Wines & Vines Home
   
 
Welcome Guest
LOGIN |  CREATE ACCOUNT
 
ADVERTISEMENT
 
 
 
02.24.2014  
 

Premiere Wine Auction Nets $5.9 million

The Napa Valley trade auction proceeds almost double than last year

 
by Paul Franson
 
 
Alternative text
 
Auctioneer Fritz Hatton sells the last lot. Photo: Bob McClenahan, NV Vintners.

St. Helena, Calif.—The 18th annual Premiere Napa Valley futures auction raised $5.9 million Saturday, up 90% from last year’s already strong $3.1 million.

The previous record was $3.12 million in 2012.

The trade auction promotes Napa Valley wines while it raises money used by sponsor Napa Valley Vintners to support the valley’s wine industry.

Premiere Napa Valley is for the trade only, and sold out quickly to 600 top buyers from eight countries and 28 states who paid to attend, as well as members of the media.

This auction is unlike the vintners’ Auction Napa Valley in early June, which welcomes consumers and donates its proceeds to Napa Valley medical and youth programs.

The heady auction total was undoubtedly fueled by the industry’s anticipation of the superb 2012 harvest, which accounted for more than 90% of the lots. Most of the wines won’t be delivered until later this year or next year.

The two preceding years, 2010 and 2011, were more challenging, as was evident in a retrospective of the 2009, 2010 and 2011 Napa Cabernets sponsored by the vintners.

Early word is that the 2013 wines may turn out to be even better. The hefty total also reflects the continuing recovery of the economy and especially the luxury wine market.

Most of the wines were Cabernet or Cabernet blends. Only seven weren’t red.

Average bottle price $283
The average price per bottle sold was $283, and that’s a wholesale prices. The wholesalers, retailers and restaurateurs who bought them generally price them higher to customers, though some use the wines for publicity or to reward good customers.

The 225 lots included five, 10 or 20 cases of one-of-a-kind wines donated by members, making price comparisons difficult, but there’s no question that prices were up.

The strongest bidding went for a Scarecrow Wine lot of 60 bottles from the J.J. Cohn Vineyard made by Celia Welch. The lot attracted $260,000, more than twice the previous record of $125,000 for a single lot. That’s $4,333 per bottle.

Oter top lots included Schrader Cellars; Shafer Vineyards Hillside Select and ZD Wines for an unusual multi-vintage Cabernet blend aged in multiple barrels much like a sherry solera, all for $100,000.

Next were Robert Mondavi Winery; Cakebread Cellars; a joint lot Bevan Cellars and Chateau Boswell Winery; VHR, Vine Hill Ranch; a joint lot of Constant, David Arthur Vineyards and Reynolds Family Winery; Silver Oak Cellars; Joseph Phelps Vineyards; and Brand Napa Valley.

Total Wines is top bidder
The average lot price was $26,222, and only a few lots went for less than $10,000. The lot prices seem to rise as excitement built, fueled by the long-time auctioneers, frantic Fritz Hatton and business-like Ursula Hermacinski.

The lowest price was about $30 per bottle early in the bidding. The top bidder at the auction was Total Wine & More, which has stores in 15 states. Its members, including Christina Pearce, who raised paddle number 1, spent more than $750,000 on 27 lots.

Mark Pope’s Bounty Hunter wine retailer in Napa spent nearly $500,000 for 13 lots and came in as the second bidder. It bought two of the top ten lots, Schrader, and Joseph Phelps Vineyards.

The other top ten buyers were Cliffewood Wine Syndicate of Little Rock, Ark.; Wine Library of Springfield, N.J.; The Wine House of Los Angeles, Calif.; Gary’s Wine & Marketplace of Madison, N.J.; Nakagawa Wine Company of Tokyo, Japan; Beverage Warehouse of Los Angeles; Yakiniku Hiroshi of Honolulu, Hawaii; Meritage Wine Market of Encinitas, Calif; Zoes Restaurant of Virginia Beach, Va,; and HEB of San Antonio, Texas.

The auction culminated a week of activities for wine buyers and the media. The Napa Valley Vintners also celebrated the tenth anniversary of the Symposium for Professional Wine Writers, a joint activity with the Culinary Institute of American and Meadowood resort in St. Helena.

The vintners also launched its new Sommelier Napa Valley program, reflecting the increasing influence of sommeliers.

The writers symposium attracted top editors and writers as speakers for the attendees, all already professionals already. Among the highlights: Robert Parker, who reminisced on his career and repeated his frustration that many other writers oversimplify his tastes and overstate his influence.

Thursday and Friday, wineries and winery groups including many sub-appellations in Napa Valley hosted more than 50 parties and other events for the trade and media.

Hugh Davies, president and CEO of Schramsberg Vineyards and J.Davies Estate was the chair of the 2014 Premiere Napa Valley Steering Committee.

SHARE »
Close
LATEST READER COMMENTS
 
 
Posted on 04.07.2014 - 14:32:00 PST
 
Thanks for letting us know Janet, we've updated the story. Cheers
 
Andrew Adams
 
 

 
Posted on 04.04.2014 - 11:05:56 PST
 
Nice article. It was a great event! Just noticed a few typos with the vintages:
The two preceding years, 2010 and 2012 [2011], were more challenging, as was evident in a retrospective of the 2009, 2010 and 2010 [2011] Napa Cabernets sponsored by the vintners.
 
Janet Viader
 
 
 
CURRENT NEWS INDEX »


 
Wines & Vines Home
 
866.453.9701 | 415.453.9700 | Fax: 415.453.2517
65 Mitchell Blvd., Ste. A San Rafael, CA 94903
info@winesandvines.com
Wine Industry Metrics
 
Off-Premise Sales » Month   12 Months  
March 2015 $622 million
7%
$7,995 million
5%
March 2014 $582 million $7,588 million
     
Direct-to-Consumer Shipments » Month   12 Months  
March 2015 $252 million
19%
$1,863 million
14%
March 2014 $213 million $1,634 million
     
Winery Job Index » Month   12 Months  
March 2015 356
22%
243
16%
March 2014 292 210
     
 
MORE » Released on 04.15.2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct To Consumer
Wine Shipping Report
2015
 
Download full report »
 
 

Practical Winery & Vineyard Library
 
Search the PWV archive »
 
 

CALENDAR
  • April 17-19
     
    Earth Day Food & Wine Festival
     
  • April 21
     
    Ahead of the Curve
     
  • April 25
     
    Vineyard Mechanization Workshop
     
  • April 25-26
     
    Vineyard to Vintner in Stags Leap
     
  • MORE »
 

READER COMMENTS
 
Article: Is Organic Grape Growing Possible in the East? »
 
FWIW, We make a few wines from a certified Organic vineyard growing cabernet franc, merlot,...
Reader: southoldfc
 
Article: Specialty Tanks Encourage Oak Extraction »
 
According to the manufacturer, the logs are made through compression and not with a binding...
Reader: Andrew Adams
 
Article: Specialty Tanks Encourage Oak Extraction »
 
What is the bonding agent of the Pressed Oak Logs?
Reader: Guest
 
Article: Is Organic Grape Growing Possible in the East? »
 
Some Long Island, NY, vineyard farmers are already using nearly organic methods. They have worked...
Reader: envcat
 
Article: Loosening AVA Regulations »
 
When I see 'Napa Valley'on a wine label, it doesn't only suggest the flavors I...
Reader: Guest
 
 


Directory/Buyer's Guide — Your Wine Industry Marketplace
 
 
WINERY SEARCH
 
 
Advanced Search »
SUPPLIER SEARCH
   by Product
 by Company Name or Brand
 
Browse by Category »
2015 Directory/Buyer's Guide
The Wines & Vines Directory and Buyer's Guide
 
 
EXPANDED ONLINE SEARCH INCLUDED WITH PURCHASE
 
ORDER NOW »
 
LEARN MORE »
 
 
Wines & Vines Magazine
 
 
LEARN MORE »
 
SUBSCRIBE »
 
Digital Edition Now Available!
Wines & Vines Digital Edition Now Available
 
LEARN MORE »
 
ORDER NOW »
 
 
The Wines & Vines Online Marketing System
 
The Industry Standard winery marketing application
 
FREE LIVE DEMO »
 
VIEW VIDEO »
 
 
 
 
Latest Job Listings
 Marketplace Manager
 Kenwood, CA
DTC, Tasting Room and Retai
 Facilities Maintenance
 San Luis Obispo, CA
Cellar, Lab and Production
 Pt Tasting Room Associ...
 Gaston, OR
DTC, Tasting Room and Retai
 Consummate Store Manag...
 Chicago, IL
DTC, Tasting Room and Retai
 Accounting Manager
 Napa, CA
Finance
 Wine Buyer Needed
 New York, NY
Sales and Marketing
 Tasting Room/Guest Rel...
 St. Helena, CA
DTC, Tasting Room and Retai
 Sales Representative O...
 West Sonoma County, CA
Sales and Marketing
 Seasonal Sugar Tester ...
 Lodi, CA
Cellar, Lab and Production
 District Manager Michi...
 Detroit, MI
Sales and Marketing
 
More Job Listings >>
Follow Us On:
 
 





Home  |  About Us  |  Editors  |  Subscribe  |  Print Edition  |  Digital Edition

Advertise  |  Site Map  |  Contact Us  |  Privacy Policy
 
 
Copyright © 2001-2015 by Wine Communications Group, Inc. All Rights Reserved.
No material may be reproduced without written permission of the Publisher.
Wines&Vines does not assume any responsibility for any unsolicited manuscripts or materials.