More and more at the Hospices of Beaune !

Even in his wildest dreams, François Poher, the director of the Hospices de Beaune She probably didn't imagine that with barely 350 barrels of wine, the 2021 sale had the slightest chance of reaching the figures of 2020, when 630 barrels were auctioned. Of course, Ludivine Griveau, the manager of the 60 hectares of the domaine It had worked wonders, "giving it their all" in a 2021 vintage not recommended for the faint of heart. Of course, the Sotheby's effect (which replaced Christie's, present from 2005 to 2020) might have been felt, and of course, such a small number of barrels could, should, and would put upward pressure on prices. Of course, but still… And we came very close to a remarkable achievement, since at €11.7 million (excluding fees), the sale of the 2021 vintage wines fell just over a million short of the previous sale, which totaled a little over €12.7 million.

This sale, in any case, says a great deal about the state of the Burgundy wine market, which is currently in the situation at high risk of a historically weak 2021 harvest, coupled with a global market still eager for Burgundy wines, all with a clear risk of price overheating. Because if the prices at the Hospices de Beaune wine auction... Beaune Prices have skyrocketed, and the same is true everywhere today, from regional appellations to grand cru wines, with frequent increases of 50% and sometimes much more. We haven't finished paying, literally and figuratively, for the damned frost of April 2021.

Find below the press release from the Hospices de Beaune

BEAUNE NOVEMBER 21, 2021 – In the packed hall under the Market Hall of Beaune With 700 people in attendance, the 161st edition of the Hospices de Beaune wine auction took place. Beaune reached a total of €12.6 million including fees (€11.7 million hammer price), well above its estimate of €2.2–7.8 million. All 362 lots found buyers, each above its high estimate. With the addition of the Presidents' Room, which sold for a record €800,000, the total funds raised for the benefit of the Hospices Civils de Beaune and partner associations amount to €13.5 million. The star of the sale was the Presidents' Coin , a charity piece sold to benefit the National Federation of Women's Solidarity, which fights daily against violence against women, and the Curie Institute, as part of their medical research program against breast cancer. This exceptional cuvée of Corton Foxes Grand Cru 2021 – a unique piece – reached €800,000, setting a new record for a charity piece from the Hospices de Beaune , and eclipsing the previous record set in 2020. It was acquired in the room by Mattia Tabacco of Oeno Group, a maison a multi-award-winning wine company based in London, specializing in fine wines.

The two associations were represented by Jeanne Balibar, actress and director, and Pio Marmaï, actor, godmother and godfather of this year's sale, who both took to the podium to further generate excitement for this highly anticipated lot. The auction opened to the sound of Aretha Franklin's "Respect," and during a memorable 15-minute bidding war, the audience applauded wildly to drive up the price. This unique 228-liter charity barrel will be vinified and aged entirely in a specially designed cask, named "Vision," crafted from Burgundy oak by the highly respected François Frères cooperage, located in Saint Romain. All funds raised during the annual sale contribute to the modernization of the equipment and hospital buildings of the Hospices Civils de Beaune The proceeds from this year's sales and future sales will allow the reconstruction of the hospital to be completed. Beaune , to the tune of 70 million euros. The funds will also be used for projects at the Hôtel Dieu museum, delayed by the health crisis.

Three auctioneers took turns throughout the six-hour sale. A total of 50 different 2021 vintage wines were presented en primeur at the auction, comprising 349 barrels and five feuillettes, including 293 barrels and two feuillettes of red wine; 56 barrels and three feuillettes of white wine; as well as six barrels of Marc de Bourgogne and one barrel of Fine de Bourgogne. This year's sale, with 362 lots, achieved an average price per lot of €34,980. In 2020, 638 lots were sold for an average of €21,690, representing an increase of over 60% in the price per lot this year. The average price increase per cuvée was 85% compared to last year, with white wines increasing by 115% and red wines by 56%.

Christophe TUPINIER

Publishing Director