It was no surprise that Burgundy was the star of the Acker, Merrall & Condit auction "The Man With the Golden Cellar" on October 26-27, but young vintages made an unusually strong showing, and not just the celebrated 1999: three bottles of 2001 Romanee-Conti went for $15,000, and six bottles of 1996 Musigny from G. Roumier for $19,000.
After the dust settled, the two-day tally was a spectacular $15.5 million.
Courtesy of Acker Merrall & Condit
This was not only the biggest auction of the year, it was the second-most lucrative of all time, trailing only Acker Merrall & Condit's "The Cellar" from 2006.
The auction started Friday afternoon at Le Bernardin with a wine tasting that had seasoned buyers jockeying for pours of Leroy Clos de Vougeot (my favorite), Dugat-Py Charmes Chambertin, Roty Chambertin Tres Vieielles Vignes, all 1999s. Oh, and there were bottles of 1989, 1998 and 2000 Haut Brion, but the crowd was at the Burgundy table.
Courtesy of Acker Merrall & Condit
And as we took our seats in the main dining room all 100 of us were treated to a civilizing round of 1996 Salon Champagne, then John Kapon, the auctioneer, Acker Merrall & Condit scion, and the single most important figure in the secondary wine market today, pulled two open magnums of 1998 Petrus from behind the dais and sent them around the room. I counted four glasses of wine standing in front of Kapon; let the bidding begin.
I shared a table with the amiable and generous Gorky Rahman, a wine buyer who ordered a bottle of 1983 Chateau de Beaucastel, a lean Chateauneuf-du-Pape with a luscious body, and we enjoyed dinner: yellowfin tuna and a foie gras tartine, white tuna poached in olive oil, sea bass and wagyu with lemon brown butter. He was stunned by the prices younger wines were commanding--a case of the 1989 Haut Brion, the same as at the tasting, went for $17,000; six bottles of 2004 DRC Montrachet, the world's greatest white, went for $17,000 to a bidder in the room.
Courtesy of Acker Merrall & Condit
The night ended with older Burgundies, and another round with a magnum by Kapon, this time a 1954 Petrus. That is, that's how the auction ended: many adjourned to Cru, the unofficial Acker Merrall & Condit clubhouse, where they pulled out bottles from their own cellars and tasted deep into the night.
The next afternoon was more somber, and sober, though bidders were greeted with a glass of 1999 Dom Perignon. Kapon is a unique auctioneer who believes in selling smaller lots: instead of a case positioned as a trophy, he splits the 12 bottles into, say, four lots of three bottles each, with the winner of the first lot having the option to take the entire case. Some times they do, but mostly they don't, which means four times the work for Kapon (this weekend he auctioned 2,000 lots, which took 12 hours of nonstop talking); it also means fewer headline-grabbing lots selling for $150,000. But it attracts bidders who might pay a premium for a few bottles but for whom a case is out of reach, such as the four sets of three bottles of 1999 DRC Romanee-Conti that went for about $25,000 each.
It adds up. A Methuselah of 1999 Romanee-Conti went for $127,000, a shocking sum even for this rare of a large format; six magnums of 1999 DRC La Tache went for $58,000; even a case of G. Roumier 1999 Musigny punched above its weight, and went for $48,000.
Courtesy of Acker Merrall & Condit
The way the 1999 Burgundies moved expect more to come on the market next year. And expect a run on the 2005, arguably the best year for Burgundy ever; this auction stopped with 2004, which makes me wonder what's still in the Golden Cellar.
-- Oliver Schwaner-Albright