The Hospices de Nuits-Saint-Georges wine auction, which was held at the Clos de Vougeot on Sunday (10 March), showed the rising reputation of the sale, and demand for high quality of the wine, however the overall results showed that the market has definitely cooled. For the last few years, the lesser known Hospices auction – an older foundation than the better known Hospices de Beaune, but one that has been something of a ‘hidden gem’ – has steadily risen in terms of quality and reputation. Last year’s auction saw a record-breaking €3.6m, however this auction this year – the 63rd edition of the historic foundation – saw a 36% decline on last year’s figure, reaching a total of €2,281,500 (£1.94m). It seems to be something of a paradox – despite the lower totals, the result was still the second-largest total in the auction’s 63-year history, and broke two records, achieving the highest price for its star barrels. The charity pièce Cuvée des Bienfaiteurs, featuring a blend of the estate’s nine premier crus, for example, sold for a record €68,330 (up from €67,430 in 2023) while the Cuvée Hugues Perdrizet drew a record bid of €60,000 from one of the auction’s biggest bidders, Maison Albert Bichot, exceeding last year’s €40,000 by a wide margin. This cuvée, which debuted last year, was made from a selection of the oldest vines on the estate and named in honour of the first donor to the Hospices de Nuits estate. Overall, the red wines sold for an average
This Article was originally published on The Drink Business - Fine Wine
