Saturday, February 26, 2005

Hilbert Wine Reports

Reports are trickling in about the wine sale at the Hilbert auction last night. Jim Arnold from Kahn's Fine Wine has been prominently interviewed and estimates that many wines were going for as much as 70% over value last night. He says that wine at auction will typically go for 40% under their estimated sale prices.

As predicted, much of the high end wine went for wildly inflated prices. Apparently, much of the middle range wine went for more than expected as well. Today's Indianapolis Star carries some additional information as well as Jim Arnold's suspicion that the '82 Petrus Pomerol Grand Vin wasn't quite what it seemed. It sold for $1000 to an online bidder. (My biggest concern with bidding online for wine like this would be the provenance of the bottles. No assurances were offered, as far as I've heard, as to where most of this wine came from prior to Hilbert's possession of and how it was stored.)

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