The art of wine

A brand new partnership between auction house Aspire Art and Rueda Wine Co resulted in the sale of over R2 million worth of wines in an online auction this June.

As a consultancy that curates valuable collections for buyers and sellers who tend to appreciate the finer things in life, Aspire Art was expanding its traditional focus on art to other collections of value, such as collectable cars. “Essentially, we’re all art historians, but for us it’s about creating a platform for passion investments,” says Marelize van Zyl, CEO of Aspire Art. “That means they don’t just buy just the physical thing; there’s usually a deeper and more emotional connection involved.”

Moving into wine seemed like a natural step, so when Fernando Rueda, managing director of Rueda Wine Co. (RWC), reached out, they were eager to move forward with the joint venture. RWC is a local curator specialising in import and export, distribution, online retail, cellaring, brokerage and wine investment services, and is the custodian of many investment-grade wines.

Combining Aspire Art’s skills as auctioneers with RWC’s expertise in sourcing, storing and verifying the wines made perfect sense. “It was a match made in heaven,” Marelize says. “We could provide the auction platform, while Fernando and his team provided infrastructure and storage.”

“The love of wine is at the core of what we do at RWC, and art and wine go together perfectly as a passion investment,” Fernando says. “It’s not just about the wines being at the top end, in terms of investment and monetary value, but about taking them back to the market and giving more people access to wines that are no longer available.”

Universal appeal

Their first online wine auction, held in June, was built around South Africa’s 100-point scoring red and white wines, including several prominent international wines.

At such a high level, the distinctions between art and wine begin to blur. “The principles Fernando uses to select the wines are very similar to those we as specialists apply to art,” Marelize explains. “The crucial importance of provenance, the quality of the work, its physical condition… There are a lot of synergies.”

These commonalities were clearly being appreciated on the bidding floor. Marelize could see the art buyers were also asking questions and putting in bids.

But there’s also something ephemeral about wine. “With paintings or cars, they’re something you can always return to and look at again, but what’s so beautiful about wine is that it’s utterly fleeting. You can open a bottle and drink it, and it’s either too young, too old, corked, not corked… or it’s perfect. But you only get one shot at it.”

Although wine has intrinsic value as an investment because of limited supply and greater demand as it gets older, it’s this pleasure value and fleeting experience that make it one of the highest art forms, according to Fernando. “It’s much more than what’s in the bottle; it’s also who you share it with, what it tastes like, what it makes you think and feel. There’s something very rewarding about taking care of something until you can eventually enjoy it. That makes wine something special.”

Crafting value

But until that special moment arrives, the story has to do all the heavy lifting. It’s an aspect of high-value wines that’s both Fernando and Marelize prize highly. More than vineyards or cellars, few things can add more colour than people.  “Similar to art, the deeper you delve into wine, the more you uncover interesting artists and collectors,” Fernando says.

These are usually people who are fanatical about quality. “If you look at the top producers, the Duncan Savages and Eben Sadies, there’s immense passion for wine,” Fernando says. “Their concern isn’t necessarily for making premium wine, but they’re always asking how they can make their wine even better. Whether in the vineyards or in the winery, they’re completely uncompromising about quality, and always trying to see how they can make a 1% gain even if it takes 100% more time. That’s how you differentiate yourself.”

“These producers might not make the most hip wines, or follow the latest trends, but they’re respected for being unapologetically themselves. There’s a saying among collectors that you buy the producer, not the vintage. Making one great wine or one great vintage doesn’t make someone a great producer.”

Marelize agrees. “Buyers naturally gravitate to specific artists or styles with a specific theme or message. I could see our collectors engage with the wine the same way. They’re interested in the story behind the bottle or the label.”

Global excellence

The auction included a good mix of local and international wines, and interest exceeded the organisers’ expectations. “Without the international wines, we had a sell-through rate of 80%; with them we had a sell-through rate of 70%,” Fernando says.

They were encouraged by a Bordeaux Prestige Selection Grand Vin 2003 going to a local buyer for R187 600, showcasing a level of quality and confidence that bodes well for the future. “We wouldn’t have been able to launch a platform like this in London or Bordeaux, but that’s a good sign. In terms of wine, South Africa is world-class; in terms of wine markets, we’re still very young. But with that comes a lot of opportunity.”

“It’s a great foundation to build on,” Fernando says. “There’s a constant demand for these wines, and people are willing to pay what they’re worth. Global consumption may be down, but the demand for premium wine, the top 1%, has probably doubled. We see this throughout the world. People want to drink less, but better.”

Collectors can look forward to two more auctions this year, and Aspire Art strives to give every auction a unique theme with something fresh and exciting on offer. There’s even talk of a Champagne auction. “There’s a lot of buying power and demand for good products,” Fernando concludes. “South Africa is considered to be among the top 10 biggest markets for Veuve Clicquot and Moët & Chandon. And we’re the third biggest market for Hennessy in the world.”

Results of the auction

Single lot – sold for R64 488:

• Kanonkop Paul Sauer 2015 (100 points in Tim Atkin Special Report 2018; winemaker Abrie Beeslaar);
• Porseleinberg Syrah 2018 (100 points in Tim Atkin Special Report 2020; winemaker Callie Louw);
• Boschkloof Epilogue 2021 (100 points in Tim Atkin Special Report 2023; winemaker Reenen Borman);
• Alheit Vineyards Nautical Dawn 2023 (100 points in Tim Atkin 2024 Special Report; winemaker Chris Alheit);
• Sadie Family Wines Columella 2019 (100 points in Tim Atkin’s 2021 South Africa Special Report); and
• Sadie Family Wines Skurfberg 2019 (100 points in Tim Atkin’s 2020 Special Report; winemaker Eben Sadie).

Bordeaux Prestige Selection Grand Vin, 2003 – sold for R187 600.

Petrus Pomerol 2006 – sold for R82 075.

Chateau Margaux Grand Vin 2006 – sold for R35 175.

Sadie Family Wines Columella 2019 – sold for R25 795.