A case of 1978 vintage DRC recently sold at auction for $39,700 per bottle -- well above the $1,000+/bottle quoted in the case for Lafite. While I imagine that the 1978 vintage is considerably rarer than 1999, I did see a bottle of 1999 Lafite retailing for $1900 at the SFO Duty Free store:
Another interesting fact was that DRC wine appears to sell for a premium in bulk: when sold by the case, the bottles have reached nearly $40,000. However, a single bottle sold of the same vintage typically reaches only $14,000 - $20,000 per bottle at auction. It's also interesting to note that much of the demand for burgundy is being driven by Asian consumers.
The only new world wine that I could find that commanded a comparable price premium was Napa Valley's own Screaming Eagle, a cabernet sauvignon with a cult following. Those bottles are unavailable to buy directly from the winery without making it through an extensive waitlist, but can be purchased from a collector for $3,000 - $4,000 bottle for recent vintages.
Interesting post! I would assume most of the Asian buyers of premium wines are Chinese. My observation is that the learning curve for Chinese wine lovers has been rapid. Consumers are no longer focused solely on only the most expensive brand names. China is now also quite vintage conscious, similar to the American market. Wine buyers in China are seeking quality and value, which is the right blend needed for long term appreciation of fine wine.
ReplyDeleteIt remains to be seen what happens between premium wines like DRC and China. With over 1 billion potential customers, you can bet things are going to work out sooner or later. There is just too much at stake, on both sides of the fence for any other conclusion.