White Truffle Lot Fetched $100,000 at Italian Auction

White Truffle Lot Fetched $100,000 at Italian Auction

White Truffle Lot Fetched $100,000 at Italian Auction

A lot of around 0.86kg of White Truffles was sold for EUR 75,000 in a top Italian auction earlier this month.

The buyer from Hong Kong placed his winning bid via satellite at the World Alba White Truffles Auction at the Grinzane Cavour castle in Piedmont, northwestern Italy.

Isabelle Gianicolo of the National Truffle Study Centre noted that the auction price was “symbolic” and did not necessarily reflect the true market price, since the proceeds were donated to charitable causes.

Nevertheless, dry conditions this year had sent the market price soaring to Eur 6,000 per kilogram from EUR 3,000-4,000 euros last year, she said.

A recent drought influenced the quantity, “but not the quality of the truffles,” Ms. Gianicolo said.

“The situation has recently improved slightly, but it’s clear that it is not going to be a great year. There certainly are not going to be very large truffles up for auction, even if they are still very good truffles,” she said.

Alba has hosted Italy’s most famous White Truffle market, during which the auction is held, for close to 90 years.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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