HDH fine wine auction rakes in $5.4m

By: Veselin Valchev
Veselin Valchev
Veselin is a data scientist with extensive experience in commodities and natural resources within the FTSE 100. His data… read more.
on Sep 24, 2015
Updated: Oct 24, 2019

Chicago-based auction house Hart Davis Hart began “what promises to be a stellar fall season” with a very successful event on September 18 and 19. The auction house sold off 99.81 percent of the 2,169 lots at the auction, bringing in $5.4 million in gross proceeds versus a pre-sale estimate of $3.8–$5.8 million.

HDH boasted the sale’s “incredible quality and breadth”, which attracted buyers from four continents.
Over 40 percent of the lots beat their respective high estimates, with Bordeaux lots achieving over $1.9 million in total gross proceeds, while Burgundy brought in $1.8 million.
The auction house noted that many wines achieved ‘extraordinary’ prices. Domaine de la Romanée-Conti, in particular, stood out, bringing in $588,000 with 81 lots (est. $495,700-692,550).

The single most expensive item at the event was an 8-bottle lot of Henri Jayer 1990 Vosne-Romanée, which sold for $65,725 (est. $55,000-85,000). Petrus and DRC lots claimed the following nine spots of the most expensive items. All of the top 10 lots sold within their respective pre-sale estimates.
HDH also flagged a rare encyclopaedia of Unico, which attained “particularly outstanding results”. The 38 lots sold for over $114,000 total – more than a third above the high estimate for the collection.
An intriguing twist to the event was the opportunity for investors to participate via HDH’s new ‘groundbreaking’ mobile app.
“Hundreds of clients have downloaded the app and many more have participated online, increasing the number of bidders in each sale dramatically,” the auction house noted.
HDH’s next sale will be the Annual Celebration of Bordeaux auction on the weekend of October 30.

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