Who said that the era of the specialist live auction was over? Last Monday night, Oddbins Wine Auctions held their biennial Tasting Australia live auction at the Italian Centre in Adelaide, and certainly quashed the theory about live auctions being dead. Six hundred and nine lots of hand picked, specialist wines with a uniquely Australian flavour, covering both standard size and large format bottles went under the hammer in front of a live audience.
Under the direction of wine industry icon, Mr Colin Gaetjens and ably assisted by Oddbins Director Mr Graham Wright, the sale proved to be highly successful achieving excellent clearance rates, better than expected prices paid for most lots and keen bidding from both the floor and from telephone and absentee bidders. The late inclusion of a rare imperial (6 litres or 8 bottles) of Penfold’s Grange 1985 certainly added zest to the occasion. Also on offer was possibly, the largest collection of Three Rivers and Chris Ringland shiraz ever offered in Australia, along with a number of intriguing and dramatic lots from Penfolds including very early Grange, Henschke, Bindi, Mount Mary, Torbreck and Clarendon Hills super premiums.
Due to the wines being personally selected by Oddbins directors Merrilyn Middleton and Graham Wright, their aim was to offer the public the best that Australia has to offer, as most of the lots chosen were in excellent condition with known provenance. And after this auction, this tagging appears to have been one of the major attractants to buyers purchasing well over 70% of these lots on offer.
Notable highlights included better than expected hammer prices per bottle paid for Leeuwin Estate Art Series Chardonnay 1990 at $70, a rare Lindeman’s Bin 3110 fetching $360, Noon’s Reserve ’98 cabernets achieving $175, the gloriously named Duck Muck from 2002 at $300, a Brokenwood Graveyard magnum from 1995 achieving $180 and a Melton Nine Popes magnum fetching $90.
Good clearances and solid prices were also paid for the large selection of Three Rivers on offer as well as the Torbreck RunRigs and Wendouree shiraz and shiraz blends and Wendouree sets. Also popular with buyers were the new emerging super star brands such as Bindi and Clonakilla and from old favourites such as Grant Burge’s Meshach, Greenock Creeks, Giaconda chardonnays and Grosset Polish Hill rielsing.
As with most Australian auctions, the Penfold’s brands make up a large selection of lots on offer and this auction was no different. Clearance rates were the same for the entire auction with keen interest shown in the older historic lots on offer. Above average prices were paid for the Bin 414 1962 Sauternes at $300, the Bin 434 1962 Claret at $170, the 1967 Bin 7 at $900, the Kalimna cabernet from 1963 at $105 and the intriguingly labelled St Henri 1970 that was bottled at Auldana fetching a respectable $95. The Bin 10 1953 Grange achieved a hammer price of $16,000.
Obviously buyers were a little quiet in some areas, mainly with current vintage stock, some large formats and some offerings of budget-premium wines. And for those buyers that are nervous about the so called off years, the audience was reminded by Colin Gaetjens that, “good winemakers do make good wine in poor years- that is exactly why they are there. In good years then wine is made by God in the vineyard and the winemaker is not needed. What Australians don't get is that in so called lesser years you buy top wines at bargain prices and drink them before the great vintages”.
While live auctions will never be held on a regular basis due to the influence of the internet, the future of specialist auctions focusing on premium, historic and rare items still has an important part to play in the secondary market. The chance to participate, see the lots on offer and talk to both knowledgeable advisers and the auctioneers themselves still holds an attraction to secondary market buyers. All we can say from the Oddbins perspective is watch this space.
So until our November report, happy bidding and cheers from…
Graham Wright
and the ever reliable and
highly excitable team at Oddbins.