Wine Talk

Snooth User: ChipDWood

A wowser from yesterday's Morrell Wine Auction...

Posted by ChipDWood, Oct 3, 2010.

I was working the sale (and getting paid to do so, therein lies your full disclosure)- but I am not being paid to report on what occured.

In short: It was a rousing success.  We'll have to wait to get the more detailed numbers, but here are a few broad descriptions and notes of what went down at the Morrell Wine Bar & Cafe yesterday:

  • The Lafite was flying out at near (and on multiple occasions surpasing) high estimates.  Without looking at the hard data, I would estimate that it performed the best of the First Growths.

  • The other first growths did just fine as well, with Chateau Latour garnering more attention than I had previously thought, hammering at near high estimates for all vintages and formats.

  • The Chateau d' Yquem: all 287.4 gallons of it, 1.4 TONS (as we figured) of the stuff did well, as well.  I waas hoping to buy at least half of it to fill up the hot tub on the back of the Kogo Yacht that I plan on renting for a couple months to explore the tropics this winter.

    My Dr. said I should "live a little".

  • "The Story of the night", without ANY doubt was the sale of a case of the 1947 Chateau Cheval Blanc.  In excellent condition, recorked and re-capsuled at the Chateau itself in 1995 with levels into the neck for each bottle, "lot # 844" was estimated to sell between $36,000 - $60,000.  When the dust began to settle, the bidding slowed, and the hammer finally came down by auctioneer David Molyneux-Berry M.W.: the final hammer price was $74,000.

74 GRAY-UND.  Before premium.  Now, keep in mind some houses have buyers' premiums approaching 20%- while Morrell has stuck to an 18% figure that played to both their advantage as well as to the buyer and seller's advantage concerning a lot of such lofty value at acquisition.  1% in this case, padon the pun, means $740.  That makes a difference.

SO, with 18% premium, the purchase of the case of mint condition 1947 Cheval Blanc comes to $87,320- before sales tax.  Keep in mind too that sales tax in Manhattan has reached upwards of 9.7% (give or take a tenth of a point)- so I would ship this, delicately, to another location to avoid such exhorbitance on the part of the Borough.

With that I tie the bow of an incredibly brief review of Morrell's auction on Saturday.  More to come and break down once the full set of results are in- and it should be interesting to compare these reults (of a top-flight cellar) to some of the other whoppers coming down the pike as well as some that have already taken place.


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