Click here to see the hammer prices of the March 29th Auction !
Oddbins combination live and silent bid auction attracted very good interest amongst bidders.
The live sale had a large number of absentee bidders as well as above average number of live bidders, many staying until the end.
A selection of imperials and double magnums, many "1 off" bottlings sourced from industry events such as the Barossa Valley Vintage Festival and Coonawarra Barrel Auction attracted a great deal of interest from live and absentee bidders, as well as telephone bidding. The highlights of this section of the sale showed that interest in large formats is strong. An imperial of Henschke Hill of Grace 1991 - $5,000; double magnum of one of the greatest Hill of Grace made 1990 - $2,600; an imperial of Penfolds 707 cabernet sauvignon 1990 - $2,600. Barossa shiraz continued its ascendancy with an imperial of Peter Lehman Stonewall shiraz 1991, adorned with an original Tom Cleghorn painting of a 120 year old shiraz vine achieving $2,100.
The Grange and Hill of Grace confirmed their strong showing in February's auction and remain the favourites of the auction market. The '90 vintage dropped back from $420 a bottle to $380/400, whilst the biggest 'mover' saw the '71 vintage drop from $650 back to $550 a bottle. Demand for other 'classic' vintages remained as strong as ever with the 1986 achieving $400.
Hill of Grace continues to push Grange in price, and in the case of 1993 and 1994 vintages match it in price ($210/195). A comprehensive selection of Hill of Grace magnums from 1980 - 1989, attracted keen bidding with the top price of $750 being paid for the 1986 vintage.
The demand for Barossa shiraz continues, with the market turning away from the obvious over oaked styles. Rockford Basket Press shiraz, especially those from good vintages maintains its popularity - 1988 - $80, 1990 - $90, 1995 - $65 and 1996 - $57. Magnums achieved top prices as well 1990 - $295, 1991 - $220, 1992 - $160. St Hallett Old Block remains static, whilst Peter Lehmann's Stonewell is under-valued. Other sleepers on the market are the top of the range shiraz wines from the re-vitalised Saltrams. Nigel Dolan is turning our some crackerjack reds, and the rumours are the '98's are superb.
Cullens cabernet merlot confirmed its place as one of Australia's top cabernets/cabernet blends - the 1995 - $82; 1996 - $70 and some rare magnums again showed the demand for large format wines with 1992 - $205 and 1994 Reserve - $210/225. Moss Wood also found favour 1995 - $90 and a magnum of 1996 - $235. These wines are challenging Mount Mary for cabernet supremacy in Australia, the Quintets from 1995 and 1996 realising $100 and $115 respectively and matching Penfolds Bin 707 1996 - $110.
Other strong performers were Wendouree, its beautifully crafted and intense wines attracting a strong following. Orlando Lawsons and Jacaranda Ridge offer good value, whilst Grant Burge's Meshach is performing solidly without hitting the highs of previous years. Wynns John Riddoch and Michael continue to struggle, whilst the Black Label cabernet remains a favourite, particularly from good vintages.
Riesling continues its strong revival, with Grosset and Petaluma from the Clare Valley being the pick of the bunch.
The Coonawarra still struggles, however, makers such as Bowen Estate perform well consistently achieving $28/32, and an imperial of their '94 cabernet sauvignon - $750. . Petaluma, with its more elegant and restrained style continues to suffer some dramatic shifts in popularity. The Proprietor's Reserve releases can provide some very good drinking indeed.
The port market showed some improvements, however the collectors port market remains dead and buried. Vintage ports are showing some resurgence, with some wineries purchasing them for liqueuring sparkling reds. Vintage ports from the 1950's from Hardy's, Seppelt and Lindemans attracted some keen bidding averaging $150 a bottle, representing value for world class wines.
The imported market remains strong. 1982 Red Bordeaux are still in demand, as is Ch d'Yquem. With the run of poor vintages in Bordeaux in the 90's and with recent price hikes, overlooked vintages like 1981 and 1983 represent very good buying.
It will be interesting to see how the market performs in the next few months. Obvious factors that may affect prices include the GST and rising interest rates. Indifferent reports about the current vintage and stories of yields in some areas being reduced by between 30% - 50% may conspire to keep any price falls in check. Recent tastings of 1998 vintage releases suggest the reports at harvest are more than hyperbole and are set to have the same cachet as the 1990 vintage. It will be interesting to follow.