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Wine Spectator: Second Sale of Roy Welland Collection Totals $5.6 Million

December 1, 2014

The first installment of the Wally’s Auctions sale of Roy Welland’s wine collection, held in New York in September and raising $6.6 million, was going to be a tough act to follow. But on November 21 and 22, at the sale’s second part, in Los Angeles, Wally’s pulled off another impressive showing. Part II brought in $5.6 million, exceeding its presale high estimate of $5.5 million. Together, the 3,400 lots of Parts I and II of the Welland sale fetched $12.2 million, with a 98.8% sell-through rate.

Although the Los Angeles sale included enviable wines from Bordeaux, California, Champagne and the Rhône, it was Burgundy—rare bottlings, in large quantities, and with pristine provenance—that propelled the auction. The evening’s single top lot, at $44,400, featured 12 bottles of Domaine du Comte Liger-Belair La Romanée 2005. Nineteen lots from Domaine René Engel grossed $73,080, over a high estimate of $40,300.

Welland, who gained success as a financial trader and a competitive bridge player, endeared himself to the wine community when he opened Cru restaurant in New York in 2004. The foundation of the restaurant’s Grand Award-winning cellar was Welland’s personal wine collection, particularly rich in rare Burgundy wines. A selection of wines from Welland’s collection remains available at retail, and about 100 lots will go on the block at Wally’s December auction in New York. Wine Spectator has more.

 

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