The Wines of the Wealthy

Have you ever enjoyed a glass of wine at dinner and wondered what the one-percenters are enjoying at their tables?

Or, perhaps, the one-tenth-of-one-percenters?

Sotheby’s, the auction house based in New York, London and Hong Kong, recently released its 2018 Wine Market Report, which is a summary of the auction action last year among the kind of premium wines that few of us can afford. Overall sales, much of it from large private collections, amounted to a record $98 million.

wine
Three People Celebrating With A Glass Of Wine

This included a single bottle of 1945 Romanée-Conti Burgundy  that sold for $558,000  at a Sotheby’s auction last fall, plus a collection of Château Lafite and Mouton Rothschild whose prices soared into the millions. The report also notes that prices for Burgandy and Bordeaux wines were up 65% and 63% respectively over 2017, primarily for mature (aged) bottles that are ready to drink right away. Domaine de la Romanée-Conti, Pétrus, Lafite, Leroy Burgundies and Cheval Blanc were among the bottles reporting highest-price sales among wine collectors and
connoisseurs.

Interestingly, these auctions are also starting to market fine whiskies, including a
1926 bottle with the Sir Peter Blake label that sold in New York for $843,000.

If you’re interested in joining the fun and raising the quality of the wine you’re
drinking at social get-togethers, Sotheby’s next live sale, planned for March 9, will
feature more than 250 lots of Domaine de la Romanée-Conti; the sale is expected
to collect more than $3 million. An online-only sale will include six decanters of a
Macallan wine in a Lalique Six Pillars collection, including one called the Peerless
Spirit, with a high estimate price of $90,000.

Source

Bloomberg

This article was written for information purposes only and its content should not be construed by any consumer and/or prospective client as rebel Financial’s solicitation to affect, or attempt to affect transactions in securities, or the rendering of personalized investment advice for compensation. No client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from rebel Financial, or from any other investment professional. See our disclosures page for more information.

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