Strauss & co - 2019 Mid-year Review

In June, Strauss & Co launched its first wine sale at its recently expanded Houghton premises in Johannesburg. “Clearly the time is right to elevate South Africa’s finest wines – both old and new – to the same degree of collectability as older northern hemisphere wines, as well as professionalise their availability via a transparent auction platform,” said Frank Kilbourn at the launch of the semi-annual sale. Strauss & Co’s Fine Wine Auctions offer buyers access to a curated selection of collectable South African wines and is a joint venture with top sommelier Higgo Jacobs and Roland Peens, Director of Wine Cellar, both recognised industry leaders. “The auction process offers a transparent, structured and sustainable model for affirming the status of our finest wines, and I believe our wine industry will greatly benefit here from Strauss & Co’s expertise and track record in the visual and decorative arts sectors,” elaborated Kilbourn. The decision to venture into this new territory proved sound. The 183-lot sale earned R1 456 413 in sales based on a highly creditable 85.25% lot sell-through rate. The top-selling lot at the inaugural sale was a 275ml bottle of Jaubert Family Muscat d’Alexandrie 1800, South Africa’s oldest living wine, which achieved R51 210. Other notable lots sold included a 1986 vintage of the resurrected ‘Vin de Constance’ sweet wine from Klein Constantia, which sold for R34 140. The same price was achieved for a rare bottle of GS 1966, a cabernet shrouded in mystery. Susie Goodman, executive director at Strauss & Co, says: “Unlike the Cape, where the vineyards are accessible, the Fine Wine Auction brought the winelands to Johannesburg. It was a treat to host the event in our new larger space, which will also serve as the base for all our future auctions in Johannesburg.” The largest buyer at the wine sale was Marble, a Johannesburg restaurant owned by David Higgs and Gary Kyriacou. “We have just returned from the US and it’s evident how the top restaurants elevate their premium wines over there,” said Higgs after the sale. “We are happy with our purchases at the Strauss & Co Fine Wine Auction and these wines will bolster our commitment to showcase South Africa’s best wines at Marble.” The next Fine Wine Auction will be held in Cape Town, at The Westin Hotel, Cape Town on Lower Long Street, on Saturday 14 September at 10am and 2pm. Strauss & Co explores new terroir 32