Vega Sicilia from 1960s to be sold at auction

Appearing in the auction on 21 April, the 57 lots span vintages from 1960 to 1992 usually in cases or magnums.

They will raise a total of £83,130 if they all reach their high estimate prices. Stephen Mould, senior director and head of department Europe for wine, told the drinks business that “they could well go over their estimates.”

Sotheby’s had revised its prices downwards during the worst months of the crisis but Mould noted that prices had been rising steadily since the beginning of the year.

“There seemed to be quite a demand in February this year,” he said. “Prices are now back up to and in cases exceed what they were at the beginning of 2008.”

Mould went on to say that due to the positive signs in recent auctions both in London and New York the house might have to adjust its estimates in future sales.

He commented that the number of buyers from Russia had dropped during the crisis but that their places had been taken by an increasing number of Asian buyers who were focused, not only on the first growths of Lafite and Latour, but also with online buying.

“What we are finding is that Asian clients like to bid live online as it gives them a greater feeling of being involved in the auction,” Mould said. “A higher proportion are doing that than telephone bids.” 

European bidders were also returning in greater numbers and he concluded that, “the market seems to be firming up across the board from Asia to Europe.”

Also appearing in the auction will be two cases of Lafite 2000 each with an asking price of £12,000 to £16,000, five magnums of Mouton Rothschild 1959 at £10,000 to £15,000, a case of Romanée-Conti 1988 for £35,000 to £50,000 and cases of Léoville Las Cases, Mouton and Château Margaux 2005.

Rupert Millar, 15.04.10