1982 Chateau Pétrus wine stars in Christie's $1.2m New York auction
Two dozen rare bottles of the legendary 1982 Chateau Pétrus wine starred in Christie's New York sale
Paul Fraser Collectibles, Friday 27 January 2012
How are the 2012 collectible fine wine markets looking? Well, the prognosis is good according to Christie's results from its recent Finest & Rarest Wines of France auction in New York.
The sale, which took place on January 25, realised $1,180,658 in total sales. This total was bolstered by an impressive sell-through rate of 96% by lot and 91% by value.
Also of note is that each of the top lots sold to Asian private buyers; yet more evidence of Asian collector's growing love of, and influence in, the global fine wine markets.
The leading lot was a wine which often emerges as the biggest star in the world's top auctions, Chateau Pétrus. One dozen bottles of the legendary 1982 Pétrus brought $58,080, confortably within the lot's $42,000-65,000 pre-sale estimate.
Just behind it was the renowned 2000 Pétrus, which brought $45,980 within a similar pre-sale estimate bracket.
Rounding-off the top three wines with a 'bronze medal' was a Château Lafite-Rothschild lot. The one dozen bottles were sourced from the legendary 1982 vintage. They sold for $45,980 within their $35,000-45,000 pre-sale estimate.
"We were very pleased with the results of this special January addition to our wine sale calendar," said Robin Kelley O'Connor, Head of Wine for Christie's Americas.
"Our sell-through rates of 96% by lot and 91% by value indicate that the market remains strong, especially for a focused sale of this type that featured the very finest and rarest of top Bordeaux and Burgundy and Northern Rhône wines.
"The sale saw very active participation from Asian buyers - both private and trade - and from American collectors, who accounted for nearly 50% of the wine purchases by lot.
"Overall, the majority of wine prices performed within estimate or in some cases well above."
Christie's success at its Finest & Rarest Wines auctions points towards a great year for fine wines. Expect to see plenty of vibrancy in the wine auction market.
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