Sotheby's $13 million auction shows Hong Kong is still the fine wine capital
The legendary 1989 Pétrus was among the fabulous wines auctioned from two major collections
As regular readers of Paul Fraser Collectibles will know, Hong Kong has long-been evolving into an establish hub for fine wine investments.
And its status as the wine capital of the East has been further consolidated thanks Sotheby's latest wine auction. In the end, the sale netted more than HK$100m ($13m).
Sotheby's actually held two auctions, including the cellar of collector Marcus D Hiles, and the sixth instalment of the cellar of an unnamed "Great American collector".
The latter collection sold for HK$57.3m or $7,388,330 (with the cumulative total of the collection currently standing at HK$266m ($34,298,400)).
Both sold out in their entirety; making this the latest of nine consecutive Sotheby's wine auctions to have been 100% sold out in 18 months.
Many of the usual suspects emerges as highlights in the sale, include the Chateau Pétrus of which a number of first growths brought significant prices.
Three double magnums of the 1989 Pétrus reportedly led the charge, selling for HK$726,000 ($93,611). This sum was nearly double their high estimate.
Other highlights included a case of 2005 Romanée-Conti from the Hiles cellar. The lot brought highest price at HK$1.8m ($232,094) - 50% above its upper estimate.
Other vintages in the auction's 'top ten' included a number of DRC wines, among them older vintages of Romanée-Conti and La Tâche from 1999 and 2005.
Sotheby's next Hong Kong sales are on October 29 and 30 - with the former comprising Lafite vintages from 1869 to 2009 direct from the château.
- Click here for all the latest Wine, Whisky and Spirits news
Recent and related articles...
· Revealing the fine wine collections of the inimitable Lloyd Flatt | 6 October 2010
The eccentric New Orleans resident who believed great wines were simply to be enjoyed
Château Mouton also makes an appearance alongside classic drams from The Macallan and Bowmore
Following their $8.76m East meets West sale, the auctioneer presents another spanning the globe
· Perfect Pétrus 1961 goes down well at Sotheby's weekend wine sale | 27 September 2010
The auction house's New York sale was dominated by the tiny Bordeaux vineyard
· $1,900 bid wins lucky wine collector the 100-point 1982 La Mission Haut Brion | 25 September 2010
Given top marks by Robert Parker, three bottles of the 'massive' 1982 sold for a bargain at Leland Little