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Collectors Corner
A shiver of excitement and fear zapped through me when I saw the results of the latest cigar auction in London. Prices for collectible and aged cigars have sharply increased. I think we can now declare that the collectible cigar market is heating up.
I was one of hte bidders in this particular auction, remotely, and I lost every single lot upon which I bid. The prices in the pre-embargo category all exceeded the maximum estimated price in the catalogue. So with the bitter taste of losing, I drank my tea and lit a cigar. Is the market changing? Are more people getting into the hobby? Why did I lose so spectacularly? All these questions swirled around in my mind. Perhaps next time I should go to the auction in person. Then again, not being in the room forced me to be disciplined with my maximum bids. And after all, I couldn't go because I was attending an event in Havana! So, while I easily found ways to console myself, I thought about what's going on in the collectible cigar market. And this is my report.
SIGNS OF A HOT MARKET
Auction prices in 2012 rose considerably. The biggest auction now being held for collectible cigars is conducted by Mitchell Orchant's C.Gars Ltd in London. The most recent auction was in November and it offered a shocking number of hard to find and valuable cigars.
If you like Cuban Davidoffs and Dunhills, aged cigars of all kinds, limited edition humidors, and pre-Castro cigars, this is the auction for you. I need to say that there are some stores that sell these kinds of cigars. The advantage of shopping at a shop is that you can take your time and speak with the staff about where and how they were stored. But let's talk about stores in a moment. Back to the auction.
It featured more than 300 lots. Among them were Jars, Vintage, Mature, Limited Edition, Regional, and other types of cigars. Auctioneer Brian Ebbesen in collaboration with Mitchell Orchant set the guide prices (an estimate for low and high sales prices). Extraordinarily, a vast number of lots sold for more than their "high estimate." All the lots that I bid for exceeded the guide price.
- Cigar Journal
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