Thomas’s Blog: Are Jayer Wines Worth That Much Money?

February 7th, 2012

I have been getting quite a few phone calls in the last two days from big Hong Kong and mainland China wine collectors who were asking me questions about the Christie’s wine auction on Friday in Hong Kong. The sale features 98 lots of wines from the private cellar of the late Henri Jayer, the great winemaker of Burgundy.

Offered are bottles and rare magnums of the most sought-after vintages of arguably the best wines ever produced in Burgundy, such as Vosne-Romanée Cros Parantoux 1985 in full cases, Richebourg 1985 in magnums, and even three bottles of the famed 1978 Richebourg.

I am just looking at the estimates of the wines, and considering the eagerness and willingness of collectors I have spoken to, I fear that prices will reach stratospheric highs. For example, the estimate for two magnums of Richebourg 1985 is HK $500,000 to HK $700,000. Let’s say the auction hammer falls at HK $600,000 – that will make those two magnums worth US $46,000 including buyer’s premium. Even a case of Vosne-Romanée 1995 is estimated between HK $150,000 to HK $200,000. And this is only a village wine! Even if it sold at the low estimate, that makes it US $2,000 a bottle! Same price as Richebourg 1995 from the Domaine de la Romanée-Conti! It is insane…or is it?

Okay. To be fair, the wines have the best provenance possible. They come straight from the Jayer family’s cellars and they are in immaculate condition. They have never been moved from their home. And as a bonus, they are all packed in original wooden cases. This is rather special, as wines from Henri Jayer were always packed in paper cartons rather than wood. There are only two exceptions: one is the wines released now and previously from the family cellar; and the other is wines that were bought on release by the world famous restaurant Enoteca Pinchiorri in Florence.

I have been very fortunate to have drunk many Jayer wines thanks to my friends here in Hong Kong (James has too). Yes, they are very good and, in many instances, great, but are they that good to command these insanely high prices?

I am looking forward to seeing how things will go at the sale. Christie’s was clever to stage this sale in Hong Kong rather than anywhere else, considering the biggest buyers of Henri Jayer wines are from here. It’ s not by chance that the catalog is in English and Chinese.

Let’s brace ourselves for new world record wine prices.

Thomas Bohrer has been living in Hong Kong for over 20 years and is the owner of various wine and food companies in Asia.