News

Premiere Napa Valley 2008 12th Annual Barrel Auction Brings $2.2 million

Sunday, February 24, 2008
Location: Napa Valley, CA

With forecasts of more than three inches of rain and winds gusting to 70 mph over the Napa Valley ridge tops, and despite the topsy-turvy economy, wine retailers and restaurateurs demonstrated that they still believe wine futures from Napa Valley are savvy investments. This was proven Saturday, February 23 when the sold-out Napa Valley Vintners' (NVV) annual barrel auction, Premiere Napa Valley (PNV) brought record-setting earning of more than $2.2 million.

In just two-and-a-half hours, renowned auctioneers Fritz Hatton and Ursula Hermacinski brought the gavel down on 200 lots of one-of-a-kind wines offered in five-, ten-, or 20-case lots that were sold to a rousing crowd of wine trade from across the U.S., Canada and Japan. 67 bidders purchased 200 lots (a 4% increase over 2007) with revenues going to the non-profit trade association's efforts to promote and protect the Napa Valley Appellation.

PNV 2008 was chaired by the Duncan Family, owners of Silver Oak Cellars and Twomey Cellars. Winery Executive Vice President Tim Duncan said, "We are thrilled with the turn-out, the wines offered and the robust and continuing success of PNV. What started twelve years ago has become the 'must-attend' trade event of the year and attendees are staying longer in the Valley as vintners also host open houses and private tastings at this generally quieter time of the winter."

Sheltered from the storm in the 19th-century, three-story stone winery that now houses the Culinary Institute of America in St Helena, close to one thousand retailers, restaurateurs, wholesalers, media and vintners began the day shaking hands, trading hugs and telling stories. This is not just the association's "bake sale," but more importantly provides the setting to solidify business and personal relationships with the nation's top wine professionals that are key to the success of the wineries and the Appellation.

Perennial top-bidder Marcus Graziano of Captial Cellars in Roseville, CA said, "The event is so wonderful, it provides a special connection to the wineries and offers a great outlet to reconnect with everybody. And, "he continued," the 2006 vintage's quality looks fantastic."

PNV 2009 will take place Saturday, February 21 in Napa Valley and will be chaired by Bryan Del Bondio, president of Markham Vineyards.

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Tim and Roo Duncan pour at Release Day in Geyserville.