Another flurry of records at the Hospices de Beaune !

Alberic Bichot , the first buyer in the sale, speaks on behalf of the Burgundy wine merchants and breeders who purchased the charity lot for the sum of 810,000 euros.

“I feel joy, amazement, and pride,” declared Ludivine Griveau-Gemma, the auction house manager, at the end of the sale last night. domaine of the Hospices of Beaune And she can indeed legitimately be joyful and proud, given that it is clear the quality of her work played a significant role in the incredible, the "astonishing" result of this 162nd Hospices de Beaune wine auction. Beaune "Stupefaction," "incredible," "unreal" were words that kept coming up in conversations with buyers, fellow journalists, and observers encountered yesterday afternoon under the market halls of Beaune where all records were broken. The total proceeds from the sale of the 802 barrels of wine amounted to €31.25 million (including Sotheby's fees, approximately €29 million excluding fees), compared to just under €14 million in 2018 for 843 barrels. While, given the results recorded in recent years, and particularly in 2021 with 350 barrels of wine (nearly €12 million), one could have expected this figure to be exceeded, no one thought that the average price of the 228-liter barrel would increase to this extent, since, according to the press release received this morning from the Hospices themselves: "The average price including fees per barrel, for both reds and whites, including the President's barrel and spirits, amounts to €39,155, representing a 12% increase compared to 2021." The average price excluding fees for red and white wines is up 8.28% compared to last year (€35,974 in 2022, €33,223 in 2021).

300,000 euros for a piece of Bâtard -Montrachet
And let's clarify that the increase is almost universal; while the grand cru wines have often caused a stir, as illustrated by these five pieces of Bâtard -Montrachet grand cru blanc acquired at 300,000 euros each by the Lucien Le Moine and houses Bichot (for Chinese customers regarding Bichot ), the prices of many less prestigious vintages have also often increased. Finally, regarding the records, the charity lot sold for €810,000, compared to €800,000 (the previous record) in 2021, largely thanks to the two co-chairs, Flavie Flament, journalist and writer, and the actor Benoit Magimel, who didn't hesitate to come down into the room to encourage bidders one after another; it was acquired by several wine merchants who had joined forces for the occasion. Bichot Latour, Drouhin , Jadot Bouchard Père et Fils, Badet-Clément, Faiveley , Boisset Patriarch, Song, Champy, and Widow Ambal. Narrated by Alberic Bichot One of his close friends, the Burgundy wine merchants paid tribute to Louis-Fabrice Latour, who recently passed away. Frédéric Drouhin Personally affected by a family tragedy and the loss of his daughter, he also spoke to emphasize the importance of supporting organizations working for children. The sum of 810,000 euros will be donated to the organizations "Vision du Monde" and "Princesse Margot."

1,750,000 hectoliters in 2022
We can now ask ourselves once again whether these results reflect the state of the (flourishing) market for fine Burgundy wines. The sale of Hospices de Beaune is undoubtedly a distorted reflection of this market, but to claim that it is completely disconnected from it would seem quite excessive. In 2021, a year of frost and a small harvest (less than 1 million hectoliters), wine merchants, large and small, rushed to buy the limited available volumes, resulting in a surge in bulk wine prices, often doubling or even more, from regional appellations to grand crus. The 2022 vintage presents a very different picture, with an abundant harvest (1,750,000 hectoliters), winemakers who do not seem inclined to lower their bulk wine prices, and merchants who are currently very cautious. Under these conditions, the rise in prices for Hospices de Beaune wines is understandable. Beaune Will it set the pace for market developments in the weeks and months to come? Nothing seems impossible in Burgundy these days…

Christophe TUPINIER

Publishing Director