Bidding Smart at Napa's Big Barrel Auction

Aug 22, 2023

Napa Valley Vintners scaled down their annual June charity auction post-pandemic, in part because the bling element of the past was over the top. In this first year of the new format, bidders generally played along by bidding modestly.

The small 10-lot Saturday live auction drew just over $1.25 million in total bids, a far cry from 2019, when the auction weekend raised nearly $12 million for local charities, down from its peak of $15.7 million in 2017. That number will go up when the barrel auction is included, as it was in the pre-2020 figures. But the difference is still striking.

Of course the scaling down was by design, but it's still a reminder that whales like bling. The top lot on Saturday was a trip to South Africa (airfare not included) for a safari and winery visits that was put up by Staglin Family Vineyard; it garnered $500,000. That's a lot of money, but it would have placed 5th in 2019, when there were several opulent packages to choose from.

And only three of the 10 lots drew more than $100,000. No. 2 was a very Napa-centric package, offering 10 days hotel accommodations in the valley for two couples along with platinum passes to the BottleRock concert, two dinners and six magnums of Spottswoode Cabernet. That sold for $280,000. No. 3, a private concert at Gargiulo Vineyards by "Nashville singer-songwriters" to be named later with dinner and wine sold for $120,000.

In 2018, a behind-the-scenes experience at the US Open Golf Tournament brought a $1 million bid – nearly as much as Saturday's entire auction. But again, this was by design, as the vintners wanted a "more grounded, intimate event."

Meanwhile, the annual best part of the auction weekend, the Friday barrel auction, featured a lively last two hours as people around the world swooped in online to snatch up a case of wine for prices that in some cases turned out to be rare bargains.

In the barrel auction, 10 different winning bidders each get a case of wine, with each new bid coming in higher than the previous highest. Thus while the No. 1 bidder on the board sets the final highest price, the No. 10 bidder still on the board at the end often walks away with a surprisingly good deal.

The two highest bids at the barrel auction were different. Cardinale 2021 Cabernet Sauvignon was the subject of the most spirited bidding Friday. All 10 of its winning bids came in the final 90 minutes, with the last bidder pushing the top price up to $5000; tied for the most overall. At $417 a bottle, that's a lot of money, but considering the 2019 sells retail for $350, it's not exorbitant.

One determined bidder for Sire Estate Sleeping Lady Vineyard Cabernet Sauvignon 2021 pushed that wine's final top price up to $5000, tying Cardinale, but that was indeed a charitable effort as the No. 2 bid, just five minutes earlier, was $3100.

We're all usually focused on the big bids, and I'll get back to that in a moment, but I'm always fascinated by the values in this auction. My hero is whoever wielded Paddle #3, though that person is not going to be happy when I reveal his or her secret of bidding.

By bidding early, Paddle #3 scored again and again on wines that didn't end up getting 10 higher bids. This savvy bidder got one case each of Ca' Momi Cabernet Sauvignon 2022 and Silverado Vineyards Solo Cabernet Sauvignon for $200 each – less than $17 a bottle! Paddle #3 bid early and often on the same wines, walking away with two cases each of Trinitas Cellars Fidelis Red Table Wine 2021 and Bennett Lane Cabernet Sauvignon 2021 for $250 and $350 by having two winning bids for both. With these 6 bids, Paddle #3 scored 72 bottles of wine for $1600 – just over $22 a bottle. You are my hero, Paddle #3.

But if you bid early on say, Shafer Hillside Select Cabernet Sauvignon 2021, your bid was long forgotten as all 10 winning bids came in the final 127 minutes, topped by a $4500 bid in the end. That's $375 a bottle – which happens to be the current release price of the wine, meaning all 9 other winning bidders got a bargain. I'm telling you, the Barrel Auction is the place to be on auction weekend. Plus the tickets for it were only $500, compared to $2000 for the Saturday auction. And there was lunch.

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