For The Love Of Port

The recent Acker Merrill auction had some nice Madeira lots up for sale. There were two 1795 Terrantez bottlings that went for $5445 each (includes the buyers premium).

Ok, who bought these?... c'mon Daniel, I know it was you!

I've missed the boat on Madeira deals. My local B&M said they were practically giving away Madeira 5 years ago.

I don't want to miss out on Sherry.

Reidar

Marco D. wrote:The recent Acker Merrill auction had some nice Madeira lots up for sale. There were two 1795 Terrantez bottlings that went for $5445 each (includes the buyers premium).

Ok, who bought these?... c'mon Daniel, I know it was you!

That is insane...
Especially when you consider some other good Madeiras still out there. You could get 3 bottles Quinta do Serrado 1827 Bual for that. Or 10 bottles Barbeitos 1834 Malvasia. Or...
Sometimes I wonder if we are doing ourselves a favor by promoting Madeira wine :?

Peter

Peter Reutter wrote:Sometimes I wonder if we are doing ourselves a favor by promoting Madeira wine :?

This forum has little effect on the Madeira market as people reading this already have a clue. The average wine drinker will never read this site.

Yes, Moses, you are right :idea:

1795 T has more than tripled in 5-7 years.......

But Peter, the 1830 Serrado's cost now $ 1.195 at RWC. I bought 1827/1830 Serrado's there 5-6 years ago for $ 425 of $ 450 each also at RWC .....

Just over a year ago our 'group' bid at auction on over 50 lots of madeira. Typically we're successful on around 30% of bids. In that auction we got ZERO (and were second highest bid on only 2 lots). That alerted me to changes in the marketplace, and I grabbed some of the RWC older madeiras.
I was subsequently told by someone in the trade (sorry, can't reveal who) that "new money" had entered the madeira market.
I speculate (but on no real knowledge) that it was 'marquee' restaurants. However, I am also aware that a 'computer company top dog' (again can't reveal as sworn to secrecy) had bought and served the 1795 and flown over a principal from Portugal to lead the tasting.
My call is that currently ALL of the 100 yr+ madeiras have multiplied in price. Certainly the 1907's have jumped recently (not surprising), although a recent 1911 purchase was 'reasonable'.
As the saying goes "They're not making them any more". Given the small supply and a few moneyed purchasers, of course prices would rise.
But let's hope that the 'new money' will soon move on to other interests. Smaller auction houses are seeing prices moderate - for example, two bottles of 1911 Blandy's Bual failed to sell last month with a $6-800 estimate.
And of course, the 1827 and 1830 Serrado's sold for under $200 on original auction release and temporarily dipped in the secondary market - I 'accidentally' (long story - the auction house misunderstood my bid) acquired several lots at $120 per bottle - even served it to the guests at my wedding!

Very early when this Forum was started, I mentioned about pricing taking a serious uptick. Bartholomew Broadbent came in and Reidar had little belief of what he said was true. Anyway, it is clear that Madeira prices keep rising.

I don't think it was just five years ago that prices really changed. I have been a Madeira buyer a lot longer than that and have seen prices escalate since before the turn of the century. Of course, as the bottles continue to grow in scarcity and are depleted in numbers, the prices are going to naturally go higher.

I know collectors with insane amounts of Madeira. Three that I can think of with over 100 cases apiece, in fact. So although new money might come into play, old money is where most of the bottles are actually cellared today.

I just wish I were one of those three collectors!

I work in the wine auction world (don't think less of me) Some of the prices you are seeing on Madeira are going to be very sad! The only thing I can thing of whats going on right now is the same thing thats going on with rare wines and champagne. There are a few people pumping up and buying a lot of the rare wines in order to increase the value of certain things.

The buyers prem with acker is at 21%, thats an extra $1143.45 on top of the hammer.

If the auction is having a special auction or making a huge deal out of it like a single cellar or famous person selling wines, this will increase the demand of the wines. Be careful about those auctions. A lot of the times you will find that Ports and Madeira might go a lot higher due to the fact that they are rare but if you look in the past year for Madeira and Port, it has gone up about 10% but not 50%. This is a bit out there. Be careful and bid only what you think is right.

I work in the wine auction world (don't think less of me)

Actually, your career experience can enlighten many of us here.

Welcome to the FTLOP, Santo!

Roy

Just saw that Antique Wine Company charges $ 5.100 ex. VAT, that is $ 5.992 for a bottle of 1802 Terrantez Oscar Acciaioly.

Looked through my receipts and found one from Nov. 2001 when I bought it for $ 750 from Fine Wines International in Calfornia.

In Dec. 2002 I got three more of the same direct from a collector in Denmark for $ 1.800 . That is $ 600 each.

The same shop charges £ 3.500 ex. VAT for a Borges Family Reserve 1720 Pather. That is $4.112 incl. VAT = about $ 8.500.

Same bottle I bought from Patrick Grubb 4-5 years ago for £ 1.000 .

I presume he also may own these wines for sale at Antique Wine Company. :idea:

Roy Hersh wrote:

I work in the wine auction world (don't think less of me)

Actually, your career experience can enlighten many of us here.

Welcome to the FTLOP, Santo!

Roy

Thanks Roy.

santo