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US auctioneer Hart Davis Hart has completed its 2020 season with a two-day “record shattering” sale featuring the wines from the late Joseph Phelps’ cellar.
For a total of US $10.4 million, the entire collection was 100 percent sold, almost $2m above the high pre-sale estimate, with 82 percent of the lots offered selling above their high estimates as well.
Last Friday’s first session included the wine cellar of the late Joseph Phelps. In total, it made $2.2 million (above a high estimate of $1.3 million) with buyers jumping at the opportunity to purchase Lafite Rothschild 1865 and 1948 bottles ($31,070 each) and 11 Latour 1959 bottles ($77,675) and 12 Latour 1961 bottles ($23,900), and rare Californian classics 1971 Ridge Vineyards Cabernet Sauvignon Eisele Vineyard (two bottles selling for $20,315-a new record), 1974 Heitz Cellar, Martha’s Vineyard Cabernet Sauvignon, 1978 Joseph Phelps Eisele Vineyard and ‘Insignia, as well as great Burgundy. Charles Winn says it is great to see such a variety of wines sell at the prices they did and this makes it clear how robust the market is.
The sale continued with more fine and rare wines the next day, including another large private selection. Charles Winn says the second day brought the likes of 1961 La Mission Haut-Brion, Armand Rousseau 2010 Chambertin, 2000 Latour, Domaine Leroy 2009 Musigny, and 1990 Domaine de la Romanée-Conti.
Hart Davis Hart owner says; “Unlike anyone else, 2020 has been a year and we are extremely grateful to our bidders and consignors who have continued to support Hart Davis Hart.” In order to reflect cellars of exceptional quality, we remain the top choice for collectors. To meet the global demand for fine and rare wine, Hart Davis Hart continues to be creative and we are pleased to bring superior collections to market.
Auction that offers such a prestigious collection of the Finest Wines and has the fantastic outcome that this two day sale did is a step in the right direction for the market, states Charles Winn. Considering the way 2020 panned out external of the Fine Wine market, it is great to see this did not negatively affect the market and Charles Winn are confident this will continue into 2021.
The auction house continues to be a driving force in the US market and this year saw $59 million in revenue over its nine sales.
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