Wine Auction Market Report April 2016 by Reece Warren

By May 1, 2016News

May/June 2016.

Webb’s has been auctioning Rare and Fine wine in Auckland since 2001. We are the largest and most frequent live wine auctions in New Zealand. We have eight live auctions annually.

The last 15 years have seen many changes not only in our auctions but also the New Zealand wine landscape. While New Zealand wines have always done well in our auctions there is also great demand for Australian wines, French wines – especially Bordeaux and to a lesser extent Burgundy, Champagne, Rhone and other European countries.

Provenance is of extreme importance and we are always looking for well cellared wines. Often we have to vet consignments that may have not been cellared in a fashion that we believe is conducive to storing fine wine. We also offer links through our catalogue to companies that will assist consumers in their cellaring of wines. Not only with tools to use in the cellar such as wine cabinets, racking and cellar conditioners but also construction.

The year started very well for us at Webb’s with our first auction on the 2nd February showing an 11% jump on lot numbers and a massive 31% leap on Hammer Fall compared to our last auction of 2015. A 70% sell through rate from the auction and post auction sales was slightly up on our normal average. The stand out performers from New Zealand in February were Te Mata Coleraine, which constantly does well, Felton Road Pinots and a 2001 Craggy Range Sophia 3 litre which went for more than twice its Reserve with some feverous bidding. Australia was dominated by Penfold’s with Bin 707 and Grange performing well as usual. We also had a rare bottle of Bin 620 that went 30% above the reserve.

Champagne had some great results with a rare magnum of 1976 Dom Perignon doing well at $625 – a bargain compared with international pricing. A 1988 Enotheque and a normal bottle of 1995 Dom Perignon also fared well. Perrier Jouet Belle Epoque 1979 was the standout showing growth of 31% on it’s previous sale in December 2015.

Other highlights from France included a magnum of 2002 Rousseau Chambertin Clos de Beze reaching $2300 – again a bargain compared to international pricing. Chateau Mouton Rothschild 1986 and Jaboulet La Chapelle Hermitage 1990 both Robert Parker 100 point wines also got a lot of interest and both vendor and buyer will be happy with the results on those.

Vintage Port flies in the face of international trends and continues to reach good Hammer prices. Croft and Taylor’s from 1963 had a lot of interest with the Croft doing very well against average international pricing.

Our next auction features the most complete vertical of Te Mata Coleraine seen which we expect to do very well and hope it entices some other verticals to be consigned.