Hong Kong two day wine sale is the second biggest ever with a total of $8.76m achieved

A two day sale of fine wine in Hong Kong has been branded a resounding success by American auctioneers Acker Merrall & Condit with an impressive combined sales total of £5,611,100 ($8,768,581) reached at the event.

Over 920 rare wine lots were up for auction over the course of the two day event which ran on September 17 & 18 and competition fierce for the rarest bottles with 100% of lots sold over two days to collectors in the salesroom and over the internet.

The "East Meets West" auction results also surpassed the sale's overall target figure by some 30% in what was a truly memorable event for all involved.

After the sale, John Kapon, President and Auction Director at Acker, said:

"The continued and increasing strength of our sales here in Asia highlight the increasingly sophisticated taste of wine collectors in Asia. The vitality and persistent strength of the growing economy in Hong Kong and China cannot be ignored."

The auction was conducted in two parts. The first, entitled "East" took place on September 17 at the island of Shangri-La. Here over 500 lots from the largest ever wine collection from a Chinese collector were offered with many "Top Ten" brands featuring.

The 1982 Lafite Rothschild sold
well at the event
The second day dubbed the "West" event took place at the Grand Hyatt hotel in Hong Kong and offered collectors some 400 lots from one of the greatest living collectors in the world, Dr. Wilfred Jaeger of the San Francisco area.

The two events did not disappoint with numerous familiar names from the Bordeaux region, proving their strength on the global wine investment market yet again.

The 1989 Chateau Petrus was amongst the memorable sales with a 12 bottle lot of the wine selling for $390,400 at the event.

Elsewhere, a 12 bottle case of the 1978 vintage of the La Tache Domaine de la Romanée-Conti (DRC) fetched £265,435 ($414,800).

Yet more impressive still, was the sale of two 1982 Bordeaux vintages. The first was a 12 bottle set of the Chateau Petrus Pomerol which sold for £343,504 ($536,800).

Going one better than that was the classic 1982 Chateau Lafite Rothschild which went for a final sale price of £374,731 ($585,600).

This sale demonstrated the continuing demand for the 1982 Lafite Rothschild which had previously exceeded its estimate at auction. This astonishing sale worked out at around £31,230 ($48,800) per bottle.

However, it was not the top lot at the two day event. That honour, instead went to a unique lot of 6 magnum bottles of the rare 1971 Romanee-Conti DRC which sold for a staggering £624,552 ($976,000).

The event was a true success, demonstrating the continued growth of the Asian wine market.

The next Hong Kong auctions held by Acker will take place in November and December and promise to offer similarly exceptional investment opportunities to collectors and enthusiasts alike.



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