Mark Aselstine
 
May 24, 2011 | Mark Aselstine

Premiere Napa Valley

Premiere Napa Valley

Every year the Napa Valley Vintners Association holds Premiere Napa Valley, a live auction event where various lots of wine are sold with the proceeds going to charity. This is hardly your high school’s gala though, as $2.4 million was raised this year in what amounts to the highest ever take for the event.

Many people consider the day of barrel sampling and then bidding to be the best barometer of fine wine sales during the upcoming year. Many of the wines on display are already sold out, meaning for a retailer to find an allocation there is no other choice than to bid at the auction.

While we don’t necessarily agree that this is a great barometer for fine wine sales as a 5 case offering from Scarecrow wine netted a $125,000 donation from a Tokyo based wine distributor (over 2k per bottle) we are comfortable in saying, increasing prices at auction is a healthy sign for an industry which has had difficult times during the past two years.

Taking a little something from the official press release, we do think it’s informative to see which wines are garnering the highest bids: “Rounding out the top ten highest earning lots of the day include Schrader Cellars, Ovid, first-time Premiere-participating winery, Levy and McClellan, Shafer Vineyards, Robert Mondavi Winery, Reynolds Family Winery, Duckhorn Vineyards, Silver Oak Cellars and Beringer Vineyards”

I think you can agree that the list of highest earning wineries shows an industry both in touch with its past (Mondavi and Beringer) as well as with upcoming names in Reynolds Family and Ovid.

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