The first Greek wine auction organised by VERGOS Auctions was held yesterday with outstanding success at the bioclimatic Papagiannakos Winery.

The auction concluded with a 100% by value result, based on the initial pre-sale estimates, while 75% of the rare and collectible lots were sold at prices significantly above their estimates. These results clearly confirm the momentum and growing maturity of the Greek fine-wine market.

Wines of historic significance, limited production, as well as iconic large-format bottles of 3, 6, and 9 litres emerged as the protagonists of the auction. Among many notable lots, particular attention was drawn to the 1947 Vinsanto (0.5L) from Estate Argyros, PDO Santorini, which, with an initial estimate of €100, achieved €1,223 after intense bidding.

Also standing out were the 3-litre Naoussa Boutari 1994, PDO Naoussa, sold for €673 against an estimate of €300, the 3-litre Foundi Estate 2008, PDO Naoussa, which rose from an estimate of €200 to €489, as well as two 1.5-litre bottles of Mercouri Estate Red 2010, PGI Letrina, which achieved €428 compared to an initial estimate of €160.

The auction also found buyers for its three most valuable lots, all originating from Skouras Estate: the large-format bottles of Megas Oenos 2002 (3L), Megas Oenos 1997 (6L) and Megas Oenos 2001 (9L), which were sold for €1,101, €2,324 and €3,180 respectively.

Commenting on the House’s first Greek wine auction, Andreas Vergos, Managing Director of VERGOS Auctions, stated:

“Yesterday’s enthusiastic response confirms that Greek wine has now established a clear identity and holds significant growth potential in the secondary market. These results reflect the confidence of wine lovers, collectors and professionals in both high-quality, age-worthy Greek wines and in the reliability of our House, which once again introduces something new to the auction landscape.”

Allwinestories attended this first auction on Sunday, December 14, at the welcoming Papagiannakos Estate, which was impeccably organized by Vergos Auctions. We would like to express our sincere gratitude to Ms. Nantia Argyropoulou, Public Relations Manager at Vergos Auctions, for inviting us to this very important event for Greek wine.