Buying Bordeaux 2012 futures was always going to be a question of prices. Now that the majority of chateau owners have released theirs, it’s apparent they’re tone deaf to today’s market. Most prices are down less than 10 percent, nowhere near low enough.
A case of Romanee-Conti 1996 Domaine de la Romanee-Conti Burgundy carrying an upper estimate of $40,000 is top lot at Acker Merrall & Condit’s New York auction this week, along with wines from Chateau Petrus and Henri Jayer.
Three bottles of Chateau Petrus 2000 Pomerol fetched top price of 6,600 pounds ($10,100) at a sale of U.K. wine writer Hugh Johnson’s private collection at Sworders auction house north of London, according to its website.
Eleven lots of 1982 Bordeaux wines, including eight cases of Chateau Latour and three double magnums of Chateau Petrus, are estimated to fetch as much as 12,000 pounds ($18,600) each at a Sotheby’s sale in London this month.
Three magnums of Romanee-Conti 2001 Domaine de la Romanee-Conti Burgundy were top lot at an Acker Merrall & Condit wine auction in New York last week, fetching $61,500, while a case of La Tache 1978 sold for $59,040.
A case of La Tache 1990 Domaine de la Romanee-Conti from Burgundy is among leading lots at a Hart Davis Hart Wine Co. auction in Chicago next month, along with a 12-bottle DRC 1978 Assortment and a case of Chateau Petrus 1990.
A case of Chateau Latour 2010 traded for 10,994 pounds ($16,700) on the London-based Liv-ex wine market this week, its highest level for 16 months and part of a broader recovery by top Bordeaux wines, while Chateau Mouton- Rothschild 1998 reached an eight-month high.
The 1995 vintage of Bordeaux first-growth Chateau Latour sold at a 10-month high of 4,100 pounds ($6,190) a case on London’s Liv-ex wine market in the past week, according to Liv-ex’s Cellar Watch website.
Billionaire William Koch won a fraud lawsuit in which he claimed a consigner sold him 24 counterfeit bottles of wine from France’s Bordeaux region and may get punitive damages as the jury resumes deliberations.
Macy’s Inc. will ask a judge to expand the scope of his order blocking J.C. Penney Co. from selling goods designed by Martha Stewart’s company in certain categories even if they don’t carry her name or trademark.