News Briefs California
Trade buyers bid $5 million for Napa futures
The Napa Valley Vintners raised $5 million on Feb. 20 toward their own operations at the annual Premiere Napa Valley auction in St. Helena, Calif. The total was the third highest in the auction’s 20 year history. Trade buyers among the 1,000 attendees from across the U.S. and the world bought 226 one-of-a-kind lots of futures on mostly 2014 vintage wines. The wines will be finished and bottled later in amounts ranging from five to 20 cases each. Wines from established, well-distributed brands like Duckhorn and Rombauer vied with newer names such as Memento Mori and Nine Suns for the highest prices per lot.
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