Bright sunshine and bright sales as Oddbins November auction follows up on the successful Tasting Australia Live wine auction with a solid November sale. The overall clearance rate for this sale was on average, but we are happy to report that the dollar spend per lot was up 13%, indicating a stronger, more competitive bidding market from buyers. We anticipate that these bright conditions will continue into the near future.
Not surprisingly, this sale confirmed that our subscribers were not only beginning to plan for the festive season but they have also started to think about warm summer nights and the need for something that is cool, crisp and white, as clearance rates for whites, from both the commercial and general sections of the catalogue, were well above our previous expectations. But this pick up did not effect Australia’s continued thirst for full bodied reds, as clearances for both budget and premium shiraz and blends remained strong. Cabernet however, still remains a worry.
The major auction highlight was the spirited bidding that took place on two lots of 1959 Bin 13 Grange, one in excellent condition and boasting the postage stamp style of label, the other being in a more expected condition for its age, achieving $2750 and $950 respectively. Not surprisingly, the market for old and historic Grange is as strong as ever.
Other highlights from this auction included good clearances for Barossa Valley Estates E&E Black Pepper shiraz and at long last, an upturn in interest in Fox Creek Reserve cabernets and shiraz. Early Grosset rieslings attracted considerable buyers attention as with most of the Greenock Creek portfolio. Henschke Keyneton Estate also attracted attention as did a wine that is quite undervalued in both the retail and secondary markets: Orlando’s St Hugo cabernet, also cleared well.
Mention should be made of the sale of an imperial of 1990 Chapel Hill Reserve shiraz which achieved a hammer price of $360 while there was renewed interest in Rockford’s 1999 Basket Press along with older vintage dated Para Liqueurs and Wynns Black Label cabernet. And if you thought that the era of the super-cult Barossa shiraz was beginning to wane, forget it, as buyers are still keenly attracted to Chris Ringland’s Three Rivers label.
And spare a thought for the purchaser of that exquisite half bottle of Farmer Brothers bottled Muscat Essence from 1948, reliable sources have indicated that this 57 year old classic is still in the prime of its life!
On the Penfolds front, the Oddbins Good Grange index slightly fell 2pts to 103 pts based on some bargain hunting on 1986 Grange, while the Grange clearances were well above November’s auction average. Grange’s appeal to both investors and collectors still remains strong and we anticipate no change in this situation in the near to medium future.
Mention should also be made of the considerable interest shown in Grange 2000 bottles, while the magnums have been relatively well supplied in the secondary market, the bottle form has not and achieved a hammer price of $510. With the adverse publicity this wine has achieved over the past few months, that’s an excellent result for the vendors. Other notable Penfolds performers were the Bin 389’s, 407’s and 707’s in good condition, as buyers avoided poorly presented examples.
The results from our Tasting Australia and November auction have certainly buoyed our expectation for our final 2005 auction which is traditionally a strong month for both retailers and auction houses, and at this early stage we suspect that these more buoyant conditions may well continue into the early months of the new year.
And finally, Christmas is not that far away and now is the perfect time to plan your festive beverages, as our last auction for 2005 will be held on 6th December, and this catalogue promises to have a big selection of not only the rare and collectible offerings that would be perfect for Christmas day but also those premium and budget premium reds and whites that are absolutely perfect for all those uninvited guests that always turn up at the most inopportune time during the festive season.
So be warned, Christmas is only just round the corner!
So until our W556 December auction, we wish you spirited and strong bidding,
From Graham & Merrilyn
and the ever reliable and ever excitable team at
Oddbins Wine Auctions