Wine Talk

Snooth User: dmcker

In case you doubted Bordeaux was thinking (lots!) about China...

Posted by dmcker, Nov 29, 2010.

Most blatantly, Mouton Rothschild has now chosen a Chinese artist to do the label for its 2008 vintage flagship wine.

Secondly, it looks like a rather simplistic focus on well-known brandnames out of Bordeaux by markets in China and a few other parts of Asia has brought second labels to a new level of prestige.  Or at least raised their prices greatly. The differential between first and second labels used to be something like 7.5 to 1, and now is down to 4 to 1. Since first growth flagship labels having only seen their prices rise, this means the prices for second labels have *really* risen....


Reply by Stephen Harvey, Nov 30, 2010.

The Bordelais are maters in tapping into the rich

American Oil Men in the 70's

Japanese Executives in the 80's

Russian Mafia in the late 90's

Now the New rich Chinese

History shows that some crisis will bring the market increase to a screaming halt!

The circle of life [Lion King strikes again!!!]

Reply by dmcker, Dec 1, 2010.

The English and their empire builders from the 19th century or earlier, and Americans with their Julia Child-inspired love of French gustatory culture (and Hugh Johnson, Michael Broadbent et al. on the winefront) from the '50s into the '60s and '70s. All those Madison Avenue MadMen weren't just drinking martinis and scotch.

Oh and you skipped over the dotcommers/SiliconValley denizens in the '90s and Wall Streeters this past decade....

Reply by Stephen Harvey, Dec 1, 2010.

Not to mention Arab Oil Shieks who have home and away rules for alcohol

Reply by dmcker, Mar 27, 2011.

Results from the most recent Hart-Davis-Hart auction (out of Chicago). Not sure how the formatting will hold up; apologies ahead of time for anything particularly ugly.

"Bidders participated from 22 states as well as Australia, Brazil, Canada, China, France, Hong Kong, Taiwan and the United Kingdom. Five of the top ten invoices of the day went to Asian buyers."

Wonder if it was the first five? Those Chinese do like their Lafites....





The Lafite Auction is 100% Sold, Posting $5.8 Million
Amidst Strong Global Bidding

The Largest Selection of Lafite Ever Offered at Auction
Portion of Proceeds Donated to Japanese Relief Efforts

HDH conducted a highly successful auction over the weekend devoted exclusively to the wines of Château Lafite-Rothschild. The sale comprised the largest selection of Lafite ever offered at auction and was 100% sold, realizing $5.8 million in sales against a pre-sale auction estimate of $4.3m-$6.5m. Bidders participated from 22 states as well as Australia, Brazil, Canada, China, France, Hong Kong, Taiwan and the United Kingdom. Five of the top ten invoices of the day went to Asian buyers.

The celebrated 1982 vintage brought in $1.39 million over 39 lots and achieved the highest hammer prices of the sale; the top lots of the day were two full cases of this vintage (est. $40,000-$60,000), fetching $59,750 each. Other acclaimed vintages posted strong results as well, with several cases of the 100-point 1996 vintage bringing $23,900 (estimate $16,000-$24,000), and a case of the 1995 commanding $19,120 (est. $10,000-$15,000). Prices for 15 of 20 comparable vintages rose from the strong levels achieved in Hart Davis Hart’s most recent previous auction, held at the end of January. In total, prices for Lafite rose 4% sale to sale. Both the 1998 and 1999 vintages rose more than 14% while the 1982 vintage fell slightly by 4.7%.The average price achieved per lot across the entire auction was an astounding $14,789.

Bidders in attendance at Chicago’s award-winning restaurant TRU enjoyed tastings of several vintages of Lafite paired with specially-created dishes from Executive Chef Anthony Martin. Multiple vintages were poured from magnum format, making the day “a complete celebration of the legendary wines of Château Lafite,” as Vice-Chairman Michael Davis noted.

Hart Davis Hart will be donating 3% of the buyer’s premium from The Lafite Auction to Japan Society’s Japan Earthquake Relief Fund and many of the consignors in the auction will provide matching donations. Hart Davis Hart will raise more than $30,000 which will be used to directly support victims of the earthquake and tsunami.

“The recent devastation in Japan has been weighing heavily on our minds, especially since many of our clients were directly impacted. We were thrilled to get such a great response in support of this effort from both our buyers and consignors,” said Chairman John Hart.

Top Lots (inclusive of 19.5% buyer’s premium): Lot Wine   Estimate SOLD 275-276 1982 Château Lafite Rothschild (12 bs) $40,000-60,000   $59,750 1-3, 114-115, 142, 196 1982 Château Lafite Rothschild (12 bs) $40,000-60,000   $57,360 116 1982 Château Lafite Rothschild (3 dbl mags) $38,000-55,000   $53,775 27, 117 1982 Château Lafite Rothschild (1 imp) $26,000-38,000   $41,825 11-12 2000 Château Lafite Rothschild (12 bs) $26,000-38,000   $38,240 7 1996 Château Lafite Rothschild (12bs) $16,000-24,000   $28,860 48 1995 Château Lafite Rothschild (12 bs) $10,000-15,000   $19,120 Sale Stats
Percent sold by lot: 100% | Total Aggregate: $5,887,526
Low Pre-Sale Estimate: $4,337,250 | High Pre-Sale Estimate: $6,483,700
2011 Auction Calendar | May 6 & 7, 2011 | June 25, 2011 | September 17, 2011
Reply by Stephen Harvey, Mar 27, 2011.

D - I guess the question is - how much longer?

I saw an article that suggested that a lot of the Lafite purchases were Macau Casino's who bought the wine to "feed" the Chinese high rollers.

Oh well us peasants just keep wondering????

Reply by dmcker, Mar 28, 2011.

Quite a while longer, would be my guess. How would you guess that bubble can burst, other than structural issues with the Chinese government, society or economy?

Have friends/acquaintances involved in the running of casinos (and ancillary operations like stripclubs) in Macao. Damn straight they're buying a few, select big bottles. But to them, even Dom Perignon is still a big bottle, though midrange in the context we're discussing here. You can also be sure that they're charging anywhere from a five to a 10 multiple on the markups for the bottles in that context....

Reply by Stephen Harvey, Mar 28, 2011.

I think you are right on timing and the Australian economy is hoping it goes on for a while.

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