March 2024 Auction Report | Evident enthusiasm for Spanish and Italian wines

Vega Sicilia at iDealwine auctions

Countries such as Spain and Italy prove to be dynamic at iDealwine auctions just as was the case in March. Between iconic wines and newer hidden gems, these two major wine-producing countries are beloved by wine enthusiasts.

Vega Sicilia and Spain’s biggest names – mature vintages highly sought after

Wines produced by Vega Scilia, an historical Spanish estate and certainly one of the country’s most famous, stood out at auction. Its flagship wine Unico took the top step of the podium for Spanish wines, as expected. In March, mature vintages stole the show with bottles coming from the 1920s, 1930s, 1960s, 1970s, 1980s and 1990s. The 1970 vintage of this legendary wine that’s aged for nearly 10 years in wooden barrels and glass bottles was the most sought-after, obtaining a hammer price of €901 (+4%). The 1962 wasn’t far behind, selling for €876, while the 1960 was auctioned for €626. All of the bottles put up for auction in March – some 30 of them in total – found a buyer.  Even if the prices are no longer spiralling out of control, the wines were bought by a varied audience around the world, uniting those in Europe, Asia and the Americas.

Viña Tondonia is another historic and symbolic Spanish producer. Owned by R. Lopez de Heredia, it is always highly sought-after at auction. The estate created in 1870 is beloved by wine enthusiasts for both its white wines and its reds. Like Vega Sicilia, it favours long maturation which can last up to ten years and offers wines with immense ageing potential. The red Reserva from 1954 was auctioned for €401 in March (+125%) and the white from the 1934 vintage went under the hammer for €275.

Comando G, a symbol of renaissance for Spanish viticulture

It’s been about two or three years since Comando G, an estate near Madrid, caught the attention of wine enthusiasts going through auction catalogues. This biodynamic and natural estate places Grenache grown at altitude centre stage and is one of the numerous representatives of new wave Spanish producers who have rendered this country dynamic and attractive in recent years. The wines from this producer were also well-represented in March’s auctions. Vinos de Madrid DO Comando G DO Tumba del Rey Moro 2018, produced from old Grenache vines went under the hammer for €288. Tamboril Sierra de Gredos 2019 was auctioned for €263, while Las Umbrias 2018 crafted from a small plot of Grenache located at 1,000m above sea level, was sold for €213.

Italian stars always shine brightly

You have probably read recently that Italy is the leading country after France at iDealwine auctions and its share continues to grow year on year. Nearly 7,700 bottles (when scaled to 750ml) went under the hammer in 2023, marking a 37.5% increase in the volume sold compared with the previous year. And there is no sign that this trend will slow down any time soon! March’s auctions contained several illustrious Italian producers. For example, a Brunello di Montalcino DOCG Riserva Soldera Case Basse Gianfranco Soldera 2001 was auctioned for €1,189 (+73%). Some mature bottles of Langhe from Angelo Gaja also appeared such as Langhe Sori Tildin 1996 which sold for €438. A Barolo DOCG Brunate 2014 from Giuseppe Rinaldi also saw its price climb by 17%, going under the hammer for €408. Have you heard of Félicien Marceau’s saying? “A person who doesn’t like Italy is more or less a heathen.” Wine enthusiasts bidding on Italian wines in March certainly like the country and its produce.

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