Satellite wine auction fetches higher than expected prices

RAY SMUTS AS THE countdown starts to the annual Nederburg Auction at Paarl on April 9, winemakers are heartened by the high prices fetched for a selection of South African wines knocked down via satellite in Canada, one of this country’s prime export markets. At a preview of the Nederburg Auction in Vancouver last month, prices for the 45 lots that went under the hammer all exceeded market-related opening bids. The top price realised was for a case of 12x375ml bottles of 2003 Nederburg Edelkeur that went for Can $1 500 (R7 655) or Can$125 (almost R637 a bottle). The total of 488 bottles sold on the auction fetched Can$21 000 (almost R107 191) and included a number of other Nederburg wines as well as those from other internationally acclaimed producers. The satellite auction was a first in Nederburg’s 3l-year auction history and the eagerly anticipated April 9 event will feature many of the Vancouver participants. The strong rand and fierce competition notwithstanding, wine volumes exported to Canada grew 40% last year on 2003. So thrilled are producers by the results from the Vancouver auction they are already asking for a repeat next year.