Spectrum Wine Auctions dazzled bidders in Hong Kong on June 25 and 26 at its largest sale to date since launching in July 2009.
|Young wine auctioneer Spectrum introduces itself|
Guests entered the newly built 118-story gem of Hong Kong, the International Commerce Center (ICC), passing by Rolls-Royces and Ferraris parked at the entrance, arriving to an auction room filled to capacity.
The Spectrum team matched the splendor of the space by offering the packed room of bidders tastes of rare wines such as 1989 Chateau Haut Brion, 1995 Chateau Latour, 2004 Chateau Ausone, 1986 and 1990 Chateau Mouton Rothschild, and 2007 Domaine de la Romanee Conti La Tache.
Bidding was fierce on both days as collectors vied for prized lots from collections with impeccable provenance.
Richard Brierley, current Head of Fine Wine at Vanquish Ltd. and previous Head of North American Wine Sales at Christie's, presided as auctioneer.
The Summer 2011 Auction realized $7.5m (HK$58.3m) against a pre-sale estimate of $7m, selling 94 percent of the 1,994 lots on offer.
Over 65 percent of lots were awarded to Asian bidders. Spectrum Wine's Summer 2011 Internet Auction, which closed on June 30 and featured wines from the same consignments as the live sale, brought in an additional $566,165 (HK$4,404,933) for a combined total of over $8m.
Bordeaux attracted the most interest, with large-format bottles making a surprise return to the forefront of collectors' attention.
The top performing lots were driven by provenance and condition, and buyers proved willing to pay a premium for wines coming from the auction's three extraordinary single-owner collections: "The Aubrey McClendon Collection Part V," "The Pennsylvania Underground Collection," and "A Major General's Collection."
Top lot status went to 12 bottles of Chateau Lafite Rothschild 1982 in its original wooden case at HK$604,598 (US$77,675), having been estimated at HK$380,000 (US$50,000).
A wonderful 37-year Chateau Mouton Rothschild vertical spanning 1970-2005 also easily doubled its HK$170,000 (US$22,500) listing to bring HK$395,310 (US$50,787). This should make an excellent alternative investment for the new owner.
"Our prices realized and sell-through rate confirm our strong relationships with collectors," says Spectrum Wine Auctions President Jason Boland.
"Our dedication to connecting the world's top wine buyers with our consignors has made Spectrum Wine Auctions one of the world's largest and leading wine auction houses in a very short time period."
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