CAPE TOWN - The 33rd Nedbank Cape Winemakers Guild Auction raised more than R13.2million in wine sales at an event at Spier in the Stellenbosch Winelands over the weekend.
However, while a new record price for a case of wine was set, the revenue was just shy of last year’s record total of R13 833200. Coupled with an increased spend by international buyers, the event once again underlined the prowess of the wines made exclusively for the auction by members of the guild.
The chairperson of the Cape Winemakers Guild, Miles Mossop, said: “The results of our 2017 auction, in light of the current economic climate, bode well for the South African wine industry as a whole." The bulk of the wines, 79 percent, were snatched up by local buyers, with the other 21percent bought by foreigners.
- BUSINESS REPORT