The sale of wines from the Hospices de Beaune, a high point of luxury and charity, remained far from records on Sunday, due to a reduced number of lots and despite the presence of four stars, including Eva Longoria and Jean Reno.
The star lot of these auctions, the oldest of their kind in the world, was sold for “only” 360,000 euros, plus an additional donation of 100,000 euros, despite the harangues of the stars called to the rescue to boost the sale.
“Make good bids. What you buy today represents lives saved,” said Briton Dominic West, known for his role as Charles III in the series “The Crown”.
“Help us to help others. Thank you very much,” added Frenchman Jean Reno.
The lot was a barrel of Beaune Premier Cru sold for the benefit of two associations: Médecins sans frontières (MSF), represented at the sale by Dominic West and Zabout Breitman, and the Spanish NGO Global Gift Foundation (GGF), which helps to vulnerable children and whose sales ambassadors were Jean Reno and Eva Longoria.
– Far from the record –
The price obtained is very far from the record of 810,000 euros obtained in 2022 for this type of “charity coin”, a 228 liter barrel (i.e. 288 75 cl bottles) reserved for a charity other than the four public hospitals and five Nursing homes managed by the Hospices de Beaune.
But the auction still exceeds that of 2023 (350,000 euros).
The other barrels offered for sale, intended for the main work of the Hospices, did not panic the sales of some 800 bidders gathered in the “capital” of Burgundy wines, Beaune (Côte-d' Gold).
The sale is in any case limited by the limited number of lots. Only 445 pieces must go under the hammer, plus three leaflets (half-barrels), the second lowest number of lots in the history of the sale.
The fault lies with capricious weather which cut the harvest “by half compared to the usual”, underlines to AFP Ludivine Griveau, manager of the Hospices wine estate.
“This is the fourth wettest vintage since 1959, with +87% for Burgundy,” she explains.
The sale “will therefore not break the record” for total revenue for 2022 (29 million euros), recognizes Albéric Bichot, boss of the house of the same name and first buyer at the Beaune auction.
Total revenue should even remain below the 2023 figure (23.3 million euros), which offered 768 pieces.
– Price lull –
But the lull in prices could be welcome. “A relaxation of prices to levels of four or five years ago brings back customers,” underlines Albéric Bichot.
The average price per piece sold has in fact more than doubled, from 16,849 euros in 2018 to 35,980 euros in 2022, driven by demand which is not declining.
“Interest in Burgundy remains stronger than ever,” underlines Marie-Anne Ginoux, general director of Sotheby’s France, world leader in wine auctions, which manages those in Beaune.
Particularly in Asia: “Korea is exploding,” rejoices Guillaume Koch, director of Hospices. As proof, it is an oenologist of Korean origin, Jeannie Cho Lee, who has just succeeded a Briton as consultant to the Hospices wine estate.
Asian customers represent 42% of the turnover of wine sales organized worldwide by Sotheby's, according to the auction house. The proportion is similar to Beaune.
In the absence of a sufficient number of lots, this dynamism will not be sufficient to increase total revenue, on which the Hospices count for the maintenance and modernization of their structures, an item of expenditure not subsidized by the State.
Since their foundation, the Hospices have lived off donations made mainly from vines, as of course in Burgundy. Over the centuries, no less than 60 hectares of vines have been amassed. The wine estate, made up of 85% Premiers and Grands Crus, is one of the most prestigious in the world.
“The money from the sale is vital”, underlines Guillaume Koch to AFP.
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