Vintage Port’s standing as one of the world’s great classic wines was confirmed and strengthened at Christie’s Fine Wine Auction held in London on October 23rd, 2014. The majority of the Vintage Port lots submitted for auction achieved prices above Christie’s High Estimate price markers, reflecting the great interest generated by some very rare lots of wine that attracted high bids.
The auction revealed Vintage Port’s relevance in today’s market for fine wines with bidders willing to pay final hammer prices, which in many cases were well above the High Estimate price. An apt example of this was provided by an auction lot of 6 bottles of Graham’s legendary 1945 which went for £6,500, well above Christie’s indicated High Estimate of £4,800 and also — very significantly — 30% more than an identical lot of Graham’s ’45 that was auctioned at a Christie’s Fine Wine Sale two years ago in Amsterdam. A reminder if one were needed that the 1945 Vintage Port, one of the twentieth century’s finest, is now extremely rare.
The Graham’s 1963 also achieved a magnificent result with an auction lot of 6 bottles going for £1,800, again well above Christie’s High Estimate indication of £1,100 (or 64% more than the High Estimate marker).
Graham’s Johnny Symington who attended the auction was very pleased with the outstanding performance of Graham’s Vintage Ports, not just with regard to the older wines but also more recent Vintages such as the 2011 (Graham’s The Stone Terraces Vintage Port) and the 2000. Johnny and his cousin Clare were invited to host a pre-sale dinner at Christie’s attended by Christie’s guests on the night before, and this proved an equally successful event, which paved the way for the auction itself.
Edwin Vos, Christie’s International Senior Wine Specialist, wrote to Johnny the day after the auction: “I guess we have shown that vintage port is very much alive. The interest the Symington wines received from our dinner guests and during the sale was encouraging.”