Fine wine news roundup: 1-7 June
Full steam ahead for Bordeaux 2018
The Bordeaux 2018 campaign showed no signs of slowing down this week, with a tranche of new releases:
- Chapelle Mission Haut Brion 2018, released at €60 per bottle – the same as last year.
- Cos d’Estournel 2018, released at €144 per bottle – up 33.3% on last year.
- Ducru Beaucaillou 2018, released at €139.20 per bottle – up 16% on 2017.
- Haut Bailly 2018, released at €84 – up 16.7% on 2017’s release price.
- Leoville Las Cases 2018, released at €180 per bottle – up 25% on last year’s release price.
- Mission Haut Brion 2018, released at €252 per bottle – up just 5% on 2017.
- Montrose 2018, released at €126.40 per bottle – up 31.7% on 2017’s release price.
- Pichon Baron 2018, released at €114 – up 18.8% on last year.
- Pichon Lalande 2018, released at €132 per bottle – up 46.7% on 2017.
- Quintus 2018, released at €96 per bottle – up 5.5% on last year’s release price.
- Smith Haut Lafitte 2018, released at €79.20 per bottle – up 17.9%.
Sotheby’s announces ‘bumper’ fine wine London auction
Sotheby’s next London sale will include a ‘bumper crop’ of Bordeaux, Burgundy and Champagne. The sale, which takes place from 12-13 June, features more than 1,000 lots in a variety of formats.
From Bordeaux, expect first, second and classed wines, including those from 1982, 2000 and 2005. Rarities will include 1945 Tortanoy, 1947 Latour and 1961 Petrus.
From Burgundy, there will be 1985 and 1999 Domaine de la Romanee-Conti, 1999 Close de Tart and 1999 Musigny from JF Mugnier. Other Burgundy highlights will include Faiveley, Fourrier, Jean Grivot and Ponsot.
Champagnes on offer will include 1990 Dom Perignon, 1996 Dom Perignon ‘Oenotheque’, Salon and 2002 Bollinger Vieilles Vignes Francaises, and elsewhere in the sale, 1959 Hermitage La Chapelle from Jaboulet, Vega Scillia and Harlan Estate.
Related link: The Drinks Business
Auction Napa Valley raises $12m for charity
The annual Auction Napa Valley raised US$12 million for charitable causes last weekend, where bidders jumped at the opportunity to snap up lots of exclusive wines, dinners and wine-themed excursions.
The auction, now in its 39th year, has so far raised a total of $185 million for various good causes. This year’s proceeds will go to community health groups and child education organisations.
The event’s top lot, an Italian wine tour hosted by Continuum Estate and the Mondavi family, went for $530,000, while exclusive visits to estates such as Opus One, Dalla Valle Vineyards and Silver Oak Cellars sold for thousands of dollars each.
Related link: The Drinks Business
Hong Kong becomes ‘more engaged’ with wine despite diminishing imports
Wine exports into China are on the decline, according to a new Wine Intelligence report on Hong Kong. Analysts say that after “many years of substantial growth” Hong Kong’s role as a redistribution centre is diminishing as China has established direct trade connections with wine-producing regions.
However, the report also noted a “substantial change” in consumer behaviours among wine drinkers in Hong Kong, revealing that people are becoming “more engaged with wine, with a significant growth in the proportion of those who consider wine to be important to their lifestyles”.
Red wine remains a firm favourite in the city, while sparkling wine is also gaining momentum. France continues to dominate, occupying 25% of the total wine market share and 47% of market value. But the report also found that New World regions are gaining popularity and are the “big-growth story of recent years in Hong Kong, with Australia, Chile, Italy and New Zealand growing significantly".
Related link: Harpers