S AFRICA: Nederburg Auction revamped
South Africa's biggest and oldest wine auction is to be revamped and downsized. The Nederburg Auction which saw a dip in prices at its 30th "vintage" last year will almost halve the number of cases on auction from 9,200 to about 5,000.
The auction will be reduced from two days to one on 9 April and an online bidding facility will be introduced.
There was an 11% drop in average prices with ZAR6.7m (US$1.13m) realised last year compared with ZAR7.5m in 2003. Only 7,977 cases were sold compared to 8,558 cases in 2003.
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