Premiere Napa Valley Wine Auction Reaches $3.3 Million, Surpassing Industry Challenges

Even amidst challenges in the wine industry, the 29th annual Premiere Napa Valley trade auction achieved remarkable success, raising a total of $3.3 million on February 22, marking a 10% increase from the previous year. This exclusive event, tailored for trade professionals, served as the platform for unveiling the 2023 vintage, featuring 194 unique lots specifically created for the auction.

The auction included many standout offerings, such as the collaborative “Old Friends” lot, a sparkling wine co-produced by Paula Kornell and Peter Mondavi Jr. The Napa Valley Vintners attributed the auction’s success to a broader selection of offerings, increased participation, and competitive bidding. The proceeds will support the association’s initiatives, aimed at promoting Napa Valley wines globally.

Despite ongoing uncertainties in the wine market—characterized by declining demand and a surplus of grapes—the atmosphere during the auction was one of optimism. Longtime vintner Doug Shafer, who sold Shafer Vineyards, commented on the balancing act necessary in tough times, highlighting the resilience within the community.

Among the significant sales, Simon Family Estate garnered the highest bid for a red wine lot, with sales ranging from 60 to 240 bottles, reaching a staggering $60,000. Collaborations from notable wineries like JennaMarise Wines, Robert Foley Vineyards, and Grgich Hills Estate also achieved impressive sales. The top white wines featured lots from Hudson, Schramsberg Vineyards, and the Kornell-Mondavi collaboration.

The white wines from the auction will start entering the market this fall, while the red wines will continue to age in barrels for up to three years before being released. The next Premiere Napa Valley event is scheduled for February 18-21, 2026, with winemakers Chris Phelps and Josh Phelps co-chairing the event.

For further information, visit Premiere Napa Valley.

About the Author: Chris Lehoux

Meet Chris Lehoux, an experienced wine connoisseur and dedicated blogger with a deep passion for all things wine-related. With years of expertise in the industry, Chris shares insightful wine reviews, valuable wine tasting tips, expert pairing advice, and captivating tales of vineyard visits. Join Chris on a journey through the world of wine, where every sip is an adventure waiting to be savored!