With the hammer falling on almost 1,000 lots of fine wines and spirits, Sotheby’s Wine’s two-day series of sales in Hong Kong concluded today with a total of HK$97.8 million / US$12.6 million – surpassing the pre-sale estimate of HK$58 million / US$7.5 million.
This season’s results reinforce our leadership in sourcing the world’s finest private collections of wine, and when collectors are presented with the very best the market has to offer, they respond accordingly – as we saw with the sensational performance of the two, 100% sold, single-owner collections. Burgundy’s finest Domaines continue to be prized by the world’s top collectors and once again these sales re-affirmed that, with spectacular prices in particular for Henri Jayer, DRC and Leroy. The result this weekend strengthens our position as market leader in Asia and we are truly grateful to our clients who join us for every auction. We have several exciting sales lined up for the remainder of the year, and in Hong Kong we are looking forward to our single-owner online auction of spirits at the end of this month, and another private wine collection being offered in November.
WINES FROM THE CELLAR OF JOSEPH LAU (3 October)
This remarkable collection comprised the finest French wines from the cellar of the famed entrepreneur and art collector Joseph Lau. A pioneering collector across many fields, Mr Lau amassed one of the world’s most spectacular wine collections over several decades, focussing on the finest producers and vintages.
· Total: HK$53 million / US$6.8 million, smashing pre-sale estimate (est. in excess of HK$25.7 million / US$3.3 million)
· 78% of lots sold over high estimate
· 117 lots offered, 100% sold
· Top lot: 12 bottles of Romanée-Conti Domaine de la Romanée-Conti 1990, HK$3,750,000 / US$509,545 (est. HK$1,700,000 - 2,600,000 / US$200,000 - 320,000)
· Fierce bidding for wines by the legendary winemaker Henri Jayer, led by 1 magnum of Richebourg 1985 Henri Jayer sold for HK$1,875,000 / US$254,773
- 3 Methuselahs of Romanée-Conti (1996, 1999, and 2002) all doubled pre-sale estimates, selling for a combined total of HK$6,500,000 / US$883,211
THE FIVE-STAR CELLAR, ICONIC WINES OF IMPECCABLE PROVENANCE (3 October)
As the title suggests, the wines in this single-owner collection, featuring top-drawer Bordeaux and Burgundy, came with five-star provenance, having been purchased on original release and kept thereafter in professional storage facilities in the UK.
· Total: HK$19.8 million / US$2.6 million (est. in excess of HK$12 million / US$1.5 million)
· 75% of lots sold over high estimate
· 172 lots offered, 100% sold
· Continued demand for Burgundy, demonstrated by the top lot: 12 bottles of Romanée St. Vivant 1998 Domaine Leroy, sold for HK$812,500 / US$110,401 (est. HK$260,000 - 350,000 / US$32,000 - 45,000)
FINEST & RAREST WINES AND SPIRITS (4 October)
· Total: HK$25 million / US$3.2 million (est. in excess of HK$20 million / US$2.5 million)
· 92% sold. 704 lots offered / 646 sold
· Romanée-Conti took the top spot, with 5 bottles of Romanée-Conti 1982 Domaine de la Romanée-Conti, sold for HK$937,500 / $127,386 (est. HK$350,000 - 500,000 / US$42,000 - 60,000)
· The spirits selection was led by a bottle of The Macallan 65 Year Old in Lalique, 6 Pillars, Sixth Edition, which brought HK$500,000 / US$67,939 (est. HK$400,000 - 550,000 / US$50,000 - 70,000)
· A fine selection of Chinese spirit Kweichow Moutai was 100% sold, each lot achieving prices above their high estimates, led by 6 bottles of Kweichow Five Star Moutai 1997, sold for HK$162,500 / US$22,080