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News
Masseto shows investment potential
A Nebuchadnezzar of Masseto 2007 has been sold for US$49,000.
The 15-litre bottle was sold to an Asian buyer after a “fierce” bidding war in Sotheby’s New York salesroom.
Although rarity will have driven bidding, a broader look at Masseto’s performance at auction shows that it has been appreciating steadily over the last 10 years or so, in line with other Super Tuscans.
Its status as a single site Italian Super Tuscan coupled with a broadening market could see it continue to shine in the future.
The auction house reported that sales of the pure Merlot wine were increasing steadily in all of the major auction houses around the world.
Since 1998, the value has risen steadily with a bottle of 1998 apparently now worth 446% more than it was over 10 years ago and the average increase at auction is 322%.
Jamie Ritchie, CEO and president of Sotheby’s Wine, Americas and Asia, said: “Masseto confirmed its highly desirable status with bidders from Asia, Europe and the Americas fiercely competing to win this very rare Nebuchadnezzar of Masseto, which sold to a private Asian buyer for $49,000 after a protracted bidding battle.
“This was one of only eight Nebuchadnezzars produced, five of which are still at the winery. We were delighted that Giovanni Geddes, CEO of the Tenuta was able to be in our New York salesroom to witness the bidding war.”