Auction   reports

MW WINES

(MARCH & APRIL 2018 AUCTION REPORT, BY ANTHONY CAPUTI)

MW Wines continued to see strong results in the secondary market for the first few months of 2018, receiving much positive feedback from vendors delighted at their results as final hammer prices continued to exceed estimates. It should also be noted that clearance rates are on the increase, approximately 70 per cent; a sure sign buyer’s insatiable appetite for aged fine wines continues. While the catalogues were slightly smaller for March and April than previously, a healthy $685,000 in sales was spread over the two auctions.

More than $380,000 worth of wine changed hands in March, at the clearance rate of 70 per cent. This was considerably higher than the mid 60s per cent clearance rates from January and February. This trend continued in April with more than $303,000 worth of wine sold at a clearance rate of 70 per cent.

Despite the catalogues being less hefty than the behemoths of 2017, the quality of wine being brought in by our vendors tempted many of our buyers to dig deep into their pockets. Iconic Australian wines such as Penfolds Grange, Bin 707, Rockford Basket Press, Henschke Hill of Grace, Mount Mary Quintet and Giaconda Chardonnay, among others, achieved significantly higher final hammer prices above their reserves. Old world gems from Bordeaux, Burgundy, Champagne and Barolo continued to excite our