Sotheby’s Hong Kong wine auction posts $8.2m sale
100% of lots sold at Sotheby’s Hong Kong wine auction, with Colgin Herb Lamb 2007 the star
Paul Fraser Collectibles, Monday 2 April 2012
After a spectacular recent sale in London, at which it recorded the company's biggest wine result in the UK for 15 years, Sotheby's continued in fine form in Hong Kong.
The two-day event featured two auctions - "The Classic Cellar From A Great American Collector IX", and "Finest & Rarest Wines, Including The Bordeaux Winebank Collection and Wines Direct From Château Angélus, Louis Roederer and Colgin Cellars."
This was the ninth auction to offer wines from the Classic Cellar From A Great American Collector, which has already established itself as the highest-value single-owner wine collection in Sotheby's history. Part eight of the sale, which took place in Hong Kong in October 2011, saw 100% of lots sold with 86% of lots sold for above their estimates.
The sale on Saturday (March 31) continued in a similar manner, with 100% of lots sold and a result of HK$20.0m ($2.57m). The second sale, featuring a selection of "direct from the property" wines, saw collectors vying for vintages from Château Angélus, Louis Roederer and the Colgin Cellars of Napa Valley, California. The two auctions combined for $8.2m.
"This was an exciting weekend of wine sales for Sotheby's in Hong Kong, bringing to Asia superb direct-from-the-cellar collections which wine lovers lapped up with great enthusiasm," said Serena Sutcliffe MW, international head of Sotheby's wine.
"Mature, classic Bordeaux, Burgundy and Champagne were a huge success, with California's Colgin Cellars flying to new heights."
Highlights included six bottles of Colgin Herb Lamb 2007, which soared past their pre-sale estimate of HK$12,000-16,000 to sell for HK$34,300 (US$4,397) and six bottles of Colgin IX Estate 2005, which more than trebled its high estimate of HK$12,000 (US$1,544) to sell for HK$36,750 (US$4,712).
Robert Sleigh, head of Sotheby's wine in Asia, commented: "Colgin Cellars confirmed its position at the pinnacle of California wines today and Asian buyers seized the opportunity to acquire these small production wines rarely seen in these quantities."
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