Sterling Wine Auctions Australia

Wine in boom town; or Riedels for the lotus eaters

Read on for more on the recourse boom and conspicuous consumption

The much celebrated resources boom and property price sky-rocket has been slow to boost the secondary wine or Auction market.

Maybe our mining czars and property tycoons are busy importing direct from the enchanted vineyards of Europe or maybe an Australian Vineyard is the must have fashion and tax effective accessory of the Ferrari set.

All the flash new rich drinking their own brands?

Perth has always enjoyed a climate that encourages conspicuous consumption and sensory over-load. These days Perth has taken on the mantle of leader in the slick, style and indulgence stakes. The Gucci shop is doing a roaring trade and there is a one year wait to take delivery of any respectable super car or ocean going gin palace.

This turning away from simple life has hit the Riedels of our lotus eaters. The good old Aussie cringe associated with being too flash has been hidden behind designer sunnys adorned with alarmingly large diamond encrusted D&Gs.

buying flash wine is now all the go

What's hot in the cellars and on the cellars of the upwardly mobile?

Penfolds Grange has taken a battering over the past few years, under attack from the enemies within including the RWT and assailed by the vulgar upstarts like Torbreck Run Rig and Greenoch Creek Roenfeld road. It takes a special relationship with your wine merchant or somerielier to have a big Parker pointed Barossa Block buster wheeled out for pleasure.

For most of the "more traditional" filthy rich Penfolds Grange is just the ticket. Grange prices have firmed with the trophy wines from the 1950's and 1960's reaching giddy heights. The February Sterling catalogue sold a cliniced 1955 Penfolds Grange for a cool $3K and a cliniced 1967, seems very good 40th birthday buying at $550.

The "rank and file" smart vintages of Grange 1986 1990 1996 1998 have not broken records just yet but they are travelling as high as hype has ever carried them in the past.

The much celebrated 100 Parker pointer, the 1976 Penfolds Grange is heading skywards with prices for good examples nudging the $600 mark.

The iconic 1971, may be the first contempory Grange to crack the Grand. Competition for the small number of good examples is fierce and driving prices through the $700 mark.

Its good to know that the new rich and, no doubt, those well known in the members stands of the nations race courses take particular notice of Mr Robert Parkers pronouncements.

Molly Dooker carnival of love is brand new on the scene but carries the winning double of a 99 point RP score and the golden hands of Sarah and sparky Marquis. Demand is hot, very hot.

The news that everyone has been waiting for is the confirmation of the next big new thing. Well I reckon the new "black" on the wine fashion stakes is anything with Tempranio or Pinot Grigio in it.

Rush out and see how many different options have popped up.

Where to from here? Are the promoters of subtle Rhone style elegant wines backing the wrong horse?

The nations love affair with chardonnay seems to have lost its gloss, shame we are making better chardonnays now than when they were all the rage.

It seems that the before mentioned Aussie cultural cringe has been re-born as Euro wine snobbieness.

Yes, there are legions of Pinot Noir and Bordeaux and Barolo Lovers ready to go thirsty if drinking Barossa / McLaren monsters were the only option.

Me thinks that there are many new converts to the euro style wines who stash a bottle Barossa Old vine shiraz away for personal, private enjoyment.

Of course we all know that there are more legions mustered under the banner of all extremes of fruit wood and alcohol

There have been a few weird thing going on this year. Good old Moss Wood Cabernet, the toast of Margaret River has found some very happy friends. Prices of the better vintages now seem to live on the high side of the ton.

Cullen, Moss Woods perennial running mate seem to be experiencing a similar new golden age of buyer demand.

The champagne disease has so many of us in its grips. Once bitten by the prestige cuvee bug you are addicted to a habit few can afford. A suitable reflection of our resource boom salad days if the interest in top bubbles.

Salon, Pol Winston Churchill, good old Dom Perrignon, even Grand Dame, everyone is in on the act.

How many punters, happy to suds down in a VB last century, are now offering authoritative opinions on the 1988 Krug. Comparisons with the 1998 Dom, of course, are inevitable.

Joy of joys we are through the wine glut and without a minute to catch our breath we have bounced straight into a wine famine. Very confusing! but I am told that the pain and suffering endured by our drought and disaster stricken wine growers is good for us.

A final note, more joy, Aussie Rieslings, legends to all but us, are enjoying new support, new interest coming from the jaded post chardonnay set and the weary jet setters fresh back in OZ after hard work on the Swiss / Austrian ski slopes or raids on the Board rooms of London. We are so spoiled. Just smile and keep the secret to yourself!

March 2007