Fine Wine Auction online sale sets records during lockdown
Share this article:
The recent online wine auction by Strauss & Co was the most successful sale to date, since the establishment of the exciting joint venture between WineCellar.co.za, Sommelier Higgo Jacobs and Strauss & Co.
About ninety-six percent of the wine lots were sold at prices just two percent off upper estimates. Eighty-five lots were sold at R706,474, all inclusive, at a record average price of R1605 per bottle.
The auction once again included the finest South African wines and benchmark producers achieved solid prices for highly sought-after mature vintages.
“The number of buyers and competitive bidding reached a new level, a bold stride towards formalising the secondary South African wine market,” commented Roland Peens, Director of WineCellar.co.za.
Strauss & Co Chairman Frank Kilbourn further added “We are delighted with the outcome of the sale and the way the market is embracing our fine wine auction initiative, justifying our belief in the quality and collectability of top end South African wines”.
The top lots included Rhône valley’s most sought-after wine, Chateau Rayas. This iconic Chateauneuf-du-Pape is remarkably mysterious and rare, trading at multiple times the release price on the secondary market.
Six bottles of the 2005 vintage were sold for R13,276 per bottle. Guigal’s single vineyard Côte Rôties also yielded high prices; the 100 Parker point 1998 La Landonne fetched R11,138 per bottle.
Sadie Family Columella was the most expensive South Africa wine on auction with a 4-bottle set from 2003-2006 selling for R3224 per bottle and a 6-bottle case of the 2008 at R3127 per bottle.
Single vineyard and single-site Syrahs sold particularly well; Rust en Vrede Single Vineyard 2007 reached R2071 per bottle, Rall AVA 2017 R1954, Mullineux Iron 2013 R1876, with Porseleinberg 2015 and Boschkloof Epilogue 2015 both reaching R1759 per bottle all-inclusive vat and buyer’s premium.
Following on the initial success of the two live and one online auction in 2019, “We have refined the 2020 strategy and we will be hosting smaller, themed-auctions, more regularly”, said Roland.
With Covid-19 interrupting the live auction schedule, the online auction attracted more attention.
“With our online platform already established, we were well positioned to make the most of the present increase in online activity. Attractively priced, curated small lots of the finest wines, perfect for private buyers, combined with online convenience all contributed to the success of this sale,” commented Higgo Jacobs.