Auction market: Under the hammer

Auction market very stable and strong despite or thanks to corona time

Now that we are halfway through 2021, it appears that the record prices and top results in global auction markets from the beginning of this year are continuing. Positive progress continues to be seen in almost all segments. - TEXT MILAN VELD | IMAGE PEXELS.COM

After the prices of the 500 most traded wines in the world increased by more than 10 per cent in the first quarter, this growth also continues in the auction market in the second quarter by 5.5 per cent. This results in an impressive increase of 15.10 per cent in 2021! Whereas after an incredibly strong first quarter, the growth of the 50 most traded Burgundy wines 'only' increased by 3.15 per cent in the second quarter, this adds up to a respectable increase of 13.21 per cent in 2021 so far. In Bordeaux, price increases are still the strongest in the entire market. After a 10.72 per cent increase last quarter, a further 5.46 per cent was added in the second quarter.

These increases have not gone unnoticed by submitters and neither have buyers. It is now safe to speak of a veritable wave of selling and buying. Many sellers apparently think 'take the money and run' in this unprecedented boom time.

Bottle of Grand Constance 1821 raises record amount

A very rare bottle of Grand Constance 1821 sold for a record €24,500 at the Cape Fine & Rare Wine Auction on 22 May. That winemaking in the New World is not at all new is shown by the fact that the sweet wine was originally destined for Napoleon Bonaparte. By 1821, Grand Constance already enjoyed great fame in royal and political circles, attracting the interest of Napoleon, Marie Antoinette and even George Washington. Much of Grand Constance's harvest would be shipped to St Helena in 1821, where Napoleon lived in exile. Due to his death on 5 May that year, the wines were reintroduced to the market. The auctioned bottle was reconditioned in 2019 and one of the last 12 in the world.

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