Romanee-Conti Burgundy Wine Collection Auctioned for $12 Million

(Bloomberg) -- An auction of top Burgundy wines garnered $12 million in Geneva on Sunday, another success for upstart auctioneer Baghera Wines, which is on track for a record year.

The private collection included more than 1,000 bottles from Domaine de la Romanee-Conti, which makes some of the most expensive wines in the world. It was estimated to sell for as much as $8.5 million at the Swiss auction house.

Romanee-Conti Burgundy Wine Collection Auctioned for $12 Million

Domaine de la Romanee-Conti produces wine exclusively from grand cru vineyards. The top lot featured 12 bottles from the eponymous site, spanning vintages from 1937 to 1991, and went under the hammer for $553,000 after a contest between some 20 bidders in the room, the phone and online.

Baghera held the world’s top wine auction in June, raising $35 million selling bottles from the descendants of revered Burgundy producer Henri Jayer. The firm, founded by former Christie’s employees Michael Ganne and Julie Carpentier, has been expanding as larger competitors such as Sotheby’s cut costs to focus more on artwork, which is a more lucrative auction market.

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