Christie's Hospices de Beaune auction realises record sales of $11.1m

Christie's 154th annual Hospices de Beaune auction realised $11.1m in Paris on November 16, an increase of 28% on last year.

This represents a new record for the charity auction, which has been running since 1851.

Hospices de Beaune
The Hospices de Beaune auction has been held annually for the past 154 years

The top lot was the "president's cuvee" of Corton Le Bressandes Grand Cru, which sold for $293,569.

All proceeds from the barrel are divided between two charities, in this case the children's group Toutes a l'ecole and the Imagine Foundation, which provides healthcare.

A barrel of Clos de la Roche Grand Cru Cuvee Cyrot-Chaudron also sold well, realising $93,512.

Anthony Hanson of Christie's commented that while in the past the auction had acted as an indicator of the health of the burgundy market, at present the "barometer is broken".

He explained: "It's a charity auction, people are not buying to do business, but for another motivation."

However, there are other signs that the market is liable to grow into next year.

Jean-Michel Aubinel of the Confederation of Appellations and Winemakers of Burgundy (CAVB) told "The balance sheet is still delicate, but early estimates predict 1.5 million hectoliters production.

"This will bring plenty of oxygen to Burgundy as our stocks were at their lowest."

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