WineGavel's Latest Live Auction at The St. Regis San Francisco Hammers At Almost $700,000 to Kick-Off the Spring Wine Season

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WineGavel's latest live wine auction at The St. Regis Hotel in San Francisco brings in an impressive near-$700K with over 87% of all lots being sold. The latest auction has confirmed that WineGavel is a true force in the Fine & Rare Wine Auction industry and is poised for growth. The next live auction is scheduled for June 2011 in San Francisco.

WineGavel is pleased to announce an outstanding result for its Early Spring 2011 fine & rare wine live auction on April 8th at the St. Regis Conservatory in the vibrant SoMa district in San Francisco. The sale, which consisted of numerous treasured wines, brought in a total of $692,000, with over 87% of the lots sold against the auction low estimate.

WG & Company CEO Joshua Krummenoehl noted, "The auction was a success from beginning to end, and was a coming out party for our new Action Director, Gence Alton. His well designed pre-auction tasting featured samples from each of the collections in the auction, and had over 50 people attending to taste the likes of 1996 Chateau Margaux, 1990 Chateau Latour, and 1995 Krug, among many others. It showed to me that the market for fine and rare wine auctions in San Francisco is just being developed with incredible upside potential ahead."

With over 14 lots topping the $10,000 mark, there were big numbers going around the packed auction room. Some of the highlights include 2000 Chateau Lafite Rothschild 2000, 12 bottles $30,940, Assortment Domaine de la Romanee Conti 1989, 12 bottles $26,180, Chateau Lafite Rothschild 2003, 12 bottles $19,640, and an enourmous 18 Liter bottle of 2005 Chateau Cheval Blanc hitting $23,800.

Auction Director Gence Alton said; "WineGavel's greatest live auction to date was a glorious celebration of fine and rare wine with significant interest from all corners of the globe. The Pre-Auction Tasting showcased the prevailing theme of pristine provenance and beyond the usual suspects hammering above estimates, many rarities hardly seen at auction gained remarkable flair as the evening built up to a crescendo. We thank all of our distinguished guests, clients and consignors who continually support us with their genuine enthusiasm."

WineGavel’s next live fine & rare wine auction is scheduled to take place in June in San Francisco at the St. Regis hotel. Consignments are being accepted now for this prestigious event. All auction lots are maintained professionally and meticulously by WineGavel’s exclusive state-of-the-art private cellarage facility, Cellar29 of Napa. The upcoming auction will include an impressive, distinctive offering with a focus on Burgundy and Champaign.

WG & Company

Formed in 2009 as a new premiere entrant into the fine and rare wine auction segment, WineGavel & Company has successfully launched two of its business units, WineGavel Live auctions, which feature the top luxury rare wine brands from premier and exclusive collections and WineGavel.com online auctions which offer an incredible and accessible lineup of wines during our weekly online internet-only auctions. The highly anticipated launch of our collector’s services and storage business, Cellar29 is forthcoming in May, and we continue to prepare for our re-launch of AvidWines, a cutting edge limited time offer online luxury wine boutique, later this season.

For further press information please contact Richard Caplan at richard (at) wg-co (dot) com

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