Hospices de Beaune auctions: why haven’t prices exploded this year?
We had the privilege of attending the Hospices de Beaune auction, a must-attend event for any lover of Burgundy's great wines. This 163rd edition, held on November 17, 2024, demonstrated remarkable resilience in the face of current challenges in the wine market. Despite an uncertain economic context and a less abundant harvest, the sale maintained its appeal to buyers from around the world.
A rare vintage that arouses enthusiasm
The 2024 vintage will go down in history as one of the most modest in terms of volume. With only 439 pieces auctioned, it is one of the three least prolific years of the last four decades. This rarity, far from being a hindrance, has on the contrary stimulated the interest of bidders.
We observed a notable increase in the average price of the piece, which stood at 31,647 euros , an increase of 2.5% compared to the previous year. As passionate sommeliers, we can only applaud this performance, which demonstrates the timeless value of great Burgundy wines.
Here is an overview of the observed trends:
- White wines saw a spectacular increase of 8%
- A new record has been set for the Bâtard-Montrachet vintage at €355,000 per piece
- Red wines fell slightly, with a drop of around 5%.
A sale with many facets
The Hospices de Beaune auction is not just a simple commercial transaction. It is a true oenological spectacle that combines tradition, prestige and philanthropy. This year again, we witnessed an electric atmosphere, where the auctions followed one another at a frenetic pace until 8:45 p.m.
Buyers fought to acquire treasures such as:
| Name | Features |
|---|---|
| Beaune Premier Cru | Elegance and finesse typical of the appellation |
| Meursault | Opulent and structured whites |
| Corton-Charlemagne | Exceptional white grand cru |
| Clos de la Roche | Grand cru red from the Côte de Nuits |
As vineyard adventurers, we can only be delighted to see these exceptional nectars find new ambassadors throughout the world.
The economic and charitable impact of the sale
With nearly 14 million euros collected, this 2024 edition ranks among the top 4 most profitable sales in the history of the Hospices de Beaune. This is a remarkable result that shows the vitality of the fine wine market, despite geopolitical and commercial uncertainties.
One of the highlights of the sale was the auction of the charity piece . This year, a Beaune Premier Cru was sold for the impressive sum of €360,000. We had the pleasure of seeing this act of generosity unfold under the eyes of a quartet of prestigious actors:
- Dominic West and Zabou Breitman, representing Doctors Without Borders (MSF)
- Jean Reno and Eva Longoria, for the Global Gift Foundation (GGF)
The lucky buyer, Alaor Pereira Lino, a passionate Brazilian, thus contributed to supporting these two noble causes. This charitable dimension adds an extra depth to the event, combining the pleasure of wine with concrete actions of solidarity.
Prospects for the Burgundy vineyard
The results of this auction bring hope to the entire Burgundy wine industry. Despite a complex 2024 vintage, marked by climatic hazards, the reputation of Burgundy wines remains intact on the international scene.
We, wine professionals, are reassured to note that this edition has not fueled the inflationary image that sometimes sticks to the great Burgundy vintages. On the contrary, it has demonstrated a subtle balance between valorizing wine heritage and maintaining a certain accessibility.
To end our journey in Beaune, we can say that this 2024 auction will remain etched in our memories as a testimony to the resilience and excellence of the Burgundy vineyard. It reminds us that each bottle is much more than a simple product: it is the ambassador of a terroir, a history and a centuries-old know-how that we have a duty to preserve and pass on.
