How Did Panama Geisha Become the Most Expensive Coffee Beans?
A 7-pound lot of honey-processed Panama Geisha from Elida Estate sold for $6,034 per pound at the Lamastus family's private auction on September 6, 2022, setting a new record for the most expensive coffee beans. The Aguacatillo lot was grown above 2,000 meters and drew joint bids from Oklao Specialty Coffee, Clay Coffee Collective, The Espresso Lab, and Black Gold Specialty Coffee, totaling $42,238.
The wider auction moved 1,762 pounds of Panama Geisha across 24 lots from Elida, El Burro, and Luito, netting $601,000 at an average of $341.24 per pound. a reliable of Panama top lot auction follows on October 7, and attention now turns to whether that event pushes the highest coffee price even higher than this record.
The 2022 BOP results were just announced not long ago, and the Lamastus family's independent auction has once again broken the global record for the most expensive coffee. The Aguacatillo lot from Elida Estate, just 7 pounds of honey-processed Geisha, sold for $6,034 per pound, totaling over $42,000. The entire auction of 1,762 pounds of Geisha brought in a total of $601,000. Meanwhile, the 2022 BOP top lot auction will kick off on October 7, and whether it can break the record again is drawing close attention. Front Street Coffee will also continue to track the price developments of this top-tier Geisha.
Over the past decade or so, Panama Geisha has always been a hot topic in the coffee world. Every year, which estate wins the Geisha category of the Best of Panama green coffee competition (BOP), and the auction prices of Panama Geisha green coffee, keep many coffee lovers eagerly waiting.
Three-quarters of 2022 has already passed, this year's BOP results have been announced, and some estates' independent auctions have also concluded one after another. And the price of the world's most expensive coffee has once again been rewritten!
The well-known Lamastus family, in a recent independent auction, broke the world record for the most expensive coffee at a price of over $6,000 per pound.
This Lamastus private auction, handled by the Sensible Coffee auction house, was held on Tuesday, September 6, Panama local time, and presented 24 lots in total, respectively from three estates under the Lamastus family: Elida, El Burro, and Luito.
According to data released by Lamastus Family Estates, this auction sold a total of 1,762 pounds of Geisha, with net income reaching $601,000, at an average price of $341.24 per pound.
The top lot of this auction came from the Aguacatillo lot of Geisha at Elida Estate, with a winning bid as high as $6,034 per pound. According to the official website, this lot of Geisha was grown at the highest point of Elida Estate, at an elevation of over 2,000 meters, with a yield of only 7 pounds, using the honey processing method.
The joint bidders who ultimately won this lot include Oklao Specialty Coffee, Clay Coffee Collective, The Espresso Lab, and Black Gold Specialty Coffee. They acquired this 7-pound lot of honey-processed Geisha for a total price of $42,238.
Auction organizer Sensible Coffee, speaking about this record-breaking coffee, said the entire auction lasted more than 7 hours, and we witnessed the historical highest record for coffee auction prices being broken once again!
In an Instagram post reviewing this auction, Lamastus Family Estates wrote: "We sincerely thank everyone who participated in the auction, as well as every colleague in the industry, who are all part of this important milestone. Most importantly, the brand value of Panama Geisha has also been enhanced with this achievement."
The record for the most expensive green coffee in 2021 was held by Panama Nugu Estate. At last year's BOP auction, an anaerobic-processed Geisha from Panama Nugu Estate, scoring 94.75 points, sold for $2,568 per pound, totaling 100 pounds, with a total price of $256,800.
The rankings of the 2022 BOP competition were announced in early August, and the auction will officially begin at 7 a.m. Beijing time on October 7, when the price of the BOP top lot will also be finally revealed. Front Street Coffee will also continue to follow the auction developments of this top-tier Geisha and bring you the latest news.
Image source: Internet
The above content is compiled by CoffeeHunters, a coffee news website.
