Oddbins April live and silent bid auction saw major market indicators performing as expected. Penfolds Grange and Henschke Hill of Grace were the stand out performers in the auction.
Both these wines performed strongly, and whilst they sold generally between the estimates they attracted strong and competitive bidding. These wines are, to use a current sporting term, ‘the go to’ wines of the secondary market - safe performers giving good returns and performing well under pressure.
The highest price was $11,000 for a 1958 Grange, whilst a bottle of the famous 1955 vintage, signed by Max Schubert sold for $3,800. The recognised classic vintages such as 1971, 1986 and 1990 also sold well, as did a bottle of the poorly rated but relatively rare 1974, achieving $320.
Along with Grange and Hill of Grace, shiraz continues to be in most demand, the Barossa leading the way.
Cabernet continues to provide excellent value, quite often under performing alongside shiraz. Moss Wood, Cullen and Mount Mary continue to be the market leaders Producers such as Bowen Estate and Zema Estate from Coonawarra gather support and are going from strength to strength.
There has been a certain amount of cherry picking vintages. Wines from soft vintages such as 1992, 1993 and particularly 1995 and 1997 have all but been written off by the secondary market. Buyers are no longer purchasing specific wines but actively considering regionality, secondary market history and vintage when determining their bids.
Imported wines enjoyed strong support, a bottle of La Tache 1999 from a recognised great vintage achieved $2,000, Ch Lafite 1996 $550, 1989 d’Yquem $430, 1993 Trimbach Clos St Hune $200 and 1994 Trimbach Cuvee Frederick Emile $90. Italian wines to perform well included Onellaia 1995 $180, and Sassicaia 1997 $250.
Oddbins will be moving to new premises within the coming months, combining the warehouse and office under one roof. As well, the move will coincide with the launch of their interactive on-line wine auction website.