Online auctions reveal unexpected price increase in fine wine

iDealwine’s latest April results show buyers’ undiminishing thirst for Champagne, Bordeaux and Burgundy due to the weak euro.

IDealwine’s two online auctions in April attracted over 1,000 buyers who represented 30 different countries, with the usual crowd pleasers of 1990’s Petrus, Cheval Blanc and Montrose topping all initial estimates.

A double magnum of 1979 Mouton Rothschild increased 25% to sell for €840, and a magnum of 1999 Chaillots from Thierry Alleman went for €258 – double iDealwine’s estimate.

Arthur de Lencquesaing, international development manager of iDealwine also commented on the Asian buying market.

“Gevrey-Chambertin was one of our stand out performers. Armand Rousseau’s prices jumped in favour of the weak euro, a factor backed by buyers from Hong Kong and Singapore.

“Among the wines sold to Asian buyers, a Chambertin 1988 was awarded €960, an increase of 80% compared to the iDealwine estimate. The 1993 also managed to reach €1,380.

“In Champagne, Krug’s success was undeniable, with a Clos du Mesnil 1979 awarded €2,520, a price increase of 117% compared to the iDealwine estimate.

A private buyer from Hong Kong furthermore paid €1,140 (+63%) just to get his hands on a bottle of the Krug Collection 1976.”