New York-based Wally’s Wine Auction’s recently released the results of its two-part Roy Welland Collection auction, which took place at the auction house’s New York location and Los Angeles location this past September and November, respectively.
“Over 350 bidders got down to business and clamored for … the incredible Roy Welland Collection, resulting in the largest wine auction from a Los Angeles company in history,” a Wally’s press release stated.
According to Wally’s, 97.7 percent of the 1,633 lots sold in the Los Angeles auction. The auction’s actual sales of $5.5 million exceeded pre-acution estimates of $3.6 million. The auction was the second leg of the sale of the Roy Welland Collection. This first phase of the auction this past September garnered $6.6 million, also exceeding its pre-auction. In total, the two auctions brought in $12.1 million.
The most recent auction featured a list of lots whose sale price exceeded previous world records.
“Vosne Romanee heavyweights Domaine de la Romanee Conti and Domaine du Comte Liger Belair showed off their star power … with jaw-dropping prices on the deep offerings, especially the banner 2002 and 2005 vintages,” Wally’s said in the auction’s press release.
Welland’s double offering of La Tache Domaine de la Romanee Conti 2002 sold for $7,200, smashing the high pre-auction estimate of $5,500. A magnum of La Tache Domaine de La Romanee Conti 2002 sold for a record $5,280, hurdling its pre-sale high estimate by more than $2,000. A lot of one dozen bottles of Comte Liger Belair 2005 fetched $44,000, exceeding its high estimate of $36,000.
Domaine Armand Rousseau whipped up interest as well, Wally’s said.
“Domaine Armand Rousseau dazzled the eager auction room and online bidders with a section of seventy-two lots estimated at $283,240 – 421,480 achieving a total of $517,200. A bottle of Chambertin Domaine Armand Rousseau 1990 sold for $2,600, while a dozen bottles of Chambertin Clos de Beze Domaine Armand Rousseau 2005 brought in $26,400.
According to Wally’s, sales of the Roy Welland Collection will continue via a retail offering at the company’s Los Angeles location. More wines will also be available at the company’s December auction in New York.
Welland is a well known wine connoisseur and former owner of the now-closed New York restaurant Cru, whose fabled wine offerings were a wine lover’s mecca, New York Magazine’s Adam Platt wrote.
“Like the arctic tern, say, or the albatross, (serious wine geeks) engage in long, solitary journeys during the course of the year, searching for this vintage or that, but whenever they gather in groups, they like to strut a little and show their plumage,” Platt wrote. “Lately, the wine geeks have been gathering on lower Fifth Avenue, at a fine new restaurant called Cru.”
In the auction catalog, Welland expressed his sorrow about parting with his collection.
“I am saddened to see this collection go. Building it was a labor of love and I poured myself into it,” Welland wrote. “Wine is meant to be shared and enjoyed and it is comforting to know that others will now be able to appreciate these great bottles.”
Credit: Snooth – Articles