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SOURCE Hart Davis Hart Wine Co.
Yearly auction totals up 37% to $36 Million
CHICAGO, Dec. 17, 2013 /PRNewswire/ -- Hart Davis Hart completed the most successful year in the company's history, following another strong showing at its two-day December auction. Over the course of seven auctions held in 2013, HDH netted $36.07 million, making Hart Davis Hart the largest seller of fine wines at auction in the United States. HDH experienced 37% growth while all major competitors declined.
HDH created the world's most active, accurate, and efficient marketplace for wine. The firm achieved by far the highest sell-through rate in the industry, passing only seven of 12,350 lots offered. Five of the seven auctions were 100% sold. HDH also had a record number of bidders and buyers in 2013. By offering impeccably sourced wines, reaching global bidders and a dedication to service & integrity, HDH has achieved market-leading results.
"This was truly an incredible year for our team and for our clients," said CEO Paul Hart. "We came into 2013 with prospects for growth and our results exceeded expectations. Consignors and bidders have more faith and trust in HDH."
As expected, bidding for Burgundy remained strong and 2013 was a year full of world records. In February, a case of 1990 Cros Parantoux from Henri Jayer sold for $113,525, after global bidders from Europe, Hong Kong and the United States battled for the lot. At "A Celebration of Burgundy" in March, a case of 1991 Clos de la Roche, Vieilles Vignes, Domaine Ponsot hammered at the world record price of $19,120, nearly twice its estimated value of $7,000-10,000. In September, 12 bottles of 1990 Clos St.-Denis, Domaine Dujac also shattered pre-auction estimates ($10,000-$15,000) and set a new world record of $23,900.
Over the course of the year, HDH has seen significant growth in online bidding as well as noteworthy increases from South American bidders. Eager private and trade bidders participated in the saleroom, on the telephone, and via live internet bidding, hailing from more than 40 states, the District of Columbia and Puerto Rico, as well as Australia, Austria, Belgium, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Macau, Malaysia, Mexico, Norway, Russia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, the Netherlands, the Philippines and the United Kingdom.
The December Auction achieved remarkably strong results, selling 99% of the lots and realizing $6,340,634 against a pre-sale auction estimate of $4,453,800 -$6,640,160. Wines from Domaine de la Romanee-Conti continued to see intense bidding and top prices with 2005 Romanee-Conti, Domaine de la Romanee-Conti (3 mags) (owc) (est. $60,000-90,000) selling above its presale estimate for a world record price of $107,550.
Top Five Lots of 2013 (inclusive of 19.5% buyer's premium):
Auction 1302, Lot 610: 1990 Vosne-Romanee, Cros Parantoux, Henri Jayer (12 bs) (est. $70,000-110,000) $113,525
Auction 1312, Lot 1948: 2005 Romanee-Conti, Domaine de la Romanee-Conti (3 mags) (owc) (est. $60,000-90,000) $107,550
Auction 1305, Lot 1331: 1990 La Tache, Domaine de la Romanee-Conti (12 bs) (est. $35,000-55,000) $59,750
Auction 1305, Lot 1134: 1978 Domaine de la Romanee-Conti Assortment (12 bs) (est. $30,000-45,000) $53,775
Auction 1312, Lot 1170: 1990 Romanee-Conti, Domaine de la Romanee-Conti (3 bs) (owc) (est. $30,000-45,000) $50,190
About Hart Davis Hart Wine Co. Hart Davis Hart Wine Co. is both a dynamic retailer and an internationally prominent wine auction house, occupying a unique position in the rare wine market. We offer collectors and restaurateurs a broad range of options for buying and selling wines, providing unrivaled expertise and personalized service. Founded in October 2004, Hart Davis Hart represents the alliance of three highly-respected industry leaders: John Hart, Michael Davis, and Paul Hart, with a combined experience of nearly 90 years in the rare wine business. John Hart, a renowned expert, has been a leader in the rare wine retail business for over three decades. With extensive careers at Christie's, Davis & Company, and Sotheby's, Michael Davis and Paul Hart are the most experienced wine auctioneers in America. Hart Davis Hart has emerged as one of the most innovative and trusted sources for rare wines in America, with over 150 years of combined experience in the specialized field of fine and rare wines. No other firm can approach their level of expertise, network of relationships, or dedication to service.
For more information on Hart Davis Hart Wine Co., please contact Hart Davis Hart at 312.482.9996 or visit hdhwine.com.