Morrell Wines Auction or how the crisis is affecting everyone…

Morrell Wines, the well-known wine boutique on Rockfeller Center, is organizing auctions every couple of months (see the auction site here – the next one is in February). 

I started looking around to buy there since 2006 but the LBO years were not good for my personal wallet as much as it was for the international financiers who where driving these prices up and crazy. 

If there’s some good news with the depressed stock market and dwindling 401k is that it impacts pretty hard the auction market from art (see this WSJ article) to wine. So here I am, a bit hangovered from a Friday excessive wine-loving night, getting ready for a “not-for-my-wallet” depressing auction. 

But good news, most of the lots went unsold and very few of them were even in the recommended range from Morrell. They ended up sending to their most valuation customers an after-auction catalog with the unsold lots presented for acquisition at a slashed price (see the mail at the bottom of this post).

I’ve attached the PDF file of these lots here: MORRELL november15passedlots_revised  f. Great bargains there.

On my own, I secured at a 50$ price tag 6 bottles of 1988 Pichon Longueville Baron (bad year but grat wine) as well as something like 8 old californian for 60$ total. I’ll tell you if that was worth it when i receive the bottles…

In the meantime, start saving for the February auction!

 

 

From: MORRELLVIN@aol.com [mailto:MORRELLVIN@aol.com]
Sent: Sunday, November 16, 2008 11:27 AM
To: MORRELLVIN@aol.com
Subject: Revised (and correct) Morrell Passed Lot List Attached

Dear Bidder, 

Attached you will find a list of lots that did not sell in yesterday’s auction. They are currently available for purchase at the Reserve price listed on the document, plus our normal 18% Buyer’s Premium.

These lots will be sold on a first come first sold basis, so if you are interested, please contact me as soon as possible.”

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