Caveat emptor is a phrase that should, for many reasons, be firmly embedded in the head of anyone attending an auction; for one thing, it's too easy to get carried away and bid much more than one intended, then there's also the question of provenance and authenticity (aspects very much to mind as I've just finished The Billionaire's Vinegar, the as yet unfinished story of alleged fake bottles of 18th century claret).

It's not often that the caveat is on the other foot, but after the recession-beating results of last week's Cape Winemakers' Guild auction, an event I was unfortunately unable to attend, some deep soul-searching needs to be undertaken by the organisers of the Nederburg Auction.

With overall turnover down by 16%, it can hardly have celebrated its 35th anniversary. Even worse and less-publicised news was the  wine unsold: 15% of the total, including 651 cases of red (a whopping 73% of those on offer) and, more tellingly, given its current popular status, 197 cases of dry white (22%). In contrast, every last drop of the CWG offerings was snapped up at record prices; the grand total of R5 204 400 showing a healthy 5% increase on the 2008 auction.

With this disparity, it's less of a question of quo vadis the Nederburg Auction rather quo vadis members of the CWG who also offer wines on Nederburg. This year CWG members with wines on both events were from Jordan, Neil Ellis, Cape Point, Simonsig and Boplaas; older wines on Nederburg, younger on the CWG.

The track record of each of the above producers suggests their wines mature well, so should command a higher price than younger vintages. But this was not reflected in the results: for instance, the Jordan CWG Chardonnay 2008 reached a high of R366.67, while the Nine Yards 2006 on Nederburg scraped R250; while the Sophia 2007 commanded a top price of R583.33, Cobblers Hill 2004 managed a high of only R233. It was the same story for each of the CWG members. It doesn't matter that the wines aren't exactly the same.

More than damaging the image of each of the producers involved, it can't do brand South Africa any good.

What are their feelings about the results of these two auctions; will they consider participating in Nederburg next year? I put these questions to participating CWG members.

Gary Jordan expressed surprise that there was a Nederburg Auction at all this year, as he reckoned it looked like folding two years' ago but surmised they wished to hold on until after the 35th and 350th year of Cape Wine. (To my mind, it was never the same after auctioneer Patrick Grubb MW retired). While admitting that the 'sold at the Nederburg Auction' might still attract the average winelover, Gary maintains many more individuals will attend and buy from the CWG auction, now the lots are structured to attract individuals, as happened this year. As for participating in the  2010 Nederburg Auction should there be one, he says they don't have sufficient wine but believes they should anyway focus on servicing their important customers.

Cape Point Vineyards' Duncan Savage, who was 'very chuffed and could not have wished for better prices' for his CWG wine, says the whole CWG message is about exclusivity. 'The CWG has a focus and a plan,' he says, which includes far more interaction with the public and stricter selection criteria.

Savage intends to concentrate on the CWG in future; older vintages may be sold from the new tasting room due for opening in November 2009.

Of course, there are many other high profile producers who aren't members of the CWG who offer wines on Nederburg; I wouldn't be surprised if they don't feel the same about prices and their future participation.

I attended the first Nederburg Auction, the first of many; they were well-organised, prestitious occasions that even the Napa Valley auction used as a benchmark when that event started.

I'm very sad that it has lost all that gloss; can it be restored? It would need a total re-think on the part of Distell, Nederburg's parent company, and I'm not sure the will or possibly the ability is there. Perhaps it is now the right time to bring down the auctioneer's gavel on the event.