California is known as America’s top wine destinations. Beverly Hills is known for wealth and extravagance. When the two forces collide for a wine auction, is it any shock that the results soared above estimates? In many cases estimates were doubled for eager collectors looking to collect wine from a reputable source. Unlike other collectibles, wine has a very specific environment it must exist at very specific climates to prevent spoil and promote maturity.

Heritage Auctions hosted the signature wine auction on March 10-11 (2022) and showed just how strong the wine market remains within collectibles so far in 2022. The end result was simple, wine had been above estimates for an entire week before the gavel fell, and the results had time to create a tone for high-end wine in 2022.

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 on March 3, 2022 was Richebourg 2000, Domaine de la Romanee Conti nl, #00007 Jeroboam (1) which had an estimate of $12,000.00 to $15,000.00 and a bid of $15,250.00. The wine maintained its top spot in the auction and sold for $27,060.00 on March 11, 2022 after 12 bids. The wine is from the Annapolis Collection and was 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)

Past sales of this wine were provided by Heritage Auctions:

Richebourg 2000, Domaine de la Romanee Conti #02373, 10150-51 Bottle (3) sold for $8,302.50 on December 11, 2020 after 11 bids.

Here are the other results from the auction:

Romanee Conti 2017, Domaine de la Romanee Conti, lscl, Bottle (1) had an estimate of $15,000.00 to $20,000.00 and a bid of $15,000.00 on March 3, 2022. The wine sold for $20,295.00 on March 11, 2022. The wine is from the La Cave Collection and was 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) had an estimate of $12,000.00 to $15,000.00 and a bid of $13,250.00 on March 3, 2022. The wine sold for $23,370.00 on March 11, 2022. This wine was also from the Annapolis Collection and was 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) had a bid of $13,000.00 on March 3, 2022 and an estimate of $15,000.00 to $20,000.00. The wine sold for $19,065.00 on March 11, 2022 after 7 bids.

Chateau Cheval Blanc 2000, St. Emilion, hcrc, Salmanazar (1) had a bid of $13,000.00 on March 3, 2022 and an estimate of $13,000.00 to $16,000.00. The wine sold for $17,220.00 on March 11, 2022 after 5 bids.

Chateau Mouton Rothschild 1945, Pauillac, hs, wisl, cc, excellent color, Bottle (1) had a bid of $10,500.00 on March 3, 2022 and estimate of $8,500.00 to $12,000.00. The wine sold for $15,375.00 on March 11, 2022 after 5 bids.

Chateau Margaux 1982, Margaux, Bottle (12) had a bid of $9,750.00 on March 3, 2022 and an estimate of $8,000.00 to $11,000.00. The bottles sold for $14,760.00 on March 11, 2022 after 11 bids.

Chateau Lafite Rothschild 2003, Pauillac, Bottle (12) had a bid of $9,610.00 on March 3, 2022 and an estimate of $9,500.00 to $13,000.00. The bottles sold for $11,992.50 on March 11, 2022 after 6 bids.

Chateau Latour 2003, Pauillac, Double-Magnum (3) had a bid of $9,500.00 on March 3, 2022 and an estimate of $8,000.00 to $11,000.00. The bottles sold for $12,915.00 on March 11, 2022 after 7 bids.

Romanee St. Vivant 2018, Domaine de la Romanee Conti, Bottle (3) had a bid of $9,250.00 on March 3, 2022 and an estimate of $7,500.00 to $9,500.00. The bottles sold for $11,992.00 on March 11, 2022 after 9 bids.

Chateau Lafite Rothschild 2009, Pauillac, 2 banded owc, Bottle (12) had a bid of $9,000.00 on March 3, 2022 and estimate of $9,000.00 to $12,000.00. The bottles sold for $11,070.00 on March 11, 2022 after 6 bids.

Chateau Lafite Rothschild 2005, Pauillac, Bottle (12) had a bid of $8,750.00 on March 3, 2022 and an estimate of $9,000.00 to $12,000.00. The bottles sold for $10,762.50 on March 11, 2022 after 6 bids.

Chateau Lafite Rothschild 2005, Pauillac, Magnum (6) had a bid of $8,625.00 on March 3, 2022 and an estimate of $9,000.00 to $12,000.00. The bottles sold for $10,762.50 on March 11, 2022 after 5 bids.

Chateau Lafite Rothschild 2005, Pauillac, Bottle (12) had a bid of $8,525.00 on March 12, 2022 and an estimate of $9,000.00 to $12,000.00. The bottles sold for $10,484.75 on March 11, 2022 after 5 bids.

Chateau Latour 1982, Pauillac, bn, cc, ssos, missing label, capsule cut to inspect cork, vintage confirmed on cork, owc. Imperial (1) had a bid of $8,500.00 on March 3, 2022 and an estimate of $11,000.00 to $14,000.00. The bottle sold for $16,605.00 on March 11, 2022 after 6 bids.

It was amazing to see that these wines are well past estimates. Frankly it can make any collector think twice before drinking a bottle from their collection. What an absolute sign that the fine wine market remains strong in 2022!

Image To Use: 1945 Mouton Rotschild

Tagged as: Chateau Cheval Blanc, Investment Wine, Mouton Rothschild, Richebourg, Romanee Conti, Rothchild