$120,000 Romanee-Conti 'highlights the investment potential of fine wine'

paulfrasercollectibles

2015-06-26 12:28:28

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$120,000 Romanee-Conti 'highlights the investment potential of fine wine'

Bonhams has held its strongest ever wine sale at London's New Bond Street, totalling $1.5m

Enthusiastic bidding from international buyers resulted in a superb result at Bonhams' Fine Wine Sale on July 7, which realised over 910,000 ($1.5m) with 93% sold by value.

Top price was for a case of 12 bottles of 1988 Romanee-Conti which sold for 74,750 ($120,000) to a UK buyer. Six bottles of 1985 Romanee-Conti sold for 50,600 to a South American buyer and a case of 1966 La Tache sold for 16,100, this time to a North American buyer.

One of the highlights of the sale, a collection of fifty-nine bottles of Chteau Mouton Rothschild, from 1945-2004, sold for 52,900. The label for each vintage of the wine was designed by a famous artist of the day, including Picasso, Dali, Warhol and Miro.

Other top lots of the sale included current market favourites, Chateau Mouton Rothschild and Chateau Lafite Rothschild - a dozen bottles of 1959 Chateau Mouton Rothschild sold for 18,400 and five cases of Chateau Lafite Rothschild 1986 each sold for 16,300. Also included in the top ten lots, was a case of 1982 Petrus which sold for 43,700.

Bonhams Wine Sales have grown dramatically over the last two years on the back of a very strong market.

Richard Harvey M.W., Head of Bonhams Wine Department, said, "This is a fantastic result - our best sale ever at New Bond Street.

"The broad base of buyers, and their geographical spread, from Europe, the Americas and the Far East, indicates that stability should remain in the fine wine market and contradicts talk of a bubble. Sales of 2010 Bordeaux at higher prices than older vintages should help reinforce this position.

"We sold a case of the 1988 Romanee Conti in 2010 for 42,550 which highlights the investment potential of fine wine."

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