The festive season was definitely in the air at Oddbins W547 December auction as the overall clearance rates were well above our initial expectation. Buyers were looking for both bargains and drink now styles, and I bet most of these wines will be happily drunk between now and December 26th.
So, in the general scheme of things, buying at auction is an excellent way of organising your festive alcohol needs especially as it that time of year where social & budgetary and time stress is at an absolute maximum. No need to fight for car spaces at busy retail outlets, no need waste valuable time as you peruse the auction catalogue at your leisure and no need to get stressed!
Sadly, I have to report, that the market is entering a soft phase with an over supply of so-called collectable wines from later good vintages far outstripping available demand. Consumers are also pressuring prices by looking for bargains in most categories. This is not an isolated instance occurring only at Oddbins, as most Australian auction houses are reporting the same downward pricing pressures.
So to all our vendors and subscribers, thank you for supporting Oddbins in 2004 and the whole team at Oddbins would love to wish you a merry Christmas and a most excellent New Year and remember that sediment is no impediment if you use a decanter!
The current exceptional interest shown in early vintages of Grange continued this auction with an Oddbins association with rare, collectable and historical Penfold’s Grange continued in December with another record hammer price of $19,100 being paid for a 1957 Bin 50 Grange. Other Grange highlights included spirited bidding on most 1960’s vintages and an unusual 1982 model that had been tasted and relabeled by Penfold’s in 1993.
While we are on the subject of Grange, the festive joy also spread to our imperfect Grange category, with strongest yet bidding on these so called damaged wines. Obviously, these wines are destined for the Christmas table. The pricing pressure reported above also affected the Grange market, especially with the famed 1986 and 1998 vintages. While clearance rates were well above the auction average the sale did result in the Oddbins Good Grange Index dropping by 3pts to 109pts.
As reported clearance rates for all categories were above average with the sale evenly split between the budget conscious sub $20 buyers and those looking for the premium products at above $20 a bottle. In the super premium category, the top 10 sellers included seven pre 1970 Granges, 1976 Grange, 1991 Three Rivers and 1991 Greenock Creek Roennfeldt Shiraz.
We can also report excellent results for a variety of Bordeaux reds, Sauternes, and very strong interest in Champagne (I wonder why?), in particular the sale and spirited bidding on a wonderful array of Perrier Jouet’s Belle Epoques. And mention should be made of the sale at above average hammer prices of the six Jim Beam Ornamental decanters, a market once thought dead but apparently still well alive and kicking.
As usual, reds out sold whites.
Strong interest by Oddbins buyers was shown in Grant Burge’s Shadrach, most Greenock Creeks, Hardy’s Eileen shiraz, Henschke Mt Edelstone’s and Wirra Wirra premium reds. Somewhat surprisingly, there was also keen bidding on a number of Orlando St Hugo and Petaluma Coonwarra red blend lots.
From the Penfold’s stable, good interest and clearance rates were shown in a little seen Bin 20, Bin 620 and Bin 80A and pleasingly, Bin 407, Magill’s and St Henri’s also sold very well. Special mention should be made for sale of a number of 1998 Bin 707’s, as this vintage is proving to be generally quite difficult to sell at the current market rate.
The over supply of wine as alluded to above can also applyto fortified wines as well, with consumers turning off most styles including premium and semi premium vintage ports, Yalumba’s ubiquitous Horse Ports, Seppelt’s Para Liqueurs and most non vintage styles. This is somewhat surprising, given that Christmas is a traditional time for giving and imbibing in fortified wines.
Other slow movers included Grant Burge’s Meshach from most years, Grosset’s Watervale rieslings, Henschke Cyril’s and some specific vintages of Hill Of Grace. Further Jasper Hill’s Georgia’s Paddock shiraz blend was avoided as well as most wines from the 1998 vintage, Penfold’s RWT and most Wynn’s wines.
On the first day of Christmas, Oddbins gave to me,
A dozen of Wendouree aged if you please!
On the second day of Christmas, Oddbins gave to me,
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the third day of Christmas, Oddbins gave to me,
Three Rivers flowing
Two Hands in Magnums and a
A dozen of Wendouree aged if you please!
On the fourth day of Christmas Oddbins gave to me,
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the fifth day of Christmas Oddbins gave to me,
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the sixth day of Christmas Oddbins gave to me,
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the seventh day of Christmas Oddbins gave to me,
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the eighth day of Christmas Oddbins gave to me,
Eight Songs from Lehmann
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the ninth day of Christmas Oddbins gave to me,
Nine Popes decanted
Eight Songs from Lehmann
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the tenth day of Christmas Oddbins gave to me,
Ten Minutes by Tractor
Nine Popes decanted
Eight Songs from Lehmann
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the eleventh day of Christmas Oddbins gave to me,
Eleven Oaks from Napa,
Ten Minutes by Tractor
Nine Popes decanted
Eight Songs from Lehmann
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four Sisters blended
Three Rivers flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
On the twelfth day of Christmas Oddbins gave to me,
Twelve Staves for Drinking
Eleven Oaks from Napa,
Ten Minutes by Tractor
Nine Popes decanted
Eight Songs from Lehmann
Seven Oh Sevens
Six Grapes Port
Five Noble Ones!
Four sisters blended
Three Rivers Flowing
Two Hands in Magnums and
A dozen of Wendouree aged if you please!
Cheers until 2005,
Graham Wright
Auctioneer & Valuer
Oddbins Wine Auctions
graham@oddbins.com.au