Chateau Petrus '82 sells for a record $94k in Hong Kong

paulfrasercollectibles

2015-06-26 11:41:29

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Chateau Petrus '82 sells for a record $94k in Hong Kong

The Chinese region is now rivalling London and New York as a hub for fine wines

A recent wine auction held inHong Kongby Sotheby's saw all but five of the 1,010 lots sell-out - bringing a combined HK$61.5m.

Most impressive was the record-breaking sale of a six-litre bottle of Chateau Petrus 1982, selling for HK$726,000 (or $94,000).

According to its seller, the Chateau Petrus smells of prunes and spices. The bottle sold to an unidentified Asian bidder after a heated bidding contest.

The remaining five lots were later sold at private auction, according to Sotheby's spokeswoman Rhonda Young, reports Bloomberg.

A bottle of Chateau Paris 1989 sold for HK$387,200, surpassing its estimate of HK$280,000.

However, according to one experienced collector, quoted by Bloomberg, the same wine recently sold for a 7% higher price in London.

Only one-out-of-every-100 lots were bought by non-Asians.

Increasingly, the Chinese are demonstrating a taste for top-grade vintages, particularly Bordeaux.

Mainland Chinese buyers led the bidding, followed by Hong Kongers, Taiwanese and Singaporeans. The lots went under the hammer with low estimates, apparently to attract new buyers.

The weekend's takingsfar surpassedSotheby's presale estimate of HK$47.8m.

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