South African Wine Prices Surge at Country's Biggest Auction

Sep 6, 2010

South African vintners raised 41 percent more money at the annual Nederburg Auction, the biggest of its kind in the country, as increased bidding reversed a two- year decline. Held on Sept. 3 and 4 in Paarl, 55 kilometers (34 miles) north east of Cape Town, income at the Nederburg Auction jumped to 5.68 million rand ($789,513) from just over 4 million rand a year earlier, according to a statement on the auctioneer’s website today.

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