South Africa's Nederburg Auction tops R7 million with record breaking sales

By Richard Siddle

Published: 15 September, 2014

This weekend's 40^th Nederbuerg Auction in South Africa achieved a record breaking average price per litre of wine sold.

The auction saw a record average price per litre of R597.36, a 68.5% increase on 2013.

Overall the auction helped raise just over R7 million.

The event saw such demand for the prized wines that bidders were willing to pay a premium of 215.2% on the 2014 reserve price, compared to 91.7% on the 2013 reserve price.

Of the record breaking price per litre, Dalene Steyn, the auction manager , said: "This is indicative of strong demand for premium South African wine, underpinned by a record average price per litre achieved and no unsold lots."

He added: "South African wine has long been undervalued and this year's edition proved to be a correction of this trend. This also recognises the exceptional quality of the wines on offer."

As well as the record price per litre, the auction also record prices achieved for a Chenin Blanc and Noble Late Harvest wine.

The latter achieved R6,444 for 12 x 375ml bottles of Nederburg Edelkeur 1979.

Tsogo Sun was the top buyer, spending R 723 900, followed by Juric Imports & Exports and the Spar Group. Singita, last year's top buyer, was in at fourth place.

Richard Rushton, managing director of Disell, the group behind the Nederburg event, said the auction, one again, showcased the very best of South African wines.

"The final wines that go on auction are chosen by an expert panel of local and international wine judges who taste blindly with independently audited results. So we think it really does showcase our very finest as an industry."

The auction also included a charity sale, with winemaker Ken Forrester taking up the auctioneer's mantle, which raised R209, 000 for Hope Through Action and the Breytenbach Centre. The sale included 12 x 750ml bottles of Nederburg Vintage Cabernet 1975 which sold for R47,500 and the Van Ryn's Charentaise Collection of 10-year-old potstill brandy which raised R25,000.

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