Right on the heels of a $365,000 offering of Château Latour in Los Angeles, a 77-lot consignment of Latour brought in $439,450 (inclusive of the 17.5 percent buyer's premium) at a NYWinesChristie's sale in Manhattan today. The massive offering was consigned directly from the château by François Pinault, the owner of both Latour and Christie's auction house. The sale total exceeded pre-sale high estimates by 65 percent, and the lots were 90 percent sold.
Highlights included a case of the classic Latour 1961, which sold for $54,950, 252 percent above the wine's average price in the third quarter 2003 Wine Spectator Auction Index. A dozen bottles of Latour 1928 brought $47,000, 356 percent above the index average, and an imperial of Latour '28 fetched a record $41,125.
"Bidders were prepared to pay a serious premium for wines that had never moved from the château since they were produced," said Richard Brierley, head of Christie's North American wine sales. "For example, a case of Latour 1959 from the Pinault consignment brought $32,500, whereas two other cases of Latour 1959 in good condition from private cellars sold for $16,450 each -- roughly half the price."
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Read about the other recent Latour auctions: