Record-breaking Auction Napa Valley raises US$18.7mAuction Napa Valley News Wine News http://www.decanter.com/news/wine-news/586945/record-breaking-auction-napa-valley-raises-us-18-7m http://decanter.media.ipcdigital.co.uk/11150/000008423/161a_orh100000w160/Tinacci-140607-7186-M.jpg http://decanter.media.ipcdigital.co.uk/11150/000008423/0fb2/Tinacci-140607-7186-M.jpg
- 2014-06-09T09:16:00+01:00 Monday 9 June 2014
Frenzied bidding led to a new record total (Image: Jason Tinacci/Napa Valley Vintners)
The centrepiece of the weekend’s annual Live Auction Celebration at the Meadowood Hotel in St Helena raised an unprecedented US$12.65m, combined with yesterday’s Napa Valley Barrel Auction ($1.7m) and the online auction ($490,900) bought the total generated to US$18.7m.
The 34th edition of the event, which offers exclusive experiences, once-in-a-lifetime lots of wine, plus travel and dining-orientated activities drove sales to their highest levels yet.
The top lots from the Napa Valley Barrel Auction, which is comprised of cases primarily from the much-heralded 2012 vintage, included BRAND Napa Valley at $83,050, Shafer Vineyards at $55,200 and Continuum Estate at $52,750.
From the Live Auction, the highest earning lots came from Raymond Vineyards at $820,000, Mayacamas Vineyards at $660,000 and Promontory at $600,000. There were a total of 50 lots in the live auction.
Top lots from the online auction included Continuum Estate, Freemark Abbey, Mayacamas Vineyards & Staglin Family Vineyard at $21,000, Sherwin Family Vineyards at $15,650 and Grgich Hills Estate at $12,050.
Money was also raised for child healthcare projects in the community via the Fund-A-Need appeal. More than 100 bidders contributed in-person, in increments from $1,000 to $1million and online, starting at $30, for lots which have no wine, hospitality or trips associated with it, raising a total of $3.8m.
Speaking of the results, Linda Reiff, president and CEO of the Napa Valley Vintners (NVV) said: ‘We are amazed and humbled by the beyond-our-dreams results of this year’s Auction Napa Valley, and we are deeply grateful for the abundance we have been entrusted with.’
Russ Weis, the 2014 chairman of the NVV Board of Directors and general manager of Silverado Vineyards said: ‘Auction Napa Valley allows us to turn three days of the best of Napa Valley into 365 days of wellbeing for our community.’
Auction Napa Valley, which is organised and run by trade association Napa Valley Vintners, has donated more than US$120m to health, youth and affordable housing non-profit programs. Founded in 1981, the event takes place over four days in June.