Oenophiles are connoisseurs of fine wines. Wine at the store may be purchased for as little as $10 for an easily recognized label. And oenophiles can also easily spend thousands of dollars for one bottle if they so choose. This is now an era where fine wine is used as an investment vehicle.

The gavel just fell on Sotheby’s “The Cellar of An Esteemed British Collector: Bordeaux, Rhone and Port Through the Ages” from February 22 to March 8, 2022. This was Sotheby’s Wine’s first London sale of 2022. It is another indication of the finest wine market doing very well despite the rising conflicts we see daily in the news. These sales are also seeing prices come in well above the estimated sales prices.

Many wine collectors have considered selling wine that has aged out from 50 to 60 years. After all, how can one know if they are still good? These examples from this auction were stored properly and are from an esteemed collection. This is an instance where proper provenance generates higher prices — and then some!

Wine Lists from the 1980s showed the potential it could do for the collector as represented by the final prices paid at auction.

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. Many investment wines now cost thousands of dollars (or much more). Collectors with a passion to own certain bottles for years frequently have to compete directly against investors whose only desire is to make a profit in the future.

Lot 8 was an absolute star of this auction. 12 bottles of Château Lafite 1982 came with an estimate of 22,000.00 to 32,000.00 GBP. The lot sold for 43,750.00 GBP, which is $55,881.88 USD. How much would a wine auction for $4,656.82 per bottle translate into restaurant dollars? (Image by Sotheby’s)

Here are the other top selling wines from the Cellar of An Esteemed British Collector auction:

Lot 7. Château Lafite 1982 (12 BT) had an estimate of 22,000.00 to 32,000.00 GBP and sold for 37,500.00 GBP which is $47,898.75 USD.

Lot 49. Château Haut Brion 1989 (12 BT) had an estimate of 17,000.00 to 24,000.00 GBP and sold for 30,000.00 GBP which is $38,319.00 USD.

Lot 48. Château Haut Brion 1989 (12 BT) had an estimate of 17,000.00 to 24,000.00 GBP and sold for 27,500.00 GBP which is $35,125.75 USD.

Lots 365, 363, and 364 were identical lots of Hermitage, La Chapelle 1978 Paul Jaboulet Aîné (12 BT). Each lot had 12 bottles and the estimate for each lot was 12,000.00 GBP to 16,000.00 GBP. The three prices realized were as follows 16,250.00 GBP, 13,750.00 GBP, 16,250.00 GBP which comes out to $20,756.13 USD, $17,562.88 USD, and $20,756.13 USD.

Lot 61. Château La Mission Haut-Brion 1989 (12 BT) had an estimate of 11,000.00 GBP to 16,000.00 GBP and sold for 18,750.00 GPB which is $23,949.38 USD.

Lot 19. Château Latour 1982 (9 BT) had an estimate of 10,000.00 to 14,000.00 GBP and sold for 20,000.00 GPB which is $25,546.00 USD.

Lot 326. Salon 1979 (6 BT) had an estimate of 10,000.00 to 13,000.00 GBP and sold for 17,500 GPB which is $22,352.75 USD.

It should be a strong indicator to collectors and investors alike that “investment wine” selling above estimate is a sign of confidence supporting wine as being both an investment and a collectible. This is also more proof that provenance matters.