Sotheby’s fall HK wine sales total over $11 million

Sotheby’s fall series of wine and spirits sales totaled over $11 million in a strong debut for their fall season here. A multivendor sale accounted for more than $4.9 million of the total (96.7% sold), led by 7 bottles of ’96 Jayer Cros Parantoux that earned more than $59,000 and 9 bottles of 1990 La Tâche that sold for more than $50,000. The sale entitled “Classic Cellar 2” also did well, earning more than $2.8 million, led by six bottles of 2000 Pétrus, which sold for $23,558. As Pétrus was the feature of this sale, the top twelve lots were all Pétrus. A single-owner focus, however, did not fare so well: the “Connoisseur’s Cellar” generated $2,814,792, but was only 83.5% sold by lot; the highest-grossing lot was a case of 1995 Jayer Cros Parantoux that sold for $65,962 including premium. Finally, the Asian allotment of the special “l’Odyssée d’un Roi” bottling of Rémy Martin Cognac Louis XIII sold for $190,000, as compared to the $135,000 that the same bottle earned in New York. The package includes the cognac in an engraved decanter from Cristallerie Saint-Louis in a trunk by Hermès and with a white gold pipette from silversmith Puiforcat. The next and final bottle will be sold in London on November 16th.

September 2016 wine auction recap

Executive Summary:

Bordeaux continues to strengthen; provenance increasingly important as single-owner and ex-domaine sales do very well; Burgundy trends are mixed but overall generally still positive.

Detail:

The fall auction season opened with a multi-vendor sale by Christie’s Hong Kong, led by rare wines from the library of Bouchard Père et Fils. The top-grossing lot in the sale was a case of ’88 Romanée-Conti that sold for more than $174,000, a vigorous result. The old property from the Bouchard cellar also did well, making 260% of the pre-sale low estimate. Chambertin 1865 sold for nearly $40,000 per bottle, and Montrachet 1865 sold for more than $25,000 per bottle.

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