Premiere Napa Valley wine futures benefit auction raises $2.7M

All together, 3,700 bids were placed during the 25th annual wine futures auction Premiere Napa Valley, ended June 5, leading to $2.7 million raised for trade group Napa Valley Vintners, which organizes the event.

The hybrid virtual and in-person auction is considered to be a key event for Napa Valley’s wine business community, where specially crafted wines from the most sought-after local luxury brands are shown off to buyers such as top-end restaurants. This year the auction lots were mostly from the 2019 vintage.

Because of the pandemic, the auction was moved from February to the timing of the bigger Auction Napa Valley, which was put on hold indefinitely last year because of the virus. This was the first Napa Valley collective wine trade event since the pandemic began in March 2020.

“We were blown away by the enthusiasm and generous support of our trade partners. It was the best possible way to come together again after being apart for so long. The support shown was deeply meaningful and is an extraordinary example of the shared sense of enthusiasm and optimism we all have for Napa Valley’s future. We are over the moon and couldn’t be more pleased,” said Linda Reiff, President and CEO of Napa Valley Vintners, in the auction announcement.

Bids from around the world came in on 149 lots donated by 153 wineries. Nearly 250 trade accounts participated from more than 12 countries and 37 states across the U.S. Of those registered, only 60 attended in-person. In addition, more than 1,000 wine trade and consumers joined in the virtual vintage discussions leading up to the final auction.

“We were hopeful to engage more wine trade around the world and we achieved that. The team at Zachys did an amazing job of involving the bidders from both audiences,” said Stacey Dolan Capitani, vice president of marketing at Napa Valley Vintners.

Among the top lots were wines donated by Shafer Vineyards, a joint lot by Corison Winery, Dyer Vineyard, Gallica and Snowden Vineyards, Memento Mori, Dana Estates, Spottswoode Estate Vineyard & Winery, Stag’s Leap Wine Cellars, ZD Wines, Favia, Silver Oak, BRAND Napa Valley and Robert Mondavi Winery.

Napa Valley Vintners raised a total of $3.7 million from Premiere Napa Valley and from the new Library Wine Auction, launched during Premiere’s typical slot in February. The goal is to return Premiere to Feb. 21–26 in 2022.

Correction, June 9, 2021: Wines donated for the auction are made for the event. They aren’t new releases.