Auction Market Update August 2020
Monday, August 31, 2020 in News
Auction Market Update August 2020
Langton’s auction activity has continued on an upward trajectory over the past several months, with the lure of wine’s biggest names proving impossible to resist for many bidders. Read the latest Auction Market Update from Langton’s Head of Auctions Tamara Grischy. Browse our live auctions now.
Onwards and upwards
Last month, we declared it Boom Time for Fine Wine in the auction space. Demand for the cream of the crop remains at a remarkable high. Here at Langton’s, we’ve seen an eye-watering growth in bidding demand, which has increased by 50%. This has been buoyed by new customers who have discovered the thrill of the auction chase over the unprecedented events of the past six months.
‘Bidding demand has increased by 50%’
Special event auctions, such as the James Halliday Collection Domaine de la Romanée-Conti Auction, have created a stir in the auction space and the wider media. While most pockets may not be deep enough to spur a DRC bid, we have seen an increased interest in more accessible museum wines and curios.
And now, on to the numbers!
Top 5 Wines by Bidding Action
Dujac Aux Combottes 1er Cru Gevrey-Chambertin 2010 - $401.00
This stunning Premier Cru commands a special place in the hearts of avid collectors and easily competes with the best Grand Crus of the region. From the top 2010 vintage and surrounded by the likes of Clos de la Roche, Latricières-Chambertin, and Charmes-Chambertin, Aux Combottes offers the same complexity and intensity as it’s neighbours for a fraction of their price.
Domaine Michelot 1er cru Meursault-Charmes 2014 - $151
Lean, structured Premier Cru Burgundy from the slope of Meursault and the enviable, highly regarded 2014 vintage. If there was ever value to be found in the region, Michelot and their range of Premier Cru wines would be at the forefront.
Clarendon Hills Astralis Syrah 2015 - $291
The fruit-forward, mouth-coating style that put Australian winemaking on the map, Astralis has reached cult status among wine enthusiasts around the globe. Shiraz at its very finest, with a 100-point Parker score to boot.
Tolpuddle Vineyard Chardonnay Tasmania (Magnum) 2018 - $210
Tasmania’s benchmark for cool-climate Chardonnay, now in a large format. A wine that respected critic James Suckling calls, ‘So elegant, pristine and pure. Exceptional.’ A wine whose future and scope in the market knows no bounds.
Claude Charbonnier Clos Des Grives Vin Jaune Jura 1989 - $261
‘Jura’, the most common answer amongst somms to the ‘what’s your favourite wine’ question. Vin Jaune (yellow wine) is an oxidatively made wine that’s dry, earthy and nutty that can produce a white truffle complexity over time.
Top 10 Australians by Price
Penfolds, naturally, leads the charge of Australian icons that collectors pursue tirelessly, auction after auction, year after year. Note the taste for large format and limited edition sets and verticals. Bigger is, quite often, better.
Penfolds Grange Saint Louis Decanter Set 2012 - $2,300
Henschke Hill of Grace 2012 - $1,860
Torbreck RunRig 2007 (Double Magnum) - $1,747
Penfolds Bin 170 Block 3C Shiraz Kalimna 2010 - $1,630
Chris Ringland Dry Grown Barossa Ranges Shiraz 2009 - $1,339
Mount Mary Quintet Vertical Set 2012-2017 - $1,280
Chris Ringland Single Barrel Shiraz 2013 (Magnum) - $1,269
Bundaberg Vat 100 1888-1988 Centenary 40% NV - $1,165
Penfolds Bin 707 Cabernet 2016 - $1,106
Yarra Yering Dry Red Wine No. 1 2017 (Double Magnum) - $876
Tamara’s Top Picks
I’m constantly on the lookout for hidden gems amongst the thousands of bottles hitting our auctions every week. Keep your eyes peeled–you can’t go wrong with these.
Top Value Buy
2016 Artisans of Barossa Small Batch Grenache Barossa Valley - $25
Keep an eye out on our Unreserved Auctions. This is made in miniscule volumes from 80 year old Grenache vines by the ultra-talented Corey Ryan, one of the original ‘Artisans’ behind the highly successful cooperative in the heart of Barossa.
1964 Bleasdale Vineyard Fortified Palomino Langhorne Creek - $ 124
A look back at Australia’s wine history, with a Spanish twist, from one of Australia’s oldest wineries. An incredibly rare parcel that may never be seen again.
The numbers don’t lie – demand for fine wine is on the up and up. Have some cellared treasures you’d like to part with? Contact our Auctions Team to get your wine appraised, or to ask the experts how you can realise the value of a single bottle or a whole collection. Browse and bid now.