Acker Merrall & Condit, America's oldest fine wine merchant, today announced results from its September 10th New York auction which totaled $3.8m, and 97% sold.
John Kapon, CEO of Acker Merrall & Condit said,
"We couldn't be more pleased with the strong start to a busy Fall season. Absentee bids were a record high for us, and there was also a robust turnout in the room and live online, with bidders from four continents participating.
"With all of Wall Street's volitality, wine continues to be one of the most stable investments around, and one you can drink with pleasure if you aren't in it for business."
Domaine de la Romanee Conti and Chateau Lafite Rothschild continued to dominate the top lots in the salesroom, comprising nine out of the auction's ten top lots.
Equal top lot status was shared four ways between two 12 bottle lots of Chateau Lafite Rothschild 2000, one 12 bottle lot of Richebourg 1999 and, remarkably a mere three bottles of the magic Romanee Conti, DRC 2003 - all of which sold for $29,280.
Other impressive sales included a 12 bottle assortment of 2001 DRC wines for $26,840, six bottles of Chateau Lafite Rothschild 1982 for $24,400 and just two magnums of La Tache, DRC 1990 for $23,180.
Some of the most spirited bidding for the sale was for a series of rare lots of Domaine Leflaive's Montrachet, and Burgundy in general was extremely strong.
Kapon continued, "Burgundy was on fire this weekend. It seems as if the market is warming up for the next month's collection of Don Stott, which is arguably Burgundy's greatest collection of all-time.
I can't wait for October, but first, we say hello Hong Kong. I am sure they will have a lot to say about the market this weekend."
