Oddbins 30th May auction was certainly a big one, with over 3,100 lots on offer, this represented Oddbins largest auction in 5 years. The catalogue was boosted by the inclusion of an extensive collection of fine Bordeaux and Burgundy in addition to a large selection of mixed cases of budget reds and whites, some left over insurance claim lots and the usual array of old, historic, mid term and young Australian reds, whites and fortifieds.
The clearance rate for this auction was marginally below average, as big auctions always have a degree buyer fatigue about them. However, the result was still pleasing as both locals and interstate buyers were bidding well within the published guides. As has been the case for most of the 2006 auction season, such bidding has had a stabilising effect on pricing. So vendors can be relieved that prices are not dramatically falling while buyers can feel safe in the knowledge that there is some consistency with pricing over time.
Much of the general Australia lots were taken up with numerous mixed lots of current vintage reds, whites, rose and fizz. Clearance rates were well above expectation as buyers warmed to the idea of purchasing mixed 6 packs and dozens of budget and premium budget wines for immediate consumption.
What was also noticeable from this auction was the return in buyer interest to a number of wine brands that have in the past taken a number of auctions to clear and in large format bottles, especially magnums. For example, the lesser vintages of Rockford Basket Press shiraz and Henschke’s Cyril cabernet. Further, Yalumba’s often over-looked Octavius, early Hill of Grace and most Mt Edelstone from Henschke achieved high clearance rates. From the large format perspective, magnums from the likes of Rockford, Penfolds and others sold well.
Another feature of the auction was the strength of known brands from good years also attracting continued buyer attention. The years being 1984, 1986, 1990, 1991, 1996 and 1998 with brands such as Barossa Valley Estates E&E Black Pepper shiraz, Cullen cabernet merlot, d’Arenberg 1998 Dead Arm, Fox Creek Reserve shiraz, Greenock Creek Alice’s, Apricot & 7 Acre, Hardys Eileen shiraz , Jim Barry Armagh, Leasingham Classic shiraz, Orlando St Hugo cabernet
While shiraz still dominates sales in the secondary market, especially good clearances coming from Greenock Creek Alice’s, Apricot and Seven Acre, Saltrams No 1 and Turkey Flat, it was also encouraging to see some fine names in cabernet attracting buyers attention in the May auction, like the cabernet and cabernet blends from Cape Mentelle, the aforementioned Cullen, Petaluma, Wynns Coonawarra and Zema Estate.
In terms of hammer prices paid for items, some of the highlights included $58 being paid for the ’98 Dead Arm, $65 paid for the ’98 Fox Creek Reserve shiraz, ’01 Moss Wood cabernet going for $90, a rare vertical of Mount Mary Quintet’s fetching $100 per bottle, the famed Duck Muck reaching $290 per bottle and Wynns Ovens Valley Shiraz from 1972 going for $40 per bottle. Special mention should also be made for the keen bidding and prices paid for a number of historic Seppelts wines: from the ‘53 Chalambar ($70) to early Show Sparkling Burgundies as the 1953 achieved a hammer price of $530, the 1972 fetching $280 & 1983, $65.
And we can also report that some keen prices paid for older fortified wines with the numbered Paras cleared well at $16 (top end of guide), d’Arenberg vintage ports from 1969 achieved a high of $29 per bottle and Yalumba vintage ports from 1988 going for $14 per bottle. Sadly the single offering of a 100 year old Para was passed in but the Rhinecastle Cricket sets, in their original boxes and packaging and offered in various conditions, cleared at a high 100%. Has Ashes hysteria finally hit the secondary wine market?
Even with such a large catalogue on offer, we still find that many established brands and styles from mainly the better years are in short supply. Brands such as the Penfolds Bin range, ‘80’s & 90’s Granges, Hardys Eileen, Barry’s Armagh, Leeuwin Art Series chardonnay and cabertnets, Lehmann’s Stonewell and St Hallet Old Block.
On the Penfold’s Grange front, a quiet time was had with the historic lots as buyers were particularly keen on the 1983, ’85, ’92, ’95 and 1998 vintages. The $300 hammer price paid for the ’96 Grange drove the Oddbins Good Grange Index up 4pts to a six month high of 107pts.
One of the true surprises from W563 was the amount of interest shown in the big selection of Penfolds Koonunga Hill reds, prices approached the top end of the published guides and clearances were well above 90%. Strong buyer interest was also shown in a number of the Bin wines, in particular Bins 389, 407 and 707, while the popular entry level Bins 128 and 28 shiraz, sales were constrained by a general lack of supply.
The legendary Bin 60A continues to attract strong buyer attention, as $2400 was paid on Tuesday night for a single bottle in mint condition. And pleasingly, buyers still continue to report back to Oddbins that this famous Australian wine is still providing a unique and extraordinary vinous experience.
On the imported front some of the highlights included keen bidding on three great vintages of Ch Pichon Lalande from 1982, 1986 and 1994 while mention should also be made of the sale of the 1961 Margaux for $910, ’89 Mouton going for a hammer price of $340 and the ’86 Pichon Lalande fetching $220 per bottle. For Burgundy, buyers were attracted to the wines of Armand Rousseau (with the magnum of ’95 Chambertin going for $710), Georges Roumier’s Bonnes Mares, and who wouldn’t be, and the wines of Romanee St Vivant. Domain Romanee Conti’s 2001 Richebourg Grand Cru fell to a hammer price of $720.
Champagne for this auction was an impressive list of super star sparklers, led by the stunning Salon blanc des blancs from the impressive 1990 and 1988 vintages, including a rare magnum. The 1988 achieved $280 per bottle, the 1990’s $305 and the ’90 magnum $890. Clearance rates were particularly high as the Bollinger Grand Annee’s from ’79 & ’85, Laurent Perrier Grand Siecle ’90, Dom Perignon ’76, ’90 & ’98, plus Pol Roger’s Sir Winston ’90 and Taitinger’s Collection ’78 all fetched higher than expected hammer prices.
Portuguese port, both vintage and tawny styles, cleared at above average rates, with consumers particularly interested in the rarely seen wines of Dalva, Quarles Harris, Gould Campbell and Offley. However, buyers were quiet on Warres, especially from the 1977 vintage. Somewhat surprising considering that it is such a strong vintage from this fine port house.
Finally the large selection of Jim Beam motor vehicle collectibles, in fact the warehouse looked like a car lot at one stage , all cleared with prices at the upper end of the guides, even for the lot that was described as running on empty! Blended and single malt whiskies also attracted keen bidding and the emergence of the Macallan as a real secondary market entity continued with $370 being paid for both bottles of the impressive 1979 Gran Reserva.
I note with interest that there appears to be renewed interest in imported wines by Australian consumers. Much has been written about the current craze for overly ripe, high alcohol Australian reds mainly aimed at the export market but increasingly being sold domestically and the growing reluctance of some Australian consumers to purchase and drink these heavy wines (see Max Allen’s article in the Australian a couple of weeks back). Further, increasingly more retailers are also getting interested in imported wines, even the big chains are permanently displaying basic Italian and French wine styles on their shelves. And then there’s the staggering amount of 2005 Bordeaux futures offers being offered in the market place.
In his article, Allen was alluding to the fact that many consumers are now looking for alternatives to the big, ripe, “blockbuster” style of Aussie red and dare I say whites as well. Far too often I hear the buyers make the comment, “these big styles are just too big…after one glass, I’ve had enough.” So Australian drinkers are now starting to look elsewhere for something to drink, and imported wines may just fit the bill.
From youthful, electrifying German rieslings at 8.5%, to village Burgundy at 12 to 13% and classic Tuscan Chianti’s at 12.5%. Even the classic heavy weights of Europe only ever achieve moderate levels of alcohol compared with the current “blockbusters” from Australia. Majestic Barolo’s at best can get to 14%, buxom Bordeaux’s and rich Chateau Neufs or Hermitage rarely go beyond 14%. Obviously there are always exceptions.
Traditionally imported wine is a very small segment of the Australian wine market and it is usually dominated by champagne sales. How small I hear you ask? According to the Australian Bureau of Statistics, last April, Australians consumed a creditable 36 million litres of wine, but only 4% of that consumption was in imported products, with a majority of that 1.5 million litres being Champagne.
Drinking and collecting imported wine can be either a supremely satisfying experience or it can be a hugely expensive minefield, leaving bitter disappointment with every bottle opened. So some gentle advice dear reader. Always: read, seek advice and taste, and taste and taste. And keep an open mind. And let the buyer be aware…they do taste different! And the way I see, that is a definite positive.
So until W564,
All of us at Oddbins wish you successful bidding.
Graham Wright
And the ever reliable and excitable team at Oddbins