Heritage's 'first foray into Asia' with wines could bring over $3m

paulfrasercollectibles

2015-06-26 12:22:20

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Heritage's 'first foray into Asia' with wines could bring over $3m

Since wine duty was reduced from 80% to 40%, auction houses are flooding to the 'new mecca'

The stellar cellar of a northeast gentleman is expected to bring in the range of $3,000,000 when it comes under the hammer on May 6 at Heritage Auctions in Beverly Hills - whilebeing simulcast online at the SHORE Bar & Restaurant in Hong Kong on the morning of May 7.

The auction's simulcastmarks Heritage's first foray into the Asian auction market, led bytwelve bottles of Chateau Lafite Rothschild 1982 estimated at more than $40,000, along withsix more magnums of Chateau Lafite Rothschild 1982 which also carry an equal estimate of $40,000 or higher.

"The simulcast to Hong Kong is an exciting development in the future of Heritage Auctions and especially the wine department," said Frank Martell, Director of Wine Auctions at Heritage.

"Having spent a lot of time in the Hong Kong wine community since hosting the first auction after the duty was reduced, it has always been a priority for me to bring Heritage's high level of service to what has become the Mecca of the wine world in recent years.

"The passion and demand on behalf of the Asian wine community is well documented, so it was a logical move; expect to see us around Asia for quite some time," he said.

Meanwhile a double magnum of Romanee Conti 1978, Domaine de la Romanee Conti, continues the amazing offerings, carrying the same $40,000-plus estimate. Appearing with a slightly lower estimate are three magnums of Chateau Petrus 1961,set at $37,500.

Watch this space for further news on the sale.

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