Sotheby’s released a glossy report on their 2017 wine auction year today: the house racked up $63.8 million at 21 auctions in London, New York, and Hong Kong. That was good enough for third on the list of 2017 wine auction houses–in all, the global wine auction market rose 12.7% to $381 million last year (WS had a summary piece back in January).
At Sotheby’s, as elsewhere, Burgundy rose and DRC dominated. Last fall, six bottles of Domaine de la Romanée Conti, Romanée Conti 1996, fetched $134,750, or $22,458 per bottle. Not too shabby for fermented grape juice! In total, $11.6 million worth of DRC sold at Sotheby’s auctions last year, making it the top wine for the fifth year in a row and more this year than Lafite, Pétrus, and Mouton combined (Bordeaux sales declined to less than 50% of total wines sold, by value). Whisky ...
Last night’s state dinner in honor of French President Emmanuel Macron and his wife Brigitte was the first of Donald Trump’s term. Would the current occupant of the White House shatter wine protocols at state dinners? Would the teetotaler whose name adorns a Virginia winery serve his own wine?
The White House has a tradition of serving only American wines at state dinners. This president was not going to put waves in that particular chardonnay glass–MAGA and all that. The menu included a chardonnay and a pinot noir from Oregon’s Willamette Valley, the white from Domaine Serene and the red from Domaine Drouhin. The focus on Oregon is apt since it is an area that has attracted many French winemakers and makes many wines in a Burgundian style. The Drouhin family was the first French family to buy vineyard land in Oregon back in 1987. And perhaps because the White ...
American wine has just gotten a dubious distinction: it features on a list of 128 items that may be subject to new Chinese tariffs. (spelling tip: tariffs ends in “FFS”!)
Saber rattling in trade between the US and China is escalating. The Trump administration announced $50 billion in tariffs on Wednesday and China responded yesterday with a more modest $3 billion. Of course, the two sides could be posturing and may come to an agreement before the tariffs hit the fan.
At any rate, wine featured on the list of items that would be hit with a 15% tariff into China. The US exports $79 million of wine to China, which seems like a drop in the Slavonian oak barrel of world trade. (Pretty small beer…) So even though it might sting in California, it is something of a backhanded compliment to US wine that it is seen as ...
About five years ago, Dustin Wilson became the wine director at Eleven Madison Park and Thomas Pastuszak became the wine director at NoMad. At a similar point in their careers at restaurants in the same group, the two bonded over their many shared interests, one of which was a love of the wines of the Northern Rhone.
Last year, when they were visiting cellars in the region together, they hatched the idea to have a weekend celebration of Northern Rhone wines in New York City. Thus Reboule du Rhone was born with the first weekend of events slated for November 17-19. Pastuszak says that some of the dozen producers invited have never been to New York before. Part of their motivation was to give “the sommelier community a chance to get in front of these heralded producers,” he says.
“We get really excited to serve these wines and drink these ...
The wine country fires caused a lot of damage, that we know. But as the fires come under control and some residents return to their greatly altered lives after mandatory evacuations, we are starting to get a handle on the extent of what happened. Here is a sad list of 22 wineries damaged by the fires in both Sonoma and Napa. And there’s speculation that undocumented immigrant workers, vital to the system of wine making, may not return since they do not qualify for disaster aid and much of the low-cost housing was damaged.
Sadly, there have been reports of price gouging as well as insurance payouts being insufficient to cover some damage. One estimate put the total at $3 – $6 billion.
Clearly, the regions need a lot of help. As wine consumers, the most obvious thing we can do is to buy wine from the affected areas. ...
On Sunday night, a fire got out of control somewhere north of the Bay. Seasonally dry conditions had left the area like a tinderbox. So when whipping winds of up to 70 mph hit the initial flames, they spread, well, like wildfire. Tragically, the blaze has now prompted the evacuation of 20,000 people, burned over 1,500 homes, incinerated 73,000 acres and left 11 people dead.
Santa Rosa in Sonoma has been hit particularly hard. The flames have also jumped to Napa and Mendocino counties.
The NYT has some shocking photos from before and after. SFgate has coverage too–the video with the homes crackling as they burn really pulls on the heart strings. And this video driving down a street after the Tubbs fire is haunting. And these photos…Esther Mobley of the SF Chronicle has been tweeting tons of updates.
The vintage 2017 may be tough in many parts ...
Climate change is a bitch. Severe weather events have roiled wine growing areas with depressing regularity in recent years. Burgundy seems to be on the forefront of this plagued by floods, hail storms, late frosts and other events that have reduced (or in some places even eliminated) the crop.
Jeremy Seysses, owner and winemaker at Domaine Dujac, posted the above photo to instagram along with this description.
Yesterday night, 10th July, brought heartbreak in the form of hail. Of our vineyards, the top of the hill of Morey was hit hardest, Monts Luisants worst, probably 30-40% damage; Clos St Denis and Clos de la Roche next, then Combottes. Bonnes Mares had minor damage. The rest of the domaine seems ok. The leaves like they were put through a shredder. The fruit is pummeled. The shoots battered. We’ll still make some wine, though!
The Golden State Warriors won their second NBA title in three seasons last night. As a hoops fan, the most impressive stat for me was 147 assists on 216 made baskets–teamwork! But as a wine geek, we here at the Dr. Vino World Headquarters had to wonder…what would the team pop to celebrate in the locker room?
Would the owners cheap out as so many MLB owners do and use bubbly that could be picked up at any 7-11 on the way to the stadium?
We asked a Russian to hack the feed from the locker room to see what they sprayed. (Okay, our source was actually ESPN’s Darren Rovell.) This Warriors team did not hold back! To celebrate this title the doused each other with magnums (natch) of Moët Impérial “Golden Luminous”–a limited edition of the Moet nonvintage that Rovell says are valued at $1,200 each. (Search ...
Wine drip stains on white tablecloths have a new nemesis and his name is Daniel Perlman. The biophysicist at Brandeis University discovered that all it took to eliminate the bane of (red) wine pourers everywhere is to etch a small groove at the top of the bottle under the lip. We can but hope this catches on widely.
Professor Perlman studied slo-mo videos of wine being poured from a bottle. He found that drips cling to side of a bottle because bottles are hydrophilic! Now if that sounds more than PG-13, don’t worry: it just means that the glass of the bottle attracts the drops of water (or wine) that then annoyingly cling to the side and make a big mess. He found that cutting a 2mm groove in the bottle with a diamond-studded cutting tool just below the lip was sufficient to break up the attachment issues between the ...
The French presidential election is heating up. Polls show Emmanuel Macron defeating Marine Le Pen in the decisive second round on May 7 by 62-38 (yes, polls have been deceiving ahead of recent elections but this is a big margin).
We are single-issue voters around here and that issue is wine! Actually, that’s not true but we will roll with it. Recent French presidents have hovered at or near zero when it comes to passion for wine. Jacques Chirac’s tipple of choice was reportedly Corona. Nicolas Sarkozy famously didn’t even like wine. Current president Francois Hollande sell off a chunk of the presidential wine cellar–but he also canceled a lunch with the Iranian president after the guest insisted no wine be served.
Macron, a former minister of Finance who is a mere 39 years old, exhibits some wine savvy. Although he was raised in Picardy, not a region known for ...
How about some wine classes to shake off the winter blues (wait, what winter? It’s 70 degrees!)?
I’ve been doing a series of wine classes at Schoolhouse at Cannondale, a new American restaurant in Wilton, CT. Chef/owner Tim LaBant–friend of the blog–has been running some cooking classes and I’ve been doing some wine classes on select Tuesdays. Two of my classes are in the bag but two more are coming up in the next two weeks. On 2/28, we’ve got Pinot Envy in which we will taste and talk through seven pinot noirs. And on 3/7, we will Drink Like a Hipster with tasting and discussing seven natural wines. It will be fun!
Reservations required. Timing is 7:00 – 8:30. Tickets are $75. Please email Francesca firstname.lastname@example.org for reservations.
The post Wine class at Schoolhouse appeared first on Dr Vino's wine blog.
Economic policy has about as much clarity as a tank of Puligny after batonnage right now. There’s some reasonable certainty about various reforms (ahem, tax cuts) but one area that is shrouded in mystery: how imports will be taxed.
Trump made trade a big issue in the campaign and has continued in the same vein, doing industrial policy via Twitter since the election. Some policy wonks think that a huge change in the tax on imports may be forthcoming. A House bill from last year sought to impose punitive tariffs on imports to shame big box retailers such as Walmart, Home Depot and Target in their purchases from abroad.
Neil Irwin, writing in Sunday’s NYT sums up a relevant part of the destination-cased cash flow system:
A company that spent $80 making something that it sold overseas for $100 would pay no tax on its earnings. A company that imported ...
Apparently there’s a real rivalry among airlines for first class wine service–although you’d never guess it in the back of the bus where the wine selections are generally bad enough to drive a wine to beer.
A piece in Bloomberg details how Emirates has splashed out over $40 million a year on wine for the last twelve years. No comparative metric is given in the story (how much do other leading airlines spend on wine?) but it sounds like a big number to me.
(On a side note, there is something incongruent that Emirates spends such a sum on alcohol given that one of the five pillars of Islam is not to drink alcohol.)
Joost Heymeijer, who runs in-flight catering at the airline, details their buying strategy, which, interestingly, involves buying and then storing wines in a “Fort Knox-style” facility in Burgundy: The Emirates stash currently has almost ...
“Winery X, in family for generations, sold to billionaire” is a headline that would normally barely raise an eyebrow. But the winery in today’s news is Clos Rougeard from the Loire.
Located in Saumur, Clos Rougeard is the Bentley of the Loire. The wines, almost all red, are expensive, rare and of exceptional quality–the kind of wines that can turn haters of cabernet franc into ambassadors. (search for Clos Rougeard at retail)
The 27-acre estate was owned by the Foucault brothers Bernard (a.k.a. Nady) and Jean-Louis (known as Charly). They were the eighth generation to run the estate and made it a pioneer of organic viticulture in the area as well as hands-off winemaking.
After Charly’s death in 2015, La Revue de Vin de France reports, the family resolved to sell the domaine. The buyer is Martin Bouygues, French telecom billionaire and 481st richest person ...
Sour Grapes recently went live on Netflix. Has Netflix recommended it to you yet? If not, you’re clearly not watching the right shows!
After speaking with one of the directors and seeing the trailer, I was ready to fire up the documentary when I saw it was available.
Sour Grapes tells the story of Rudy Kurniawan, the convicted (spoiler alert!) wine counterfeiter. We in the wine world know the story of how he came from nowhere in the early 2000s, ingratiated himself with some of the biggest collectors in the land, poured tens of millions of dollars into fine wine at auction, and then reversed and sold tens of millions of dollars of wine wine, including many fakes passed off as the world’s top wines.
But what is particularly compelling here is a trove of video of Kurniawan in action. Not only does he actually speak as opposed to ...
Coravin, the company formerly known as Wine Mosquito, has raised another $22 million in private equity funding. That brings the total equity sold to $40 million (plus another $3 million in debt). The lead investor of this round, closed on November 8, was not publicly disclosed. Neither were company revenues. Nor was the valuation.
The privately held company, based in Burlington, MA, sells a wine preservation/extraction device that uses a hollow needle to penetrate the cork of a wine bottle not unlike a mosquito if Bacchus designed mosquitoes. Over about 30 seconds, it injects argon gas to pressurize the bottle and then extracts a glass of wine without removing the cork. The device lists for about $300 retail and replacement argon canisters list at $18 a pair. That’s enough argon for about 30 glasses of wine.
While this price is low for restaurants compared to many by-the-glass systems, it does ...
Daniel Johnnes may be the closest thing the American wine world has to Burgundy royalty. Yesterday, he announced that he has joined Grand Cru Selections, an importer and wholesaler based in New York City, as a partner. It’s a big move.
Johnnes, 60, helped pique America’s interest in Burgundy wines When he was a sommelier at the erstwhile restaurant Montrachet in the early 1990s, he hosted winemaker dinners with the likes of Christophe Roumier and Dominique Lafon that encouraged American collectors to add Burgundy to their cellars. In 2000, he tapped his connections in Burgundy to hold the first “La Paulée de New York.” This bacchanal now alternates annually between NYC and SF and is marked in red on the calendar of collectors. It also functions as a sort of “Burgundy university” for the sommeliers who work the event. Johnnes imports a number of wines including Roumier and Lafon ...
Sour Grapes, a new documentary about wine fraud, is being released on Netflix next month.
The movie centers on the case of convicted wine counterfeiter Rudy Kurniawan. In fact, the film’s two directors, Jerry Rothwell and Reuben Atlas, met at Kurniawan’s trial in Manhattan where they had ventured separately, each with an eye to making a documentary. In a phone interview, Rothwell said they quickly decided to join forces after speaking with witnesses who had testified in the trial.
One of those was Laurent Ponsot who welcomed them and the camera crew to his Burgundy domaine. Rothwell says that the film “a bit like a detective story.” Ponsot is positioned in the film as one of the detectives, trying to solve the mystery of fake bottles and the perona of Rudy Kurniawan. Others include the investigative team of Bill Koch as well as Maureen Downey and Don Cornwell.
Charles Banks, a former owner of Screaming Eagle whose current wine and hospitality holdings have been pegged at $200 million, was indicted in federal court today on two counts of fraud. Banks is accused of defrauding Tim Duncan, the NBA legend, of $20 million in investments.
Yahoo sports has the story:
The indictment was unsealed Friday in a San Antonio courtroom, where Banks surrendered himself and was led into the courtroom in handcuffs. Banks surrendered his passport and a $1 million bond was issued for his release pending trial. He is facing a potential maximum sentence of 25 years in federal detainment.
The FBI has been investigating Banks, 48, for a year.
Banks has amassed a global portfolio of wines under his Terroir Capital that includes Mayacamas of Napa Valley, Qupé of Santa Barbara and Wind Gap of Sonoma. The company was a founding partner in Sandhi, though that ...
Vietti, the Barolo winery founded in 1893 and known for its single-vineyard wines, has been sold to the American Kyle J. Krause. According to Wine Spectator, the sale includes the winery in Barolo’s Castiglione Falleto, the brand and 84 acres of vineyards. Luca Currado, enologist and current head of the winery, will be staying on as CEO. The parties did not reveal the price paid.
The story is a curious since top vineyards in Barolo generally get sold to…people in Barolo. Perhaps the increased interest in the wines of Barolo is driving international investor interest in seeking real estate plays or trophy wineries. In any event, the recent dollar strength certainly helps American buyers. And the prices they are willing to pay are now high enough to pry the keys to the cellar out of the hands of some locals. Either way, Vietti seemed to really be on a roll ...