So the catalogue of the Sotheby’s ” Finest and Rarest Wines & Vintage Port” auction has just arrived. It turns out it is absolutely packed with masses of expensive wines (which I could have guessed based on the title), but my oh my is it all mouth watering.

There are mainly red wines from Bordeaux, followed by Burgundy (pretty equal selection of red and white), and then the odd Australian (Grange etc.) and American wines such as Ridge Monte Bello. The weird mature Austrian reds I had been looking forward to are nowhere to be found…

I quickly scan the catalogue for lots around the £200-300 mark, which is the sort of sum I have in mind for my first wine auction experience. Most wines are offered per case of 6 or 12, however there are quite a few cases where single bottles are offered, such as a Chateau Lafite 1998 at £280-£360, and sometimes an odd number of bottles brought together in a lot.

Each collection is briefly described, for instance, one reads: “First growth Claret, Yquem and other fine Bordeaux, removed from excellent continental storage. Lying in Brentford, Middlesex. Offered Duty Paid only”.

In regards to identifying any bargains I’m a bit at a loss. Obviously, being there on the day to see which ones will ‘under-perform’ vis-a-vis the asking price is one thing, but how can I try and analyse the catalogue to find good value and exciting wine? Based on the assumption that lots that are made up of odd number of bottles will cost less, rather than cases of 6 or 12, I identify a couple of interesting ones which I will keep an eye on.

There is also one collection that has been stored in damp conditions so some of the labels are not in perfect condition. The description says: “…while the temperature was ideal, it was rather damp and a proportion of the labels have suffered. The collection is keenly priced to reflect this…”

Since I am buying wine to drink and not as an investment I don’t really care much about the condition of the label as long as the wine hasn’t been affected, however an investor might, and most certainly a restauranteur will. Therefore I decide to spend some more time analysing this collection.

It would also be nice to buy some mature wine which is ready to drink but can be enjoyed over the next 5-10 years or so, so this narrows the search further.

The following wines stick out:

• Château Léoville Las Cases 1986 (St Julien, 2eme Cru Classé). 2 bottles with an asking price of £340-400.
This is a lot of money for two bottles of wine, however a quick search reveals that it seems to be a good bargain. At 1855.com it is available at €369 per bottle (tax included), which may be explained by the 98 Parker score. However a search on wine-searcher.com, which is an aggregator of prices from around the world, offers it for around £200/bottle, which is more in line with the asking price.

• Château Cantenac Brown 2000 (Margaux, 3eme Cru Classé). 12 bottles with an asking price of £260-340.

Intuitively, without having done any research, this seems like good value to me. 2000 was a great Bordeaux vintage, and this is a whole case of wine from a reputable classed growth. While Serena Sutcliffe in her tasting notes says it ‘needs time’ I personally like my wines a bit tannic and don’t mind decanting them. And this will provide me with 12 bottles instead of 2 and it will be interesting to open a bottle each year and see how it develops.

A search on wine-searcher.com list prices from around £30 per bottle. So if I can have this for £260 for a case that would be a bargain, even if I add the 15% sales commission. (However I’m not sure how reliable the prices on these aggregator sites are and if the storage conditions are guaranteed. Does anyone have any experiences to share?)

• Château Pichon Longueville, Lalande (Pauillac, 2eme Cru Classé). 4 bottles in total (86, 88, 89, 97) with an asking price of £240-320.

Again, several of the bottles are ‘heavily soiled’ which could I’m sure be a turn off for some buyers. This would be an interesting ready-to-drink lot which could make me a popular dinner host come autumn. I also like the idea of tasting several vintages of the same wine. The vintages for this lot are not the very best, however this is a top classed growth making wines built to last so I’m sure they will keep well. Interestingly, the oldest of these wines (1986) gets the recommendation ‘keep’ in Decanter’s Vintage Chart, whereas the 1989 and 1997 are recommended to ‘drink now’.

This lot clearly fits my brief, now I just need to hope for the best on the day.

Remembering what the lady at Sotheby’s said about sometimes great bargains can be had towards the end of the auction when online bidders have logged off I turn my attention to the lots listed towards the back of the catalogue. There are some interesting lots here, especially for dessert wines (with the added bonus of making my wife happy), for instance 3 bottles of Ch. Climens 1986 for £120-180 or 12 bottles of Ch Coutet for £340-420.

I can’t wait! So excited!

How would you go about identifying bargains? Please share your experiences.