Jan 30, 2021, 12:54 PM IST
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.