Burgundies Steal Wine Investment Limelight at Sotheby’s London Sale, Reports Invezz in New Article
iNVEZZ.com, a portal for investors,has released a new article focusing on the recent Sotheby’s fine wine auction in London, which saw Burgundy wines generate significant wine investment interest.
London (I-Newswire) March 11, 2013 - Investor portal iNVEZZ today published a news item reporting on Sotheby’s recent auction in London, where Burgundy wines enjoyed significant wine investment attention from collectors and investors alike. While top clarets also performed well, the auction results highlight a growing demand for rare Burgundies which has been driving investment-grade wine prices at several recent auctions.
In its news piece, iNVEZZ reports that Sotheby’s London sale saw six bottles of white Montrachet 1993 Domaine de la Romanee-Conti Grand Cru Burgundy sell for £21,150, matching their top estimate, whereas a similar half-case brought in £18,800. iNVEZZ also notes the performance of top Bordeaux wines, with three cases of Chateau Haut-Brion 1989 also attracting healthy wine investment attention.
The iNVEZZ article also comments on the observed demand for rare Burgundies at several recent auctions, notably Acker Merrall& Condit’s January sale in Hong Kong, which saw a six-magnum case of Domaine de la Romanee-Conti (DRC) Assortment 1990 go for HK $541,200 (£45,092). iNVEZZ quotes a Cellar Watch market report published in February 2013 as showing that Burgundy trade rose to a record high in January, with the region’s share of overall sales reaching 14.5 percent.
iNVEZZ then looks at the overall Sotheby’s London sale results, reporting that the auction house raised £685,825, well above the pre-sale high estimate of £645,660, with more than 98 percent of lots sold. iNVEZZ also notes that Sotheby’s London results follow a series of successful February auctions which when taken together indicate a wider recovery in the fine wine market this year, following the market decline observed in 2012.
The new iNVEZZ wine investment article can be found in the alternative investments section of the portal’s news coverage, which presents investors with timely updates on current happenings in the investment world. In addition, the portal features in-depth analysis on topical investment issues and insights into a range of investment products and markets.
To learn more about iNVEZZ, join, contribute your own professional or amateur expertise on the investment areas of your interest or engage with other investors or experts, please visit www.iNVEZZ.com.
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Published On:March 11, 2013
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