Buyers Bid High At Hospices de Beaune Auction – Brief Article
Prices exceeded all expectations at the 140th Hospices de Beaune wine auction. Prices for the 2000 Burgundy vintage set a new record, $4.5 million for 727 barrels, an 11% increase compared to 1999. The average price per barrel for the 121 barrels-(equal to 300 bottles) of white wine sold was $7,800, an increase of more than 21% compared to 1999. Red wines sold at an average of $5,750 per barrel, a +9% increase. High prices can be attributed to the strong dollar and yen.
The auction, held the third Sunday of every November, raises money for medical care and equipment in the Burgundy area. The Hospices is a non-profit hospital that owns 1 50 acres of vineyards, which have been donated over the last 500 years.
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