NEWS
AN ASIAN BUYER BOUGHT 2013 DOMAINE LEROY MUSIGNY AT RECORD PRICE
By Susna Lewis
16-6-2021
Source: Domaine Leroy
Fine wine investment company Cult Wines announced a record-breaking sale of 2013 Domaine Leroy Musigny, an acclaimed Grand Cru Burgundy, to a customer in Asia.
The 3-bottle case achieved a record price of USD142,000, approximately USD47,333 per bottle, representing a 123 percent increase on the current average auction price and higher than any price previously set at auction.
“We’re seeing an insatiable demand across Asia at the upper end of the Burgundy market,” noted Joe Alim, Director of Greater China for Cult Wines. “This is particularly true for producers like Domaine Leroy and Domaine de la Romanée-Conti, where competition is fierce for the rarest, most prized Grand Crus, which are inherently in short supply. We expect this demand to continue at pace and will continue to see an upward trend in prices.”
Cult Wines facilitated the sale of the highly regarded wine on behalf of a private collector onto a customer in Asia. The sale demonstrates the strength of the market and unwavering demand for Burgundy Grand Crus.
“At Cult Wines we are well positioned to compete at the top end of the market and meet global demand for premium and high demand Burgundies,” said Tom Gearing, CEO & Co-Founder of Cult Wines.
“Over the last two decades we’ve cultivated relationships within the region, providing clients with access to highly allocated wines. Our global reach has also allowed us to sell through client wines at the most advantageous prices.”
Burgundian wines are the ultimate representation of supply and demand imbalance in fine wines. Among the rarest wines in the world, Domaine Leroy produced only 618 bottles of Musigny in the 2013 vintage.
According to Wine-Searcher.com, Domaine Leroy Musigny is one of the world’s most expensive wine, price having increased 377 percent in five years from an average bottle price of USD5,608 to the current average bottle price of USD26,776.
(the writer can be contacted at: info@thewinechronicle.com)
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