Record prices at Cape wine auction

THENEDBANKCape Winemakers Guild auction, one of South Africa’s biggest wine sales, sold cases on Saturday at record prices about 10 percent higher on average than the previous year, with hotelier Tsogo Sun Holdings the biggest buyer. The single-day auction, which took place at the Stellenbosch Winelands, about 35km outside Cape Town, raised R11.82 million, according to a statement by Cape Winemakers Guild. That was lower than in 2014, as there were 264 fewer cases, the company said. This year’s show auctioned 55 wines, including 34 red, 17 white, three Méthode Cap Classique and one dessert wine. Tsogo, South Africa’s biggest hotel and gaming company, was the biggest customer for the second consecutive year with total purchases of more than R2m, according to the statement. – Bloomberg