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BEVERAGE
WINE AUCTION
TRENDS OF 2022 The fine wine auction market has performed exceptionally well in 2022. Tim Triptree, master of wine and international director of Christie's wine and spirits department, shares his insights on the wine trends shaping the market and what’s in demand.
Christie’s has had an exceptional year so far, with a global sell-through rate of 92 percent and a 118 percent global average hammer over low estimate. Highlights of the year so far have included a stellar line-up of collection sales, including Iconic Wines From Joseph Lau, The Visionary’s Spectacular Cellar - the most valuable single-owner wine collection ever sold at Christie’s, and Generations of Jayer, Burgundy from the Historic Cellars of King's College, Cambridge. The appetite for the world’s rarest and most prized vinous treasures with exceptional provenance shows no signs of abating.
Direct-from-estate auctions: exemplary provenance Christie’s has a full schedule of auctions in Hong Kong, Geneva, London and Los Angeles for fall 2022, including many direct from wine estate sales, which always generate excellent results due to the additional allure of late-released wines that have been evolving slowly in the perfect maturation conditions of the estates’ cellars.
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HOSPITALITY NEWS ME | DEC 2022-JAN 2023
Of particular note is the 261 lots of finest and rarest burgundies direct from Domaine Ponsot in Geneva to celebrate its 150th anniversary. The auction, which took place on November 8 and was 100 percent sold, included the opportunity to buy more than 400 rare bottles, as well as a chance to acquire an entire barrel of Domaine Ponsot’s Clos de la Roche “La Cuvée Hippolyte” from the 2022 vintage. The cuvée is named after the current owner Rose-Marie Ponsot’s grandfather and was made specially for the anniversary. The unique cuvée comes from grapes hand-picked from 70-yearold vines planted on the slopes of the land purchased by Hippolyte in 1922.
Fine wine trends
Other direct-from-estate sale highlights include lots from Ridge Vineyards’ cellars to celebrate its 60th anniversary, with wines dating back to 1964 and a selection of Clos des Goisses Champagne direct from the cellars of Champagne Philipponnat, both being offered in the Christie’s London sale on December 1 and 2. Demand for the world’s rarest wines and spirits remains high.
At the start of 2022, Burgundy wines from the 2020 vintage year were released en primeur and demand for these wines was extremely high due to a combination of the excellence of the year for both reds and whites, and because collectors were mindful of the next en primeur at the start of 2023, a year in which volumes will be significantly down due to severely restricted yields as a result of spring frosts
At auction, France leads the way in terms of the value and volumes of wines that are sold in the secondary market, the finest wines originating from Bordeaux, Burgundy, Champagne and the Rhône. The popularity of Burgundy remains high, both red and white. At the start of the Burgundy boom, it was the red that proved more popular. But lately, strong demand for Grand Cru whites in particular has led to impressive increases. Famed vineyards, such as Montrachet, BatardMontrachet & Corton Charlemagne from world-renowned producers, such as DRC, Domaine Leflaive and Coche-Dury, are dominating the market.
