Fine Wines Fetch Record Prices Despite Wall Street Volatility
Last week, Nonni Strategic Marketing had the pleasure of working with Acker Merrall & Condit in promoting and marketing their first-ever Grande Fête de Bourgogne. Acker Merrall & Condit, the world’s leading wine auctioneer and authority on fine and rare wine, held a week-long celebration dedicated to the wines of Burgundy, those who make them, and those who love them. The Grande Fête de Bourgogne brought together serious Burgundy collectors and producers of unparalleled renown in a series of incredible events leading up to the first wine auction of the 2018 NYC season.
Despite one of the most turbulent weeks in Wall Street history, the wine market surged with confidence and optimism on Friday, February 9th in New York City, as Acker Merrall’s inaugural ‘Grande Fête de Bourgogne’ auction smashed 194 new world records with 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.
The 'Grande Fête de Bourgogne' auction 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 Château 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 Méo-Camuzet, whose reputation as one of Burgundy's best Domaines has long been established under the leadership of Jean-Nicolas Méo. This was the first time that wines were ever consigned directly from Méo-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.
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