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Napa Valley Premiere - Competitive Juices Yield Record Prices

On Saturday, February 22, 225 one-of-a-kind lots of meticulously produced Napa Valley wine were offered at auction to some of the world’s most passionate and well-moneyed wine sellers and restauranteurs. Four-and-a-half hours later the last gavel fell and a record $5.9 million had been realized, nearly doubling last year’s take which had been an all-time record itself.

2014pnv-6671
The gavel falls on the last lot at the 2014 Premiere Napa Valley Auction.
Photo Bob McClenahan.

The proceeds of Napa Valley Premiere go to support the efforts of the Napa Valley Vintners in promoting, preserving and improving that AVA, but there’s much more on the line. There is pride. There’s reputation. And, to some extent, there’s the promise of winery revenue. Stratospheric auction results aren’t an abstract number. They are to some degree a measure of the winery’s reputation, the star-power of the winemaker. Top results mean a press release and the opportunity to edge the price of all wines upward.

One particularly competitive winemaker stumbled toward me, crestfallen. “I’m a loser!” he said. This from a guy who was actually among the top sellers. But a handful of lots had gone for more than his best. Moments later when the 60-bottle lot of Scarecrow made by Celia Welch sold for a mind-blowing $260,000, he looked like he wanted to throw up. He was now “loser” by an order of magnitude.

For the most part though, Napa Valley Premiere was an “all smiles” event. Dozens of winery-hosted events earlier in the week had drawn trade buyers, top sommeliers and press to the valley. New releases, library wines and the auction cuvees were poured side-by-side. There were big dinners, quiet meetings, cocktail parties, dancing and more.

The after-lunch auction itself was preceded by a tasting of all the lots that morning in the historic barrel room of the Culinary Institute of America at Greystone. It’s the best meet-and-greet-and-taste that this country’s most important wine region offers with samples poured by the winemakers, proprietors or both for a crowd small enough to enable friendly conversation and detailed questions.

I didn’t taste every wine this time, opting instead for deeper conversations and very detailed notes on a select number of wines which I was reviewing for the St. Helena Star. Alder Yarrow did make it to nearly every barrel though, so keep an eye on Vinography for his commentary.

Of the wines I did taste, I found much to love. There was the savory complexity of the Mt. Brave and the dynamically fruited Ovid. Oakville Ranch offered yet another supple, stunningly gorgeous Cabernet Franc. Inglenook’s wine is showing heightened sophistication under estate manager Philippe Bascaules. New label Pulido-Walker debuted with a wine made by Thomas Brown that offered amazingly pure aromas of freshly crushed black currants. Another wine by Brown, for THE GRADE, offered mineral-laden scents and a beautifully creamy mouthfeel. Schramsberg refreshed and delighted with a late-disgorged sparkling wine from the 1993 vintage. I taste thousands of wines every year. Many of them are truly excellent. Nonetheless my pen was shocked to be writing scores such as 95, 96 and 97 with such frequency. 

Quick Stats for the 2014 Premiere Napa Valley Auction

Auction lots - 225
Total revenue - $5.9 million
Average bottle price - $283
Highest-selling debut offering - Pulido-Walker for $65,000

Top Ten Lots
$260,000 from The Wine House for 60 bottles of Scarecrow made by Celia Welch
$100,000 from Beverage Warehouse for 60 bottles of ZD Wines made by Brandon deLeuze and Chris Pisani
$100,000 from Zoes Restaurant for 60 bottles of Shafer made by Elias Fernandez
$100,000 from Bounty Hunter for 60 bottles of Schrader made by Thomas Brown
$90,000 from Wine Library for 240 bottles of Robert Mondavi Winery made by Genevieve Janssens
$90,000 from Wine Library for 240 bottles of Cakebread Cellars made by Julianne Laks
$85,000 from Wine Library for 120 bottles of Bevan Cellars & Chateau Boswell made by Russell Bevan
$80,000 from Cliffewood Wine Syndicate for 240 bottles of Reynolds Family, Constant and David Arthur made by Steve Reynolds
$80,000 from Imbibe Wine & Spirits for 60 bottles of VHR Vine Hill Ranch made by Francoise Peschon
$80,000 from Total Wine for 240 bottles of Silver Oak made by Daniel Baron

Top Five Bottle Prices
$4,333 for Scarecrow
$1,666 for ZD Wines
$1,666 for Shafer
$1,666 for Schrader
$1,333 for VHR Vine Hill Ranch

Most Represented Winemakers
Thomas Brown - eight wineries
Philippe Melka - seven wineries
Aaron Pott - four wineries

Top Grossing Winemakers
$340,000 - Celia Welch
$302,000 - Philippe Melka
$255,000 - Thomas Brown
$113.000 - Russell Bevan 

Top Buyers
Total Wine & More of Potomac, MD
Bounty Hunter of Napa, CA
Cliffewood Wine Syndicate of Little Rock, AR
Wine Library of Springfield, NJ
The Wine House of Los Angeles, CA
Gary’s Wine & Marketplace of Madison, NJ
Nakagawa Wine Company of Tokyo, Japan
Beverage Warehouse of Los Angeles, CA
Yakiniku Hiroshi of Honolulu, HI
Meritage Wine Market of Encinitas, CA
Zoes Restaurant of Virginia Beach, VA
HEB of San Antonio, TX.

Specifics on each wine can be found at http://premierenapawines.com/2014/

Download a Full List of 2014 Premiere Napa Valley Auction Wines & Realized Prices

Follow NorCalWine on Twitter for wine news, information on events and more, or friend me on Facebook. This article is original to NorCalWine.com. Copyright 2014. All rights reserved.

Comments   

 
Pam Strayer
#1 Pam Strayer 2014-02-25 17:49
Wow - what a great count. Thanks for publishing the top buyers and lots along with the other stats.
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Fred Swan
#2 Fred Swan 2014-02-25 19:42
It was quite a day, Pam, and amazing by how much this year's event surpassed all of those in the past.
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