Asian wine investors boost Acker auction to $14.45m 2011 record

paulfrasercollectibles

2015-06-26 12:37:50

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Asian wine investors boost Acker auction to $14.45m 2011 record

Asian wine investors set more than 100 new world records in Hong Kong over the weekend

The year's largest-grossing wine auction took place in Hong Kong on Friday and Saturday (November 4 and 5), as Asian wine investors helped set more than 100 new world records.

The Acker Merrall & Condit auction achieved $14.45m, with 98% of lots sold, far exceeding pre-sale expectations.

It is evidence of the continuing popularity for the finest wines among the growing number of Chinese with disposable income to spend on desirable collectibles.

Part II of the Don Stott Collection of Burgundy generated immense interest from collectors all over the world, following the first part's superb sale in New York the previous week.

145 world auction records were set, including 23 records for Georges Roumier, 22 for Domaine Dujac, 17 for Domaine de la Romanee Conti and 13 for Louis Jadot.

Acker Don Stott Romanee-Conti 1990 Burgundy wineThe auction set 17 Romanee Conti world records

A Jeroboam of 1999 DRC Romanee Conti was the auction's standout lot, setting a world record price of $75,077, while a case of 1990 DRC La Tache achieved $68,821.

John Kapon, chief executive officer of Acker Merrall & Condit, commented: "Don Stott is the world's foremost collector of Burgundy, and his cellar is unchallenged for its great depth and diversity of Burgundy, even after this sale.

"The results are a testament to the growing demand for Burgundy in the international marketplace, also proving that Chinese wine lovers have diversified their interest and taste in wine appreciation and collecting."

The Wine Spectator Auction Index revealed that takings at Hong Kong wine auctions between April and June grew by 80% on the same period in 2010.

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