Sotheby’s is honored to present its inaugural dedicated online sale of Moutai in 2025—an exceptional event celebrating the heritage, artistry, and cultural significance of China’s most esteemed spirit. Featuring over 280 lots, this auction brings together a diverse and distinguished collection that will appeal to collectors and connoisseurs alike.

At the forefront of the sale are more than 30 lots of Aged Statement Moutai, with bottlings matured for 15, 30, and 50 years, offering a rare glimpse into the remarkable depth and evolution of flavor that define well-aged baijiu.

A true highlight of the auction is the first-ever appearance of the 2019 “Black” and “Gold” Dragon Flying Fairy Moutai, produced exclusively for the Macau Wine Collection Association. These ultra-rare 5-litre formats are presented as icons of both scale and prestige—an extraordinary acquisition opportunity for the most discerning collectors.

Further highlights include: The “Metal Cap” Moutai from 1987 to 2000, a beloved series renowned for its revered drinking quality; The “Ba Yi” Extra Moutai (2011 & 2016) commemorative editions, and The HK Friends of Moutai “Blue” and “Purple” Special Editions from 2016 to 2023 which are striking, limited releases emblematic of regional exclusivity and collector appeal.

This sale offers unparalleled access to some of the brand’s most iconic and collectible releases.

蘇富比隆重呈獻2025年首個貴州茅台網上專場，稱頌矜貴顯赫的中國茅台酒所代表之傳承智慧、釀酒工藝和文化底蘊。本場匯聚超過280項品類包羅萬有的貴州茅台，定能吸引一眾鑑藏家青睞。

本場領銜是逾30項精選茅台陳年酒，分別為陳年15、30和50年，讓人一窺珍稀茅台陳釀所呈現的非凡深度和風味演變。

拍賣焦點則落在首度亮相拍場的2019年產飛天牌貴州茅台酒（專供澳門名酒收藏協會）「黑龍」及「黃龍」5公升大瓶裝, 均極為罕見，突顯此酒的尊貴地位，實屬獨具慧眼的藏家購藏頂級珍品的不二良機。

其他亮點包括橫跨1987年至2000年的珍品「鐵蓋」貴州茅台酒，此系列以嚴謹工藝保證的高品質而聞名；2011年和2016年產「八一」特供陳釀及陳釀紀念版；2016年至2023年推出的國酒茅台香港之友協會專用茅台酒「藍茅」及「紫茅」，限量發行，非常矚目，彰顯地區特色和對貴州茅台酒愛好者之吸引力。

本場帶來多款甚具標誌性和收藏價值的精選茅台，機會千載難逢，茅台酒迷萬勿錯過。

SPECIAL NOTICES

Please note that bidders are required to provide government issued photo identification. For certain lots, deposits may be required. Sotheby’s has sole discretion to request deposits and cancel bids if requirements are not met by bidders.

請留意，競投人須提供由政府簽發並具照片的身份證明文件。競投人如出價競投某些拍品，須先提交定金。蘇富比全權酌情決定要求競投人提交定金，或在競投人無法符合要求的情況下取消其出價。

Under the law of Hong Kong, intoxicating liquor must not be sold or supplied to a minor in the course of business.

根據香港法律，不得在業務過程中，向未成年人售賣或供應令人醺醉的酒類。

The Hong Kong Tax has been fully paid on these lots, however, the buyer has sole responsibility for any transport costs and any duty or taxes when shipping the lot outside of Hong Kong.

本拍品在入口香港時已付清相關稅項，但買家須自行支付所有運輸費用、及運送拍品到香港以外地區所產生的關稅或稅項。

Please note: Sotheby’s cannot assist with international shipping of Wine & Spirits from Hong Kong auctions.

請注意： 蘇富比不會為在香港拍賣的洋酒及烈酒提供國際付運支援服務。

GLOSSARY OF ABBREIVATIONS

Ullages (Level of Wine or Spirit)

For bottles with defined shoulders the ullage/level is indicated, if applicable, by its relative position in the bottle.

Our interpretations are as follows:

u. - ullage/ullages (levels)

bn. - bottom neck; completely acceptable for any age of wine or spirit

vts. - very top shoulder; completely acceptable for any age of wine or spirit

ts. - top shoulder; usual level for wines or spirits over 15 years old

hs. - high shoulder; typical reduction through the cork, usually no problem

ms. - mid shoulder; usually some deterioration of the cork and therefore some variation

Example: (u. 3hs) means 3 bottles ullaged to high shoulder.

For Burgundy, German and other wines in bottles with sloping necks the ullage is indicated in

centimetres, measured from the base of the cork.

Example: (u. 2x5cm) means 2 bottles ullaged 5 centimetres.

Fully branded cork indicates the producer, vineyard and vintage are legible on the cork.

Branded cork indicates that the cork is branded with either the producer, wine and/or vintage being legible on the cork.

Sotheby’s does not indicate levels under 3 cm in the necks of the bottles inspected.

Parcel is a group of lots of the same type and quantity of wine.

Sotheby’s does not comment on either back labels or importer labels

Bottle Sizes:

hb. - half bottle

imp.pt. - imperial pint

hf.ltr. - half litre

bt 70 - 70cl

bt 50 - 50cl

bt 5 - 5cl

bt 1 - 1cl

bt(s). - bottle(s)

ltr. - litre

mag. - magnum

m-j. - marie-jeanne

d.mag. - double magnum

jero. - jeroboam

reho. - rehoboam

imp. - imperial

meth. - methuselah

salm. - salmanazar

balth. - balthazar

nebu. - nebuchadnezzar

melr. - melchior

Packing:

(cn) carton

(oc) original carton

(ot) original tube

(owc) original wooden case

(opc) original presentation

Case

(nop) no original packaging

(sc) Sotheby’s carton

(brl) barrel

(hgh) hogshead

(wc) wooden case

General

[ ] believed e.g. [1970] believed 1970

cm. centimetres

bt(s) bottle(s)

For assistance with bidding and registration, please contact:

enquiries@sothebys.com

+852 2524 8121

For all sale enquiries please contact:

George Lacey | George.Lacey@sothebys.com | +852 2822 5501

Director, Head of Wine, Asia

Paul Wong | Paul.Wong@sothebys.com | +852 2822 5541

Director, Head of Wine & Spirits, China

Jacky Chan | Jacky.Chan@sothebys.com | +852 2822 8173

Deputy Director, Senior Specialist, Wine & Spirits

Freeman Ho | Freeman.Ho@sothebys.com | +852 2822 5595

Deputy Director, Specialist, Spirits

Nicole Lui | Nicole.Lui@sothebys.com | +852 2822 5522

Specialist, Wine & Spirits