With our online wine auctions celebrating their first anniversary last year, the forthcoming launch of our Wine Exchange in 2004 promises an even bigger year at Langton’s. The improved flow of information and the dynamics of real time auctions have resulted in a growing secondary wine market.
The development of www.langtons.com.au has been a significant investment and we continue to improve the service. The system is now faster and more efficient. Feedback has been extremely positive from both sides of the trading equation. Buyers and sellers are able to access immediate market analysis and account information. Although some feared an exponential growth in prices, the reality is that the overall market has remained steady and balanced.
At the same time the secondary wine market is now developing beyond the auction format. In response to market demand, in March 2004 Langton’s will launch its Wine Exchange, a new market for its members where buyers and sellers can trade under simple rules. Langton’s Wine Exchange will be an online wine market where sellers can set their price and buyers have the convenience of purchasing 24 hours a day, 7 days a week at a set price. Wines will be offered as cases only.
Langton’s Wine Exchange will trade in fine wine not available on the primary market. Provenance will be noted and guaranteed. Our Wine Exchange will feature the same high standard of customer service and expert advice our members have come to expect from Langton’s auctions. Detailed wine and price information will be attached to all wines on offer on the Exchange.
In addition to our regular two/three week online wine auctions, and the launch of the Wine Exchange in March, Langton’s has a busy programme of activities, new member benefits and a range of innovative services planned for 2004.
In February/March Langton’s will begin to update its wine Investment Tools with new vintage reports and market information. Updated tasting notes will also follow.
In March/April Penfolds will be releasing the fifth edition of Penfolds The Rewards of Patience written by Andrew Caillard, MW Langton’s Sydney director. Penfolds will also be holding its re-corking Red Wine Clinics throughout Australia’s major centres later in the year.
In May Langton’s and the Australian Wine Bureau will be holding a comprehensive tasting of classified and emerging wines in London for key European media and opinion leaders.
In July Langton’s will be conducting its annual Penfolds Grange Auction.
In August Langton’s will begin its review of Langton’s Classification of Australian Wine. The fifth edition of this benchmark listing is scheduled for release in April 2005. The sixth print edition of Langton’s Australian Fine Wine Guide, which will include the new classification, will also be released around this time.
In 2004 Langton’s will hold a special Bordeaux auction and a series of tastings for its members in major centres around Australia and Singapore.
In 2004 Langton’s team remains essentially the same. Kate Clarke, who was based in Sydney, will move to our new Melbourne office and warehouse in Richmond.
Langton’s success is built upon your trust and support. We need your feedback and advice to improve our client services. While the electronic format provides clients with tremendous ease of access, we would like to remind you that we are still all just a telephone call or email away. Should the need arise, please feel free to contact us at any time.
Below is a calendar of auctions for the coming year. If you wish to sell wine Langton's require the wine to be delivered to our cellars two and a half weeks before the auction opens online. If you have any questions about selling please contact us.
Auction Year 2004
Melbourne 108 opens 2/2/04 – closes 16/2/04
Sydney 108 opens 16/2/04 – closes 1/3/04
Melbourne 109 opens 1/3/04 – closes 15/3/04
Sydney 109 opens 15/3/04 – closes 29/3/04
Melbourne 110 opens 29/3/04 – closes 19/4/04
Sydney 110 opens 19/4/04 – closes 3/5/04
Melbourne 111 opens 3/5/04 – closes 17/5/04
Sydney 111 opens 17/5/04 – closes 31/5/04
Melbourne 112 opens 31/5/04 – closes 21/6/04
Sydney 112 opens 21/6/04 – closes 5/7/04
Melbourne 113 opens 5/7/04 – closes 19/7/04
Sydney 113 opens 19/7/04 – closes 9/8/04
Melbourne 114 opens 9/8/04 – closes 23/8/04
Sydney 114 opens 23/8/04 – closes 6/9/04
Melbourne 115 opens 6/9/04 – closes 20/9/04
Sydney 115 opens 20/9/04 – closes 11/10/04
Melbourne 116 opens 11/10/04 – closes 25/10/04
Sydney 116 opens 25/10/04 – closes 8/11/04
Melbourne 117 opens 8/11/04 – closes 22/11/04
Sydney 117 opens 22/11/04 – closes 6/12/04
Melbourne 118 opens 6/12/04 – closes 17/1/05
Andrew Caillard MW