Record Prices for White Wines at Hospices

The 146th annual charity auction (La Vente) held last week-end at Beaune, Burgundy saw most outrageous increase in the prices of white wines. The increase of 64% was in sharp contrast with just a percent of increase in the reds.

The highest increase was for the most expensive  Grand and Premier Cru white wines. Corton Charlemagne (up 142% in 2005) and Meursault Loppin (up 131% in 2005) were the beneficiaries of this puzzling action. The commentators were  not convinced by the superior quality of 2006 over 2005. Other stars included two barrels of Bâtard-Montrachet Cuvée de Flandres which were sold for  about $352 a bottle.

The auction realized approximately the same amount of about $ 6.5 million as last year. Due to a smaller harvest this year, the number of lots at 680 was much less than the 789 in 2005.

Although the auction remains one of the highlights of the Burgundian calendar, what with dinners and tastings lasting for three days, the Hospices de Beaune auction is not seen as a benchmark  for the quality of a vintage. This is a charity auction benefiting local hospitals, so prices are artificial. It is also one of the most prestigious and exclusive events in Burgundy limited to a select number of guests of the producers.

In the past only  négociants from Burgundy were allowed to participate in the auction. But this year, direct bidding has also been allowed resulting in too high biddings, feel the industry watchers.

Comments:

#Posted By : Ariff Jamal                                                                                Date 29 Nov, 2006
Dear Subhash ,

The last Christie's hammer was slammed down at 20.15 on Sunday 19 th November marking the closure of the 146th edition of the Hospices de Beaune wine auction which resulted in an overall value growth of 16% over last year. However, this year was splotched by the race for the white Burgundies with a price increase of 64%.

Of the 676 barrels ( 560 red and 116 white ) auctioned this year collecting a total of 5.54 million Euros, the spectacular sale was the unique barrel offered by the Hospices de Beaune for a charitable association - Beaune " Cuvée des Dames Hospitalières " which alone fetched a value of 200 K€.

The famous actress Fanny Ardant in the company of Princess Margarit of Rumania presided this event, which as usual attracted wines lovers, journalists and passionate from all four corners of the globe.

Alberic Bichot, who celebrates MAB's 175 th anniversary this year, once again maintained the family tradition, enthusiasm and support towards the Hospices de Beaune by acquiring 104 barrels, which represented 15.3% of the totality and again for the 9 th time running reserved the position of the top buyer of the event.

Maison Albert Bichot was in full attendance during this auspicious experience over the weekend by showing the 90 esteemed customers, who attended the event, their new domains and installations, but also tasting their 2006 vintage.

DR.