Retailers, consumers and prices
Christie’s auction in Geneva on Tuesday claims to have set a world record price for a bottle of red Burgundy. A U.S. buyer bought the 750 ml bottle of 1945 Romainee-Conti for $123,889. But the house failed to sell its showcase lot of the auction — 315 bottles representing every vintage from ’45 to ’07 produced by each of the first five growths of Bordeaux.
Meanwhile in New York on Saturday, the star lot – a complete vertical of Chateau Mouton-Rothschild spanning ’45-’07 sold to an Asian collector for $150,000.
New York’s branch of Christie’s is auctioning a collection of 64 bottles of Mouton-Rothschild on Saturday that spans the years 1945-2007. It’s Geneva branch is auctioning a collection of 315 bottles spanning the same 62 vintages, but from all five first growths including Mouton-Rothschild on Tuesday. (See story “Mystery collector to sell rare wines” [ID: nN10231397])
Saturday’s lot is selling for between $100,000 and $150,000, while Tuesday’s is estimated to sell for $696,000 to $929,000. And the price difference presents collectors with an arbitrage opportunity.