Nedbank Cape Winemakers Guild Auction 2014 sales figures

October 4, 2014
by Christian Eedes
in News
with 0 Comments
Man with a plan - Miguel Chan, Group Sommelier Tsogo Sun.

Man with a plan – Miguel Chan, Group Sommelier Tsogo Sun.

Sales at the 30th Nedbank Cape Winemakers Guild Auction held today amounted to R11 929 600, 42% up on the 2013 turnover of R8 401 400 million and a new record.

Tsogo Sun was the biggest buyer spending close on R2.47 million. Next was Alan Pick of the Butcher Shop & Grill on almost R1.9 million followed by Singita on R469 000.

In total, 2 833 cases (6 x 750ml equivalent) were sold at an average price of R4 210 per case and an average price per bottle of R701.82. This compares to approximately 2 653 cases sold at the recent Nederburg Auction, average price R2 639 per case and average price per bottle of R440. 90% of the wines were bought by local buyers compared to 69% at Nederburg Auction.

The three top selling wines based on an average price per case equivalent of 6 x 750ml were the Boekenhoutskloof Syrah Auction Reserve 2012 (R8 060), Kanonkop CWG Paul Sauer 2011 (R8 032), Etienne le Riche Cabernet Sauvignon Auction Reserve 2004 (R8 240).

Some perspective: The top end of the South African wine market has never looked better and is finally attracting meaningful critical acclaim as well as an enthusiastic following from wine enthusiasts.

A wine selling for R700 a bottle might seem expensive to the local punter but right now this amounts to roughly ₤40, €50 or $60 which is premium but hardly at the extreme. Bear in mind also that the rand-dollar exchange rate was about 9.8 this time last year and is now 11.2. It’s not “crazy” as some happy but disbelieving CWG members professed today but rather as it should be.

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