Oddbins’ final auction for the year saw just under 2000 lots go under the hammer.
Penfolds Grange continues to be the market leader, with strong and competitive bidding and high clearance rates. Good prices were paid for wines from the 1950’s - $17,592 was realised for the 1956 vintage and $14,755 for a 1957, one of the hidden Granges. A magnum from the 1984 vintage achieved $1,192. Recognised classic vintages such as 1971, 1976, 1986 and 1990 sold strongly, generally toward the upper end of the presale estimates.
A selection of rare and historic Australian wines attracted keen bidding. A bottle of Wynns Coonawarra Estate Michael Shiraz 1955 achieved $2,156, the famous Peppermint Pattie, Mildara’s Coonawarra Cabernet Sauvignon 1963 $476, a bottle of Orlando Barossa Riesling 1954 $258, a Penfolds Bin 60A Coonawarra Kalimna Cabernet Shiraz 1962 $851.
Shiraz from the Barossa Valley in particular was again the mainstay of the auction. It was interesting to see a parcel of Peter Lehmann wines continue to attract strong bidding, the recent much publicised purchase by the Hess Group having no effect on the winery’s following in the secondary market.
Henschke Hill of Grace maintained its position to rival Penfolds Grange, with strong bidding and good clearance rates. A magnum from the 1987 vintage achieved $681, with other vintages generally selling toward the upper end of the pre sale estimates. Cyril Henschke cabernet sauvignon continues its recent ‘soft’ run and represents good opportunities to purchase one of Australia’s premium cabernets. Mt Edelstone showed a return to form.
Riesling continued its revival with a collection of Leo Buring Show Reserve wines from the early 1970’s creating strong demand and prices achieving around $70 a bottle. Some old Lindemans Hunter River wines from the late 60s early 70s attracted lots of interest - Bin 3455 Riesling 1968 $79, Bin 3475 Chablis 1968 $90, Bin 3875 Chablis 1970 $102 showing the demand and interest in classic old Australian white wines is increasing.
Chardonnay was dominated by Giaconda and Leeuwin Estate. Giaconda Chardonnay now commands over $130 a bottle, whilst a lot of Leeuwin Estate’s famous Art Series Chardonnay 1987 achieved $158 a bottle.
The imported wine market was generally quiet however some significant prices were achieved for Red Bordeaux and Sauternes, a magnum of 1990 Ch d’Yquem $1305. Red Burgundy as always followed maker and vintage, a single bottle of Romanee Conti 1997 achieving $2610.
Oddbins first auction for the New Year will be on February 10, and includes a listing of interesting Australian wines, many in large format.