Equivalent price of £14,250 ($17.25k) per 750ml bottle represents a new high for Romanée-Saint-Vivant Grand cru wines, surpassing both Leroy and DRC as the most expensive RSV sold
August 10, 2022: Cult Wines, the company actively redefining the fine wine market, partnered with legendary Burgundy fine wine producer, Olivier Bernstein to release a 1-of-1 jeroboam of Romanée-St-Vivant 2017.The ultra-rare jeroboam was auctioned with an estimate of £40,000-£60,000 on Monday 1st August and ultimately sold for £57,000 (the equivalent of £14,250 per bottle). It was available exclusively on CultX, Cult Wines’ newly launched digital trading platform.
Given the tiny volume of Romanée-St-Vivant produced by Bernstein, and the unique format, the hand-numbered Jeroboam is the ultimate collector’s item for Burgundy aficionados. The equivalent price per bottle, £14,250, easily surpasses the current average price of the most expensive Romanée-Saint-Vivant – Domaine Leroy (£9,109) – making the Olivier Bernstein jeroboam the most expensive RSV sold.
Six bidders from around the world competed for the highly prized auction lot, with over 19 bids submitted during a fiercely competitive auction, with the winning bidder submitting their offer with just 2 minutes remaining of the online auction.
Tom Gearing, CEO and Co-Founder of Cult Wines, commented: “We are thrilled with the enthusiasm for this auction – and ultimate sale price of £57k ($69k) – a new benchmark for Romanée Saint Vivant and Olivier Bernstein. Despite the global macro environment, we continue to see high demand from investors and collectors around the world to acquire the rarest and most exclusive fine wines. The interest we saw in this auction reflects the growing trend of investors seeing fine wine as a safe asset in the current economic times. We plan to continue to forge new ground, working with elite global producers to establish innovative ways to give collectors a first chance to collect rare wines from iconic grand cru vineyards.”
Provenance, authenticity and ownership was guaranteed with an NFT issued to the private buyer by Bernstein to accompany the jeroboam. Historically, Burgundy is a very traditional wine market that adheres to standard methods for buying and selling wine. Partnering with Bernstein, CultX provides an innovative new channel that provides all collectors and enthusiasts access to an iconic, highly acclaimed and exclusive – with only one bottle in existence – Burgundian wine. The partnership was Cult Wines’ latest transformative offering to the wine industry, and the first of many exclusive releases with world renowned producers.
Gearing continued, “Our partnership with Olivier Bernstein enabled us to provide an unparalleled level of access to one of the world’s most prestigious, rare and sought-after wines. Burgundy by nature has always attracted keen interest and devotion from the world’s top wine collectors, and the current market demand is no different. Given the scarcity of top Burgundy wines it comes as no surprise that this jeroboam achieved such a staggering sum, putting it firmly in the company of iconic producers like Domaine Leroy and Domaine de la Romanée-Conti.”
The winner of the auction, a private buyer, and five guests of their choice have been invited to join Olivier Bernstein at his iconic, and typically closed to the public, Maison in Beaune, France for an unforgettable wine-paired dinner. An incredibly rare opportunity, the group will experience the unique magic of the spectacular Burgundy region.
For those who missed out on the auction, a very limited number of hand-signed, numbered bottles and magnums of the Olivier Bernstein Romanée-St-Vivant 2017 are exclusively available to purchase through the CultX platform when it launches to the public in late September. Each bottle of Olivier Bernstein RSV 2017 will be released from the Domaine with an accompanying NFT issued by Olivier Bernstein, guaranteeing the authenticity and ownership of the bottle. Users can still sign up to the waitlist on CultX at www.cultx.com/new-releases/olivier-bernstein-rsv.
ABOUT CULT WINES
Founded in 2007, Cult Wines is forging the future foundations of the fine wine market by creating products and experiences that unlock opportunities for producers and consumers. Empowering people through technology, data and access to a global community, Cult Wines endeavors to re-define the fine wine market – making it accessible, secure and rewarding. Headquartered in the UK, Cult Wines has offices in Canada, China, Hong Kong, Singapore, and the US. For more information, please visit www.cultwines.com or find us on LinkedIn, Twitter, Facebook, or Instagram.
CultX is the leading-edge digital trading platform for buying, selling and collecting investment grade fine wine with over £200m of the world’s most prestigious wines available to bid on. The mobile and web-based trading app provides users with all the tools they need to build, track and manage a fine wine portfolio with real-time data and live markets at their fingertips, instantly and easily. Boasting ten years of historical data and current pricing information from Wine-Searcher, the platform provides the most accurate price record for each of the hundred thousand wines available to search on the platform. CultX brings together a global community of tech savvy traders and fine wine enthusiasts, offering unmatched liquidity opportunities, with immediate ownership, total transparency and assured authenticity through the Algorand blockchain ledger. For more information, please visit www.cultx.com or find us on LinkedIn, Twitter, Facebook, or Instagram.
ABOUT OLIVIER BERNSTEIN
The elusive Olivier Bernstein rose to fame just over two decades ago when he left a successful career in international business to pursue his passion for wine. Since his first vintage in 2007, Bernstein has been winning the plaudits of leading Burgundy critics such as Allen Meadows and Jancis Robinson. His wines, nearly exclusively Grand Cru but with some Premier Cru sites, are becoming some of the most sought-after in the Cote de Nuits as collectors are now starting to appreciate the extraordinary quality as the wines enter their optimum drinking windows. To Bernstein, Burgundy is the ultimate wine making region, with each of his wines being a personal interpretation of the grapes from that vintage.