The UK’s oldest fine wine and spirits merchant announced that it was expanding into the online wine auction business last month.
Berry Bros & Rudd secured a prestigious private collection from renowned barrister Ian Mill KC for its first foray into this market.
The inaugural auction has now concluded, and it achieved a 100% sell through rate, with bids from more than 40 different countries. There were 575 lots in the auction, and they sold for a combined total of £534,925.
Geordie Willis, director of new ventures for BB&R, said: ‘We knew that offering such an esteemed collection of wines for the launch of our auction business would be exciting, but we are delighted with the response from customers new and old from all over the world. We have already received interest in our next auction, to be held next year.’
The merchant created a new platform to run the auction, working with software supplier iRostrum, and it all ran smoothly.
Ian Mill KC added: “I too am delighted by this outcome, which fully justifies both BB&R’s decision to enter the wine auction world and my decision to entrust to them the sale of part of my collection.
‘Their professionalism, enthusiasm and level of commitment throughout have been impressive and bode well for the future of this venture.’
In total, 27% of the lots sold at or above their high estimate, and the average hammer price was more than 120% above the reserve.
The first 115 lots were dedicated to vintage Champagne. They fetched a combined £97,125, which is an average of £844.57 per lot. Single bottles of Dom Pérignon Oenothèque from 1964 and 1969 each sold for £2,200.
Bordeaux was next, and 24 lots sold for a combined £23,320, including £2,000 for a bottle of 1989 Château Haut-Brion Blanc.
There were 136 lots of red wines from Burgundy, which sold for a combined £199,420. The highlight was a magnum of 1969 Clos de la Roche from Domaine Ponsot, which sold for £7,500, three times above the high estimate of £2,500.
Meanwhile, a bottle of 1996 Musigny Grand Cru from Domaine Georges Roumier fetched £7,000, which was the low estimate. A 2001 Musigny Grand Cru from Domaine Georges Roumier sold for £5,500, which was also the low estimate.
There were 252 lots of white Burgundy, which sold for a total of £174,470. The most valuable lot featured six bottles of 1999 Meursault from Domaine Coche-Dury. That lot achieved a sale price of £4,200, which was £200 above the lower estimate.
A bottle of 1982 Montrachet Grand Cru from Domaine Ramonet sold for £3,250, which was £350 short of the low estimate. Meanwhile, a bottle of 1997 Meursault Les Narvaux from Domaine d’Auvenay fetched £400 less than the low estimate by selling for £3,000.
While some of the pricier lots did not quite live up to expectations, many of the smaller lots handily beat their estimates.
The remaining 41 wine lots covered the Rhône, Alsace and California, selling for a total of £35,720. Twelve of those lots featured wines from celebrated producer Ridge, and they all sold for the high estimate or exceeded the high estimate, some by a wide margin.
Finally, six lots featuring Scotch whisky or cognac sold for £4,870, including £1,700 for a bottle of Macallan 25.
