The First Art Newspaper on the Net Established in 1996 United States Tuesday, September 16, 2014


For Auction Houses All that Glitters isn't Gold, Some of It is Wine
Vintages Spanning 139 Years That Have Never before Left the Château’s Cellars. Photo: Sotheby's.

By: Leslie Gevirtz

NEW YORK (REUTERS).- Like gold, top wines are highly prized, represent wealth and are selling near their historical highs.

Prices of the five premier cru Bordeaux -- Chateaux Lafite Rothschild, Haut-Brion, Margaux, Latour and Mouton-Rothschild, and the grand crus of Burgundy, particularly Romanee-Conti, are at or above 2007 levels.

"During times of economic stress and worry, buyers look to safe investments and gold is seen as a defensive strategy. It's tangible, has intrinsic value and is a good diversifier ... The same can be said for the top growth Bordeaux and for the same reasons," said Jennifer Simonetti-Bryan, an independent wine consultant.

"With markets such as China coming on board with eyes only for the top growths, it is a promising outlook for them."

Promising for the auction houses, too.

Sotheby's four Hong Kong wine auctions last spring were successful, according to Robert Sleigh, the company's vice president of wine. "Obviously, Asia continues to drive the prices in wine."

Christie's wine auctions in London, Hong Kong, New York, Geneva and Amsterdam, had sales of $13.9 million in the first half of the year, up 18 percent from the same period a year earlier. Asian wine buyers represented 43 percent of the sales figure, Christie's spokeswoman Erin McAndrew said.

Christie's is starting its fall season early with its first auction on Sept 18 in Hong Kong followed less than a week later by another in New York, according to Charles Curtis, its head of wine sales.

"I'm an optimist," he said. "I'm feeling overall very positive about the fall season - and even 2011."

Prices at spring auctions exceeded expectations. Seventy bottles Chateau Lafite Rothschild, which auction house Acker Merrall & Condit expected to fetch between $125,000 and $175,000 in Hong Kong sold for $320,250 - including the buyer's premium. That's $4,575 a bottle.

Sotheby's has 2,000 bottles of Lafite coming up for auction in Hong Kong in October with a pre-sale estimate of between $1.5 million and $2.5 million.

One Singapore-based wine broker, who managed to get a case of each of the top five growths for roughly $77,000 during spring sales, said they were being snapped up.

Saeed Shah, who works for Premium Liquid Assets Pte, Ltd, described the Asian demand for Lafite as an "obsession."

"As we get more and more millionaires worldwide we see that these same people drink these wines," Shah said, adding that with their limited production the law of supply and demand takes over.

As for gold, it is nearing its record high of $1,264.90 that it touched on June 27.
(Reporting by Leslie Gevirtz; Editing by Patricia Reaney)

Wine Auctions | Sotheby's | Christie's | Jennifer Simonetti-Bryan |


Last Week News

August 17, 2010

Metropolitan Museum Announces Pablo Picasso Exhibition Drew 700,000 Visitors in 17 Weeks

National Gallery of Australia Unveils Monumental James Turrell 'Skyspace'

Dusseldorf's Quadriennale 2010 to Present Exhibition by Joseph Beuys

Exploring One of Paris' Most Exceptional Attractions: Cinemas

Tate Collection Archivist Says Uncovers Real-Life Quasimodo

Florence and State Spar Over Michelangelo's Masterpiece 'David'

Jimi Hendrix Items on Show in His Former London Home

Frank Auerbach Painting Emerges After 30 Years in Private Hands

Bob Dylan to Exhibit at the National Gallery of Denmark

Old Irish Bones may Yield Murderous Secrets in Pennsylvania

Rock and Roll Hall of Fame Foundation Establishes a $5 Million Endowment

Newly Acquired Works from the Walker Collection Featured in Exhibition

Jazz Scene Photographer Herman Leonard Dies at 87 in Los Angeles

Diverse Cultures Contributed to New Mexico Art

Remains of Mexican Independence Heroes Underwent Restoration

World Famous Terracotta Army Arrives in Stockholm for Exhibition at Ostasiatiska Museum

Lebanon Tries to Retain Arabic in Polyglot Culture

Spain Debates Enshrining Ancient Tradition of Bullfighting as Culture

Citizens of Turkey See Ottoman Empire Legacy in New Light

World Record Porsche is Highlight of $18.6 Million Sale

Met Opera Breaks Box Office Record, Topping $2.6 Million

August 16, 2010

Funerary Masks of Six Maya Rulers on View at the National Museum of Anthropology

Tate Collection Archivist Says Uncovers Real-Life Quasimodo

Florence and State Spar Over Michelangelo's Masterpiece 'David'

Jimi Hendrix Items on Show in His Former London Home

Frank Auerbach Painting Emerges After 30 Years in Private Hands

Bob Dylan to Exhibit at the National Gallery of Denmark

Old Irish Bones may Yield Murderous Secrets in Pennsylvania

Aperture Foundation Announces New Exhibition: "Paul Strand in Mexico"

Orthodox Flock to Once-Banned Holy Site of Sumela Monastery in Turkey

Josef Koudelka's Testimony of the Prague Invasion Opens in Buenos Aires

Jackie O's Pearl Necklace Makes Over the Odds at Bonhams

Richard Deacon at the Museum of Modern and Contemporary Art of Strasbourg

MoMA to Present a Weeklong Run of Goran Paskaljevic's Honeymoons

Art Gallery to Save Energy of 80 Households a Year, with "Green Gallery"

US Sound and Media Artist, Stephen Vitiello in Sydney for 20th Kaldor Public Art Project

Clarke Auction's Eighth Fine Auction Opens at Spectacular New Larchmont Location

Amon Carter Museum of American Art Receives Federal Digitization Grant

Tourcoing Fine Arts Museum Announces Eugène Leroy Exhibition

Le Fresnoy to Show "ABC: Contemporary Art from Belgium"

Meeting Points: Ronit Agassi, Gary Goldstein at the Tel Aviv Museum of Art

The Indian Empire: Significant Works from the Portvale Collection on View in Sydney

The Woodland Garden Photographs of Theodore Nierenberg to Be Shown at the Bruce Museum

Christopher Henry Gallery Presents the London Biennale 2010

Daniel M. Finley Appointed President and Chief Executive Officer of the Autry National Center

Three Contemporary Art Exhibition Concepts to Be Realized Through Major Award to Curators

Freeman's Auctioneers to Sell the Estate of Joseph S. Sorger

August 15, 2010

Turkey's Culture Minister Announces Discovery of Two Tunnels Leading to Ancient Tomb

Aperture Foundation Announces New Exhibition: "Paul Strand in Mexico"

Orthodox Flock to Once-Banned Holy Site of Sumela Monastery in Turkey

Josef Koudelka's Testimony of the Prague Invasion Opens in Buenos Aires

The Reassembled Archaeological Collection of Max von Oppenheim

Museum of Contemporary Art Announces "The Art Auction"

Archaeologists Discover the Tomb of a Teenager Buried for Over 1600 Years

In September, All Eyes will Be on Kees van Dongen Exhibition

Seattle Art Museum Presents Behind the Scenes: The Real Story of Quileute Wolves

Titanic Salvage Company Wins Award from Virginia Court

High Museum to Offer Half-Price Tickets for Dalí Exhibition

Iconic Ear Pendants by JAR Highlight Christie's October Jewels Sale

Arkansas Arts Center to Present Exhibition of Mexican Art Since 1910

Sacred Artifacts Returned to Northern California Tribe

Walker Art Center's Senior Graphic Designer Emmet Byrne Promoted to Design Director

Single-Owner Collection of Whimsical Tobacco Jars to Highlight Summer Auction at Bonhams & Butterfields

A Special Exhibition Commemorates the 75th Anniversary of Social Security

Tip: Shepard Fairey Offers Behind-the-Scenes Studio Tour

Ohio-Based Artist Berry van Boekel Exhibits at Country Club

New Amazon Monkey Species Discovered in Colombia

MoMA to Celebrate Experimental Filmmaker Barbara Hammer with Exhibition

August 14, 2010

Winner of Bravo's Work of Art, Abdi Farah, to Have Solo Exhibition at the Brooklyn Museum

In September, All Eyes will Be on Kees van Dongen Exhibition

Seattle Art Museum Presents Behind the Scenes: The Real Story of Quileute Wolves

Titanic Salvage Company Wins Award from Virginia Court

High Museum to Offer Half-Price Tickets for Dalí Exhibition

Iconic Ear Pendants by JAR Highlight Christie's October Jewels Sale

Arkansas Arts Center to Present A Century of Revolution: Mexican Art Since 1910

HBO Archives to Celebrate 75th Anniversary of Documentary Series

Romantics Display Opens at Tate Britain Following Major Re-Hang

Archaeologists from Cardiff University Discover Ancient Roman Buildings

Works by Rackstraw Downes on View this Winter at the Portland Museum of Art

London Show Explores Skin as Human Body's Frontier

Tacheles: Berlin's Alternative Scene Fights for Survival

Century-Old Scotch Pulled from Antarctic Ice at the Canterbury Museum

New Research Suggests Orangutans Not so Solitary

8-Year-Old Painting Prodigy "Mini Monet" is New Art World Star

Installations Highlight the Contemporary Art of the Dallas Museum of Art

The Royal Collection Announces A Victorian Christmas at Windsor Castle

Auction Offers Pieces of Country for Conservation

Maine Ram Island Ledge Lighthouse with Million-Dollar View for Sale

Nevada Museum of Art Opens Fletcher Benton: The Artist's Studio

President Obama Forcefully Endorses Mosque Near Ground Zero

Photographer Returns to Trace Liverpool Families

The AIA Recognizes Nine Projects with the 2010 CAE Educational Facility Design Awards

August 13, 2010

Extremely Rare 2,200-Year Old Gold Coin Uncovered by Excavations at Tell Kedesh

HBO Archives to Celebrate 75th Anniversary of the March of Time® Documentary Series

Romantics Display Opens at Tate Britain Following Major Re-Hang of the Clore Galleries

Archaeologists from Cardiff University Discover Ancient Roman Monumental Buildings

Works by Rackstraw Downes on View this Winter at the Portland Museum of Art

London Show Explores Skin as Human Body's Frontier

Tacheles: Berlin's Alternative Scene Fights for Survival

'Lucy' Species Used Stone Tools, Fossil Study by California Academy Says

Mumbai's Taj Hotel Reopens Sunday After 2008 Attacks

MoMA Launches Free iPhone App, Now Available on App Store

Christina Aguilera Lends Her Voice to Support the Arts

Money Fair in Boston Showcases $100,000 Bills, Rare Coins

NYC Seeks to Reclaim Notable Central Park Drawings

Museum of Modern Art Celebrates Pioneering Filmmaker Ida Lupino

Dr. Shirley Thomson, Former Director of the National Gallery of Canada, Died

Nashville Last Stop for Masterpieces Before Works Return to Paris

New York City on Track for Record Number of Tourists in 2010

Bonhams to Sell Replica Spitfire for the Royal British Legion

Aspen Art Museum's Summer Benefit Gala artCRUSH Raises $1.5 Million

Renowned International Artists to Display New Works at Beyond/In Western New York

Award-Winning 'Cathy' Comic Strip Ending After 34 Years

BLM Wraps Up Meetings on Colorado River Art Proposal

Muslim Gravestones Removed from Jerusalem Cemetery

South Korean Fashion Designer Andre Kim Dies at Age 74

National Museum of American History Accepts Red Hat Society Donation

August 12, 2010

More than a Dozen Multi-Million Dollar Cars Lead RM's Silver Anniversary Monterey Sale

'Lucy' Species Used Stone Tools, Fossil Study by California Academy of Sciences Says

Mumbai's Taj Hotel Reopens Sunday After 2008 Attacks

MoMA Launches Free iPhone App, Now Available on App Store

Christina Aguilera Lends Her Voice to Support the Arts

Money Fair in Boston Showcases $100,000 Bills, Rare Coins

Renowned International Artists to Display New Works at Beyond/In Western New York

Fundació Antoni Tàpies Presents a New Selection of Works from the Collection

Very Original Features: Is this United Kingdom's Oldest Home?

Martin Luther has Wittenberg, Germany in a Stir 500 Years On

Smithsonian Extends Chance to Glimpse Rare Blue Diamond

Contemporary Art Museum St. Louis Appoints Dominic Molon as Chief Curator

Two Tableaux Vivants After Regent Portraits by Jan de Bray

Work Begins on Deluxe 17,000-Square-Foot Addition to Dan Morphy Auctions Gallery

It Bag, Watch Out: France's Duvelleroy Folding Fan is Back

Hannah Eidinow's New Street Theatre Commission for the Vauxhall Collective Comes to Edinburgh

Winslow Homer Classic Portrait Featured in American Treasures Stamp Series

SFMOMA to Present Exposed: Voyeurism, Surveillance and The Camera Since 1870

Relic from Darwin's Epic Beagle Voyage for Sale at Bonhams

Rare Communion Silver Bought for Birmingham

Asia's Most Sought after Wine in Pristine Condition with Perfect Provenance

Artistic Explorations by 22 Artists at Benrimon Contemporary

Clare Twomey's First Solo Exhibition in the United States Will Be at The Nelson-Atkins Museum of Art

Most Popular Last Seven Days



1.- Scientists at Germany's Karl May Museum weigh returning Native American scalp

2.- Totally Thames launches Florentijn Hofman's first ever UK commission: HippopoThames

3.- Restoring Albrecht Dürer's masterpiece The Arch of Honour of Maximilian I

4.- German Consulate in New York presents the work of forgotten 20th century master painter

5.- Cave carving in Gibraltar may be first known example of Neanderthal rock art

6.- Monet discovered in suitcase taken into German hospital by 'Nazi art' hoarder

7.- Gustav Klimt's 'Portrait Adele Bloch-Bauer II' on view at the Museum of Modern Art

8.- Dreadnoughtus: Meet Argentina's supermassive, 85 feet from nose to tail, 'fear nought' dino

9.- Monet's 'Impressionism' birth dated by Texas State University's 'Celestial Sleuth'

10.- 'Chess' man star attraction at tattoo convention in Peru



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site