Wine Street More Bullish than Wall Street as Acker Merrall’s ‘Grande Fête de Bourgogne’ Smashes Records with over $7 Million Sold

The Burgundy market continues to reach new heights as 194 New World Records set in New York City’s first auction of 2018, led by direct consignments from eight of Burgundy’s greatest producers

New York City, NY | February 12, 2018 – Despite one of the most turbulent weeks in Wall Street history, the wine market surged with confidence and optimism Friday night in New York City, as Acker Merrall & Condit’s inaugural ‘Grande Fete de Bourgogne’ auction smashed 194 New World Records amongst over $7 Million of sales.  The firm’s $5 million plus pre-auction expectations were left in the rearview mirror as nearly 20% of the auction’s 1059 non-mixed lots set New World Records.  Global demand also remained strong as collectors from Asia took home over 35% of the sale’s dollars, while American buyers accounted for over 58%.

Acker Merrall’s inaugural ‘Grande Fete de Bourgogne’ boasted direct consignments from eight of Burgundy’s greatest winemakers. Four Domaines debuted on the US auction stage via their direct consignments, including Domaine Duroche, a rising star of Gevrey-Chambertin, whose consignment began with the great 1969 vintage, and Haegelen-Jayer, the mythical “Ghost of Clos de Vougeot,” with pristine, full-case consignments from 1989-2009 never before released until recently with Acker Merrall. For the first time in the United States, Francois Labet’s Chateau de la Tour represented the oldest Domaine-direct wines in the auction, with vintages dating back to 1959. The most significant debut came from Domaine Meo-Camuzet, whose reputation as one of Burgundy’s best Domaines has long been established under the leadership of Jean-Nicolas Meo. This was the first time that wines were ever consigned directly from Meo-Camuzet’s cellars. The four Burgundy Domaines that completed the Great Eight of these Burgundy direct consignments needed no introduction, and the wines from Drouhin, Faiveley, Fourrier, and Comte Liger-Belair all set New World Records with the offerings from their cellars.

The auction’s Top 10 Lots were dominated by the greatest names in Burgundy:

• The sale’s top lot, two magnums of 2005 Romanee Conti, sold for $99,200 (New World Record) 
• Nine bottles of 1991 Rousseau Chambertin, sold for $62,000 (New World Record) 
• 1989 DRC Assortment in OWC, sold for $52,080 (New World Record)
• A twelve-bottle case of 2005 Mugnier Musigny, sold for $44,640 
• Six bottles of 2011 Egon Muller Scharzhofberger, Gold Capsule TBA, sold for $39,680 (New World Record)
• 1993 DRC Assortment in OWC, sold for $39,680 (New World Record)

Completing the auction’s Top 10 Lots were a 2001 DRC Assortment in OWC that sold for $43,400 and three-bottle and six-bottle lots of 1985 Romanee Conti and 1978 Roumier Bonnes Mares, respectively, which both sold for $37,200, followed by six bottles of 1999 DRC La Tache at $34,720.

Burgundy, of course, dominated this Burgundy-themed auction earning 144 of the 194 New World Records set during the auction. Domaine de la Romanee Conti, the world’s most important producer, continued to set new bars with 28 New World Records, spread across eight of its different vineyards.  Rousseau added ten New World Records to the tally, as did the wines of Joseph Drouhin.  Other regions managed to share some of the World Record stage, as Champagne, Italy and Germany also had strong results, with seventeen, thirteen and nine New World Records respectively, led by Krug and Giacosa each with six, and Egon Muller with seven overall.  Acker Merrall & Condit continues to lead the wine auction market by a wide and growing margin, with almost $13M in sales and over 300 New World Records in the first five weeks of 2018.

“Fine wine is proving to be a better asset than stocks these days,” commented John Kapon, Chairman of Acker Merrall & Condit Companies. “There is no fear and doubt in the world of fine wine.  Friday evening in New York City made clear that wine collectors around the world recognize that rare wine is not only one of the world’s truly great passions, but also one of the world’s greatest assets.  Our inaugural ‘Grande Fete de Bourgogne’ culminated with our Friday auction after a week-long celebration of events featuring some of Burgundy’s greatest wines and winemakers. with direct consignments from eight of Burgundy’s greatest winemakers and Domaines.  The brilliant 2018 auction season will continue with our March 10th auction in New York City, and some special announcements in the coming week or two.  Stay tuned!”

For more information about upcoming auctions or deadlines for 2018 consignments please visit www.ackerwines.com.

Highlights from the February 8-9th 2018 NYC Auction

About Acker Merrall & Condit

Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest fine and rare wine auction house. With affiliates in New York, Hong Kong and Tokyo, the company holds more than fifteen live auctions each year, with online auctions held each month. Acker’s team of experts is devoted to helping customers buy and sell the best wines and sharing with them the experience of enjoying and learning about wine. The company spreads its expertise in global wines by organizing regular wine dinners through its affiliate, the Wine Workshop, and managing the wine programs in the corporate dining rooms of Fortune 500 companies. An extensive inventory of fine and rare wine is available at all times from Acker’s retail store on the Upper West Side of Manhattan, in Hong Kong at its Kennedy Town offices, and through its Fine Wine Concierge service. Three generations of the Kapon family have been dedicated to bringing the best of the vine from their family business to global customers in the world’s most discerning markets.