2/25/2023 - Saint Helena, CA - It was a magical week in Napa Valley as the 27th annual Premiere Napa Valley, conducted by Sotheby's, took place among the rare sighting of snowcapped mountains. While the snow was an unusual addition, the warm hospitality and the array of incredible wines on offer were a return to normal. The jovial spirits on display showcased the essence of what the auction week is about with the who's who of the global wine trade taking part from near and far.
"They call this the best week in Napa Valley and I can see why. While the main agenda is the auctions, this is an amazing opportunity to meet with many wine growers, taste a wide array of wines, in a super friendly and collegial atmosphere. I have felt very warmly welcomed this week and I have learned a lot," said Linden Wilkie, founder of The Fine Wine Experience in Hong Kong.
This year's Premiere Napa Valley will be a memorable one. Throughout the week the convivial spirit was evident in the array of greetings between friends and business partners old and new. And while wine country's upper elevations received 10 plus inches of snow, it didn't deter buyers from seeking out Napa Valley's rarest wines.
By the end of the annual auction week, 154 micro lots of Premiere Napa Valley wine and 53 lots of Vintage Perspective Auction wine had been sold to bidders in far reaching markets around the world.
"Today's phenomenal results show the enormous enthusiasm worldwide for these unique and innovative wines that showcase the best of Napa Valley. The 2021 vintage is clearly great, and is going to be in very strong demand, as witnessed today," said Jamie Ritchie, Worldwide Chariman, Sotheby's Wine & Spirits. "The boisterous bidders demonstrated enthusiasm from the first lot to the last, creating an energy that propelled the results."
Among this year's lots were 137 wines from the 2021 vintage. Trade members raised their paddles generously and the excitement over the 2021 vintage was clear. The average bottle price of a 2021 red wine was $295.
"The 2021 vintage is beyond perfection. Structure and finesse blend into a marvelous juice that will definitely take your breath away. I’m thrilled and excited to have been able to get a sneak peek of it, and can’t wait to work it in our market," said Juan Pablo Salgado, of Delizia Wine Boutique located in San José, Costa Rica.
This year bidding began on February 10 and culminated on Saturday, February 25, in person at the Culinary Institute of America, Greystone, and online. More than 250 trade accounts from 18 countries took part.
"We don't take for granted the joy that comes from this event, especially this year. It's been really meaningful this week to spend time with friends and business partners from around the globe. We're so appreciative of their support and are incredibly happy with the results," said Andy Erickson, Chairman of the Board of Directors for the Napa Valley Vintners and owner of Favia.
The auction brought in an impressive $3.4 million including wines sold in the Premiere Napa Valley and the Vintage Perspective auctions. All proceeds directly fund programs to promote, protect and enhance Napa Valley.
View the Premiere Napa Valley week photo gallery
About Napa Valley Vintners
The Napa Valley Vintners nonprofit trade association has been cultivating excellence since 1944 by inspiring its nearly 550 members to consistently produce wines of the highest quality, provide environmental leadership and care for the extraordinary place they call home. Since 1981, the NVV has invested more than $225 million in its community to provide equitable access to healthcare and opportunity for advancement in children’s education. NVV is dedicated to improving diversity and championing inclusivity in its community and in the wine industry. Learn more at napavintners.com.
Contact: Teresa Wall, Senior Director of Communications - 707-968-4210, email@example.com