Buyers invest R10.4 million in top SA wines

In an era of online auctions forced by Covid19 and fuelled by the demand for exceptional South African wines,  this weekend saw the 37th Nedbank Cape Winemakers Guild (CWG) Auction and its Protégé Programme Charity Auction raise a collective sum of R10 411 000.

Not only have buyers worldwide invested in the future of the South African wine industry, but so too have the members of the CWG by donating items in support of the Protégé Programme. As the Wine Enthusiast Magazine justly put it: "There is no better time to drink South African Wine," and we believe the results have set the trend for the competitive prices achieved.

The annual Nedbank Cape Winemakers Guild Auction raised R 9 856 500 with a total of 1 734 cases (6 x 750ml) sold. The average price per case amounted to R5 684, with an average price for red wines of R6 016 and R4 697 for white wines. The CWG Auction provides wine enthusiasts and investors with the ideal platform to purchase top South African wines at primary market prices.

With prices reaching R15 000 per case (6 x 750ml), new records were set for Merlot (Hartenberg CWG Auction Merlot 2018 from Carl Schultz at R6 500), Mourvèdre (Beaumont Family Wines Whole Bunch Mourvèdre 2017 by Sebastian Beaumont at R5 500), White Blends (Lismore Estate Vineyards Here Comes The Sun 2020 from Samantha O’Keefe at R7 500) and for Shiraz (Cederberg Teen Die Hoog Shiraz from David Nieuwoudt at R14 667).

Andrea Mullineux, CWG Chair says: “Each member of the Cape Winemakers Guild consistently strives for excellence in the art of wine as individuals and together, uplifting each other as well as those who are the future of the wine industry. These two successful auctions showcase that our investment in winemaking and in the people who are becoming the next generation's winemaking role models are producing results that will have a positive ripple effect for years to come.”

The CWG and its Auction partner, Nedbank, are thrilled that the Guild’s trajectory of excellence sparked the interest of buyers from 19 countries, enticing loyal as well as first-time buyers globally to invest in top South African wines.

International buyers purchased 37% of the total wine offering, but as always, the predominant support (63%) was still from a loyal domestic base. Globally, buyers from UK, Denmark, Netherlands, Luxembourg, Belgium, Germany, Hong Kong, Switzerland, Namibia, Poland, Sweden, Australia, and the USA purchased auction wine.

Bonhams Auctioneers maintained a steady momentum for just over eight hours on Saturday, reeling in bids from their live Auction room in London, via the Bonhams app and online, as well as bringing the hammer down on several telephonic bids.

“It was a great pleasure to be able to conduct this year’s auctions in London for the second year running.  The fact that both sales were 100%  sold, with many new record prices says much for the increasing reputation of South African wine and for the pioneering work of the Cape Winemakers Guild, especially with the Protégé Programme.” says Richard Harvey MW, Bonhams Global Head of Wine.

The Cape Winemakers Guild Protégé Programme Auction concluded with a total of R554 500 and coupled with the Guild’s first Protégé Auction held in June this year, the  total amount raised by the Members for the Protégé Programme is R1 010 200 this year. 

According to Khensani Nobanda, Nedbank Group Executive: Group Marketing and Corporate Affairs, Nedbank is proud to be part of this exciting initiative that annually provides a platform for top winemakers and Protégés to bring their inspiring experiences and wine stories to life. 

"The wine industry contributes substantially to the economy and job creation, both vital as we recover from the impact of the COVID-19 pandemic. To this end, the Nedbank Cape Winemakers Guild Auction is an event that aligns with our brand purpose as 'money experts who do good’. Therefore, all proceeds from the wine auction help build the reputation of outstanding SA wines and enable us to groom talent of the future as part of the Protégé Programme, thus contributing to the industry's transformation," Nobanda added.

With regards to the significance of having two online auctions, the Guild believes that the main Nedbank Cape Winemakers Guild Auction plays a pivotal role in building the reputation of outstanding South African wines while the Guild’s Protégé Programme Auction perpetuates the members' commitment to meaningful transformation.