A case of Chateau Petrus 1990 fetched $45,938 and 12 bottles of the same producer’s 1989 vintage sold for $42,875 to lead a Sotheby’s wine auction in New York dominated by buyers from North and South America.
The auction shows renewed buyer appetite for older Bordeaux vintages and rare Burgundies following price declines for younger wines, particularly first-growth claret. The Liv-ex 100 Fine Wine Index has retreated for 14 consecutive months, resulting in a 13 percent drop since March 2013.
Both top lots went to a Latin American buyer while nine bottles of Chateau Lafite Rothschild 1982 Bordeaux sold for $27,563 to a U.S. trade client, according to an e-mailed statement from Sotheby’s. Six magnums of La Tache 1998 Domaine de la Romanee-Conti Burgundy sold for $24,500 while a single bottle of Romanee-Conti 1990 DRC fetched $19,600.
The sales reflect “really strong prices for the best producers and best domaines in Burgundy,” Duncan Sterling, head of New York wine auctions at Sotheby’s, said in a phone interview. “The American market is looking healthy.”
Petrus 1990 more than tripled in price on the London-based Liv-ex online wine exchange from 2005 to 2011, reaching 36,000 pounds ($61,000) a case in May 2011 at the height of the bull market for Bordeaux before retreating to 31,728 pounds last July.
Collectors have shunned the three most recent Bordeaux vintages, deterred by high prices and poor weather that harmed the crop during the growing season.
Drinking Pétrus may be an unforgettable experience. We has been lucky to have the opportunity to taste most of its great vintages. That is why wine enthusiasts often come to us for advice. First, WeI advise you to choose a good vintage, an excellent one if your wallet allows. If you taste a poor vintage, you will notice how it raises above most other wines of the same vintage, but you will miss the actual point of Pétrus.
Second, purchase wine that is at least 10 to 20 years old, because a young Pétrus is difficult to approach, besides which oak and tannins predominate in its taste. Young Pétrus may be impressive, but it ages fantastically and requires more time than any other Pomerol wine to reach its culmination. Finally, We would advise you to decant the wine with care and well in advance, and also to give it time to develop in the glass. Then you will have the opportunity to enjoy an unforgettable experience.
A hailed vintage together with 1989. They were very similar but the hot period that hit in 1989 on July was in 1990 on August.
This affected on lower acidity levels in grapes on 1990 vintage. The wines are rounder and seem to mature more rapidly than 1989 vintage.
Soil: dark clay
Production area: 12ha
Grape varieties: 95% Merlot, 5% Cabernet Franc
Average age of vines: 42-45 years
Harvest method: hand picked
Winemaking: fermentations take place in thermo-regulated concrete tanks
Ageing: 100% new oak barrels for 18-20 months
Recommended glass shape
Average Bottle Price
|3 090€ +42.4%||2 170€ -23.7%||2 843€ -18.5%||3 487€ +26.5%||2 756€ -8.2%||3 002€ +14.1%||2 632€ +83.8%||1 432€ +81.5%||789€ +14.8%||687€|