Earlier this month I mentioned that the returns on the Naples Wine Auction were up by around $3 million. More good news in the wine auction world comes from Napa where the Premiere Napa Valley results were up by one third over last year. The 14th annual Premiere Napa Valley auction brought in a total of $1.918 million which was 30 percent more than the previous year. The 2009 auction brought in $1.485 million which was far down from 2008's record-setting total of $2.2455 million.
The 200-lot event took place last weekend and saw a more positive tone than last year's event with bidders snapping up cases of the 2008 Cabernet Sauvignon. Five cases of Shafer went to Winebid.com for $37,000. Another five case allotment from Ovid went to Capitol Cellars for $33,000 and Lewis Cellars sold five cases to Nakagawa Trading Company of Japan for $30,000. Nakagawa Trading for the second-to-the-top bidder spending $179,000 total on wines. Top honors went to Gary Fisch of Gary's Wine in New Jersey who spent $392,000 on 275 cases.