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Wine 11

Auctions drive me nuts

RicRios | Jan 29, 2008 11:01 AM

I've posted rants in the past re. auctions, but this one frankly just goes overboard.

November 17, 2007.
Sotheby's auction # 8365 ( "Warren Stephen's Collection"), lot 40, a 5 liter Petrus 82. Estimates $30,000 to $50,000, got an actual hammer price $32,500 ( plus commission of 19.5% ).

Fast forward to... February 8, 2008.
Wally's Las Vegas Auction, lot 52.
As per Zachy's catalogue, this is EXACTLY SAME bottle ("lot 40") purchased at the Sotheby's auction as described above.
Estimates? $45,000 to $80,000 !!!!

Item's estimates went up 50% in less than 3 months?
Are Zachy's buyers idiots??
Am I an idiot b/c I'm not selling at auction???
Any other theories????

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