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Nederburg returns this year with super-charged bidding

Nederburg returns this year with super-charged bidding

Author: Yegas Naidoo, Miles for Style
Date: 2014-09-26
In any Auction scenario a persuasive and artful Auctioneer can often get bidders to part with more money than they intended to spend. This was not the case this year at the Nederburg Auction which took place in Paarl recently as the bidding was steady, paced and far surpassed, with great ease, the pricing levels of previous years even setting a record breaking price per Litre of R597.36, a 68.5% increase on last year's figure.

In total just over R7 million was raised during the two day event. Within the first hour on Friday the R1 million mark was broken and no lots was left unsold. This success was adequately summed up by the Auction Manager Ms Dalene Steyn "South African wine has long been undervalued and this year's edition proved to be a correction of this trend. This also recognizes the exceptional quality of the wines on offer."

Further price records were broken in numerous categories of these carefully selected rare quality wines. A case of Nederburg Edelkeur 1979 [12 x 375ml] sold for R6,444 more than doubling the previous highest price raised for Noble Late Harvest wines. Meanwhile Hidden Valley Shipwreck Shiraz 2009 achieved the auction's highest ever price for a single bottle of red wine at R7,333. Demand drove price with bidders paying a premium of 215.2% on the 2014 reserve price, compared to 91.7% on the 2013 reserve price.

The famed Charity Auction led by winemaker Ken Forrester rose R209,000 for this year's causes, Hope Through Action and the Breytenbach Centre. Among the top lots of this event were a case of Nederburg Vintage Cabernet 1975, which sold for R47,500

Among the buyers, South African bidders contributed to 70% of the bids with strong bidding emanating from Namibia, Taiwan and buyers from the Mid East also. The top buyer at this year's event was hotel group Tsogo Sun, accounting for R723,900, more than 10% of total sales.

When you have reached your fourth Decade as a prestigious wine Auction with Global stature - the biggest in the New World - your grandeur and offerings become highly fine tuned to ensure continued following and support. The Auction celebrated its 40th Anniversary this year and over the period, whilst not losing in essence the core function of selling wine, it has honed the template to now also provide sophisticated entertainment platforms to fulfil the current Lifestyle desires of both bidders, overseas buyers and visitors.

The 2014 Nederburg Auction has once again made a stamp of significance in the Annual Wine calendar and a hat-trick next year might not be necessary, let the wines speak for themselves once again.

Yegas Naidoo born in South Africa educated in the United Kingdom. As a Lifetime Platinum Frequent Flyer with South African Airways she has been selected to be a regular Judge on the SAA on Board Wine Selection Panel for the last 10 years

This continued fervour still remains elevated, now at a commercial level, through a newly formed company "Miles for Style" an e-commerce portal selling luxury branded goods including wine in association with Airline Loyalty Programmes.