Press Release

Sotheby's Rescheduled Spring Season of Sales in Hong Kong opens with Successful Series of Wine Auctions

By Sotheby's

Three-Day Sales Series brings above-estimate total of HK$177M / US$23M, marking the third highest total ever for a wine sales series in Asia, with 2600+ Lots Sold

Two Single-Owner Collections Exceed High Estimates:

The Summit, A Complete Cellar Achieves HK$123m / US$16m

Magnificent Bordeaux from the Cellar of Sir Dickson Poon Brings HK$19m / US$2.5m

Domaine de la Romanée-Conti Takes Top Spot:

1 Six-Litre Methuselah of Romanée-Conti 1999 Doubles Estimate to Sell for HK$2,108,000 / US$272,100

ENTHUSIASTIC BIDDING FROM COLLECTORS AROUND THE WORLD:

Nearly 90% of buyers placed their winning bids via phone, online and absentee bids, with almost one-third of buyers under 40 years old

Sotheby’s Wine resumed live auctions in Hong Kong with a three-day series of wines and spirits sales which concluded today with a total of HK$177,087,500 / US$22,857,789 – an exceptional result which marks the third highest-value wine sale series ever held in Asia.

Whether live or online, out of Hong Kong, New York or London, our sales this year have proven that the appetite for wine transcends geographical boundaries, as collectors across different time zones are prepared to place their winning bids by any means. The combination of the presentation of the two exceptional Single Owner sales, the total sales of HK$177m, and the 50% of lots that sold over the high estimates puts Sotheby’s in pole position as the clear market leader in the region, with a long-standing reputation for sourcing the world’s top wines from the most prestigious collections.
Jamie Ritchie, Worldwide Head of Sotheby’s Wine
We were delighted to pick up the gavel once more in Hong Kong and bring it down on a three-day series of unmissable wine sales, not least the two outstanding private collections which we were privileged to have been entrusted with. As we have seen time and again, great wines with great provenance have a proven track record, and even in these times of concern, our expectations were exceeded. With intense bidding from collectors in Asia, with whom we are hugely grateful, we hope this sets a trend for another successful sales season for Sotheby’s in Hong Kong.
Adam Bilbey, Head of Sotheby’s Wine, Asia

SALES OVERVIEW

THE SUMMIT, A COMPLETE CELLAR (5-6 July)

This extraordinary collection originated from the cellar of an American wine collector and was assembled over three decades through a deep passion for gastronomy, extensive travel, as well as the collector’s personal relationships with many top wine producers around the world.

· Total: HK$123m / US$16m (est. HK$78-111m / US$10-14m)
· 64% of lots sold over high estimate
· 93% sold. 1,534 lots offered / 1,424 lots sold
· Top lot: 1 Six-Litre Methuselah of DRC Romanée-Conti 1999, sold for HK$2,108,000 / US$271,911 (est. HK$1,000,000-1,400,000 / US$120,000-180,000)
· Domaine de la Romanée-Conti continued to reign supreme, dominating the top prices
· Leading the selection of Rhône wines was a case of Ermitage Cuvée Cathelin 1990, sold for HK$992,000 / US$127,958 (est. HK$850,000-1,100,000 / US$100,000-140,000)

MAGNIFICENT BORDEAUX FROM THE CELLAR OF SIR DICKSON POON (6 July)

These superb wines were presented from the private cellar of renowned international businessman, Sir Dickson Poon, whose close links with the United Kingdom allowed him to source great quantities of the finest Bordeaux from trusted UK merchants and auction houses including Sotheby’s, in original cases and in many instances, on release.

· Total: HK$19m / US$2.5m (est. HK$13-19m / US$1.7-2.4m)
· 98% sold. 498 lots offered / 489 sold
· Demand for mature Bordeaux, demonstrated by the top lot: A 12-bottle case of Petrus 1970, sold for HK$297,600 / US$38,387 (est. HK$170,000-240,000 / US$20,000-30,000)
· 12-bottle offering of Haut Brion 1961 exceeded high estimate to bring HK$235,600 / US$30,390 (est. $130,000-180,000 / $16,000-22,000)

FINEST & RAREST WINES AND SPIRITS (7 July)

· Total: HK$35m / US$4.5m (est. HK$28-39m / US$3.5-5m)
· 88% sold. 790 lots offered / 698 sold
· Burgundy took the top spot, with an 8-bottle offering of DRC Romanée Conti 2007, sold for HK$1,054,000 / $136,082 (est. HK$800,000-1,100,000 / $100,000-140,000)
· The spirits selection was led by The Macallan 60 Year Old in Lalique, 6 Pillars, which brought HK$744,000 / US$96,058 (est. HK$600,000-900,000 / US$75,000-110,000)
· A private collection of Moutai was 100% sold, totalling HK$2,131,560 / US$275,206, with all but one of the 22 lots achieving prices above their high estimates
· A bottle of the highly anticipated, recently released The Aqua of Life 50-Year Old 1969 sold for an above estimate HK$520,800 / US$67,240 (est. HK$280,000-400,000 / $35,000-50,000)

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