Burgundy’s Hospices de Beaune Raises $16 Million

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On the strength of enthusiasm for the 2017 vintage, the annual charity auction soared to a new record high. Nearly 800 barrels of 2017 vintage Burgundy were sold at the Hospices de Beaune auction.

Burgundy’s Hospices de Beaune charity wine auction returned to the spotlight Nov. 19, raising $16 million in its 157th year, eclipsing last year’s $8.9 million and the previous high of $11.7 million, achieved in 2015. Managed by Christie’s auction house, the sale offered 787 barrels—630 reds and 157 whites—and bids poured in from 18 countries on four continents.

Heading into the auction, observers believed the 2017 vintage would draw healthy bidding—the year delivered both promising quality and increased yields. As an added draw, French-Armenian singer Charles Aznavour attended the event, representing one of the beneficiaries, the Foundation for Alzheimer Research. By the end, prices had increased by 8.6 percent compared to last year, an uptick of approximately 29.7 percent for whites and 3.2 percent for reds.

Continue Reading: Wine Spectator

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