Wine gets better with age. And if the wine has been aged with care it becomes very valuable as people are willing to shell out big bucks to buy it to celebrate a special occasion. The auction houses have also got into the act and they bring rare and aged lots of wine for special wine auctions that fetch for them record prices. Last week, Christie’s New York brought one such lot of old wines for auction. It was 1961 Pétrus that fetched $144,000 against pre sales estimates of $50,000 to $90,000, becoming the most expensive wine.
This is a new record for Pétrus wine as it has become the most expensive Pétrus wine ever sold at an auction. The auction that was held on October 29 was rather successful as the total sales figure added up to $2,105,340. The approaching festive season helped push the price up as it is as old wine could be the best way to make this Christmas merry. The uncertainties of the economy did not dampen the spirit of the bidders at the auction. Apart from the top lot, 11 bottles of 1961 Pétrus was sold for $90,000 to a European buyer. Another case of Lafite 1982 was sold to an Asian collector for $50,400.
Charles Antin, the wine specialist at Christie’s America was very happy with the result of the auctions. He reaffirmed that the wine auction market was strong despite the prevailing economic conditions. Pretus turned out to be the star of the auction by consistently fetching prices higher than the estimates. The wine was described as deep, full, fleshy with silky Pomerol texture; packed with fruit and generosity. Do you agree with the assessment or you have your own favorite?