Annual Cape Winemakers Guild Auction smashes last year’s record result

The 40th Nedbank Cape Winemakers Guild Auction, which was held in Stellenbosch at the weekend, raised more than 10% more than the previous record last year, and netting a cool R16 million (£695,770). 

The annual Nedbank Cape Winemakers Guild Auction, which was founded in 1985, took place over the weekend at the Lord Charles Hotel in Somerset West as well as online, being heralded as “a significant milestone” for the South African wine industry, smashing last year’s total by nearly R2million (£90,000) to raise R16 645 500 (£695,770).

Although just over half of the bidders (55%) hailed from South Africa, the organisers confirmed that the sale attracted 276 bidders from 13 countries, highlighting its international appeal. 28% of those came from the UK, with Australia, Belgium, Canada, Denmark, France, Germany, Hong Kong, Netherlands, Singapore, Switzerland, China, the UAE, and USA also represented.

Fine wine merchant Bordeaux Index  who was the single largest buyer at last year’s auction, buying around 10% of the total auction value was a key participant again at this year’s auction, confirming to db that it nearly doubled its record-setting bids from last year.

“Once more, we were the single largest buyer at the auction, and we are very glad to have an opportunity to support the South African wine industry in such a public way,” sales director, David Thomas said.

“We firmly believe that South Africa is producing the best value wines in the world, and the calibre of the wines on auction this year was outstanding. We’re running a six-week-long campaign on South Africa this year and the auction forms a centrepiece of our efforts, showcasing some of the greatest talents on the Cape. All serious collectors should be buying South African wine.”

The auction comprised 545 lots, comprising 48 different wines (20 wine and 28 red), created exclusively for the auction. Overall a total of 2,118 six-bottle cases sold, with the average price per bottle was R1,210 for the white wines and R1,375 for the reds.

The sale also set a new record for a white wine, with two six-bottle cases of Mullineux Swartland ‘The Gris’ Old Vines Sémillon 2023 selling for R45,000 (£1,956).

The top five sellers by average price included Savage Wines Auction Syrah 2022, Boschkloof CWG Epilogue Syrah 2022 (the first wine offered by winemaker Reenen Borman, since taking over from his father, Guild-member Jacques Borman) and David & Nadia Veiling Chenin Blanc 2023.

The sale – which was 100% sold – was conducted by Strauss & Co, who noted that there was an increase in volume at this year’s auction, with prices similarly “robust”.

“Along with an increase in the number of buyers, it shows the strength of the Cape Winemakers Guild brand,” Roland Peens, wine specialist and auctioneer at Strauss & Co said. “It’s a real honour to sell the very best wines from South Africa’s finest producers.”