Inflation impacts on wine auction

 
 
INFLATION and the difficult economic situation, but also the stiff competition in local and overseas markets - impacted on the Nederburg rare wine auction for the trade held in Paarl on the weekend. This was reflected in a drop (6,62%) in wine sales for the third year running.

The total sales for the 2008 auction was R4,79-million (for 5 496 cases of wine) compared to last year's R5,13-million. Although 3,8% more wine was sold, the average price dropped to R1 270 per case - which is 10% lower than the 2007 average of R1 411 per case.

The highest price paid for any wine, was the R21 000 paid for a case (6 x 750 ml) of the rare Monis Collectors Port Stamp 1948 (R3 500 per bottle) - the second highest price ever paid for a port at the auction.

The most expensive red wine was the Zonnebloem Cabernet Sauvignon 1964 (3 x 750 ml), sold at R7 000, while the average price of the red wines dropped with R200. The average price of white wines (R935 per nine-litre case) was up 10% on last year's price with the highest price for a white wine, was R1 200 paid for a case of Graham Beck Blanc de Blanc 2001.

The charity auction raised R227 000.

For the second year running a restaurant chain group, Cape Town Fish Market was the top buyer, spending R924 800.