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Hart Davis Hart Sells 100% of Lots for $3.7 Million
as Prices Strike New 2010 Highs

HDH Index at Highest Level Since September 2008 Fox Cellar Auction

  

(May 11, 2010 - Chicago, IL) - Hart Davis Hart held a highly successful wine auction this weekend in Chicago, realizing $3,777,503 in total sales against a pre-sale auction estimate of $2,380,780 -$3,557,000. Wines from Château Lafite Rothschild, Château Pétrus, Domaine de la Romanée-Conti, and Harlan Estate generated spirited bidding from US, international, private and trade buyers. An exciting selection of rare Burgundy from Armand Rousseau brought prices that soared over the high estimate ranges.

The HDH Index, which tracks the performace of fifteen key wines sold at auction, finished up 2.84% and is now up 19.42% on the year. Chateau Mouton-Rothschild continues to appreciate in value at a rapid pace. Hammer prices for the 1986 vintage rose 34% from the previous auction and have increased by a remarkable 80% this year. Château Lafite-Rothschild continues its torrid pace. The 1982 vintage brought prices as high as $45,410 per case, while the 2000 vintage brought $26,290 per case.

“The room had great energy,” said CEO Paul Hart. “Our Asian, South American, and European clients are seeing increasing competition from decidedly upbeat US buyers.”

Bidders participated from 42 states and the District of Columbia, as well as Australia, Brazil, British Virgin Islands, Canada, China, Germany, France, Japan, Mexico, Puerto Rico, the Philippines, Singapore, South Korea, Spain, Switzerland, Taiwan, and the United Kingdom. The auction room in Chicago was packed with enthusiastic buyers who enjoyed incredible wines and great food throughout the day.

“Auction prices are again near all-time highs as the top wines in the world now have a truly global following,“ commented Chairman John Hart. “But, the story that is being largely ignored is perhaps the most important of the year… the resurgence of the US buyer.”

Top Ten Lots (inclusive of 19.5% buyer's premium):
1. Lot 785: 1982 Château Lafite Rothschild (12 bs) $45,410 (est. $28,000-42,000)
2. Lot 505: 2000 Château Pétrus (12 bs) $41,825 (est. $30,000-45,000)
3. Lot 501: 1998 Château Pétrus (12 bs) $33,460 (est. $18,000-28,000)
4. Lot 784: 1982 Château Lafite Rothschild (8 bs) $31,070 (est. $19,000-28,000)
5. Lot 228: Mixed Case -1999 Domaine de la Romanée-Conti: Romanée-Conti (1), La Tâche (3), Richebourg (2), Grands-Echézeaux (2), Romanée-St.-Vivant (2), Echézeaux (2) $26,290 (est. $20,000-30,000)
6. Lots 34, 480, 481: 2000 Château Lafite Rothschild (12 bs) $26,290 (est. $15,000-22,000)
7. Lot 33: 2000 Château Lafite Rothschild (11 bs) $22,705 (est. $13,000-19,000)
8. Lot 175: 1999 La Tâche Domaine de la Romanée-Conti (6 bs) $22,705 (est. $12,000-18,000)
9. Lot 35: 2000 Château Lafite Rothschild (3 dbl-mags (3L)) $21,510 (est. $15,000-22,000)
10. Lot 504: 2000 Château Pétrus (6 bs) $21,510 (est. $15,000-22,000)

Percent sold by lot: 100%
Hammer: $3,161,090 (132.78% to low)
Total Aggregate: $3,777,502

 

2010 Auction Calendar
June 26, 2010
September 11, 2010
October 30, 2010
December 11, 2010