California is known as one of America’s top wine destinations. Beverly Hills is known for wealth and extravagance. So how surprising is it that a fine wine auction is being held in Beverly Hills? And how surprising is it that the prices are screaming higher than many of the estimates with over a week to go?

Heritage Auctions is hosting a signature wine auction on March 10-11 (2022) and frankly this is showing just how strong the wine market remains within collectibles so far in 2022. The end result is simple, even though the auction hasn’t even ended — This fine wine auction is screaming above estimates and there is still over a week to go!

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Whether wine is being purchased for investment or consumption will of course depend upon who the ultimate buyer is. Either way, spending $10,000 or more on wine will feel like a big investment to all but about 0.1% of the population.

The top wine by price is currently Richebourg 2000, Domaine de la Romanee Conti nl, #00007 Jeroboam (1) with an estimate of $12,000.00 to $15,000.00 and a current bid of $15,250.00 with 8 days remaining to bid. The wine is from the Annapolis Collection and is described by Heritage Auctions as follows:

The Annapolis Collection: The collection has lived in one location its entire life and has barely seen the light of day until now. Stored at the collectors deeply dug, ice-cold, temperature-controlled wine cellar. “An exuberately spicy and notably ripe, indeed even with discreet notes of torrefaction and roasted espresso beans that also reflect intense floral aromas precede big, robust, forceful austere black fruit flavors that are supported by ripe tannins though perhaps not quite as much density and length as usual. This is really quite regal but in 2000, it’s more of a middle weight than its normal massive, well muscled and structured character yet this will still need another 5 to 8 years to arrive at its apogee.” (92 pts. Allen Meadows, Burghound, Mar. 2010)

Romanee Conti 2017, Domaine de la Romanee Conti, lscl, Bottle (1) with an estimate of $15,000.00 to $20,000.00 and a current bid of $15,000.00 with 8 days remaining to bid. The wine is from the La Cave Collection and is described by Heritage Auctions as follows:

Wines from a Texas collector, all pristinely stored since release in a commercial wine storage facility. – Heritage Auctions

Chateau Petrus 2005, Pomerol, Double-Magnum (1) with an estimate of $12,000.00 to $15,000.00 and a current bid of $13,250 with 8 days remaining to bid. The wine is also from the Annapolis Collection and is described by Heritage Auctions as follows:

“Offering pure black cherry and blackcurrant fruit, the inky ruby/purple 2005 Petrus is still very young and unyielding, but super-concentrated, powerful, full-bodied and primordial. It is much more backward than the likes of Lafleur, Trotanoy or Hosanna. Nevertheless, it is super-rich, extracted, beautifully balanced and pure. Forget it for another 10-15 years, and drink it over the following half-century. This may well be among the longest-lived wines of 2005.” (97+ pts. Robert Parker, Wine Advocate #219, June 2015)

Here are the rest of the top bottles and/or lots in the March 11, 2022 live auction:

• Chateau Mouton Rothschild 2000, Pauillac, Imperial (1) with a current bid of $13,000.00 and estimate of $15,000.00 to $20,000.00 with 8 days remaining to bid.
• Chateau Cheval Blanc 2000, St. Emilion, hcrc, Salmanazar (1) with a current bid of $13,000.00 and estimate of $13,000.00 to $16,000.00 with 8 days remaining to bid.
• Chateau Mouton Rothschild 1945, Pauillac, hs, wisl, cc, excellent color, Bottle (1) with a current bid of $10,500.00 and estimate of $8,500.00 to $12,000.00 with 8 days remaining to bid.

• Chateau Margaux 1982, Margaux, Bottle (12) with a current bid of $9,750.00 and estimate of $8,000.00 to $11,000.00 with 8 days remaining to bid.
• Chateau Lafite Rothschild 2003, Pauillac, Bottle (12) with a current bid of $9,610.00 and estimate of $9,500.00 to $13,000.00 with 8 days remaining to bid.
• Chateau Latour 2003, Pauillac, Double-Magnum (3) with a current bid of $9,500.00 and estimate of $8,000.00 to $11,000.00 with 8 days remaining to bid.
• Romanee St. Vivant 2018, Domaine de la Romanee Conti, Bottle (3) with a current bid of $9,250.00 and estimate of $7,500.00 to $9,500.00 with 8 days remaining to bid.
• Chateau Lafite Rothschild 2009, Pauillac, 2 banded owc, Bottle (12) with a current bid of $9,000.00 and estimate of $9,000.00 to $12,000.00 with 8 days remaining to bid.
• Chateau Lafite Rothschild 2005, Pauillac, Bottle (12) with a current bid of $8,750.00 and estimate of $9,000.00 to $12,000.00 with 8 days remaining to bid.
• Chateau Lafite Rothschild 2005, Pauillac, Magnum (6) with a current bid of $8,625.00 and estimate of $9,000.00 to $12,000.00 with 8 days remaining to bid.
• Chateau Lafite Rothschild 2005, Pauillac, Bottle (12) with a current bid of $8,525.00 and estimate of $9,000.00 to $12,000.00 with 8 days remaining to bid.
• Chateau Latour 1982, Pauillac, bn, cc, ssos, missing label, capsule cut to inspect cork, vintage confirmed on cork, owc. Imperial (1) with a current bid of $8,500.00 and estimate of $11,000.00 to $14,000.00 with 8 days remaining to bid.

We haven’t tracked down these estimates against prior sales as of yet, but it is amazing to see that these wines are this close to estimates or already above the estimates with more than a week to go. This is an absolute sign that the fine wine market remains strong in 2022!