Slow auction at Nederburg
2007-10-04
THE atmosphere was bubbly on the lawns in front of Nederburg’s historic manor house on Saturday, but in the auction hall the income at the prestigious Nederburg Auction at Paarl was nearly R2 million down on last year.
With 17 percent less wine on auction and 16 fewer participants, the overall income totalled R5,13 million compared with last year’s R6,96 million.
Auction organisers attributed the lower average price of R1 411 per nine-litre case - down 11 percent on last year - to the competitive trading conditions in the South African wine market.
The number of participants is determined by a strict selective process which also determines the quantity of wines available.
Foreign buyers upped their purchases to 24 percent from last year’s 16 percent, with Vina Vita from Russia, the top overseas buyer in fourth overall position, taking a healthy 6,5 percent (238 cases).
For the first time in the history of the auction, a restaurant chain has taken the top spot, with the Cape Town Fish Market buying wine worth R654 220 (884 cases) - representing more than 12 percent of total sales, followed by four retail groups.
The new record price for the case of rare Monis Collectors Port Stamp Collection 1948 was R20 000 - at R3 333 per bottle, the highest price ever paid for a port at the auction. The average price of port per nine-litre case was R1 726.
The charity sale on the day raised R386 500 for the beneficiaries, the Hospice Palliative Care Association of South Africa, Mothers2Mothers, and the Organ Donor Foundation of South Africa.
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