It's a vintage showing from 1961 Chateau Latour at $7.6m Hong Kong sale

paulfrasercollectibles

2015-06-26 12:25:03

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It's a vintage showing from 1961 Chateau Latour at $7.6m Hong Kong sale

Christie's Latour sale highlighted the popularity that the first growth holds among Chinese buyers...

A 131,544, 1961 vintage was the highlight of Christie's recent 4.6m Chateau Latour sale in Hong Kong.

The six-litre imperial more than doubled its estimate in an astonishing auction for the 1961 Bordeaux. The vintage took nine of the leading 10 positions at the sale, with all 10 ending up in Asian hands.

Wealthy Chinese investors have changed the shape of wine buying at auction in recent years. The world's second biggest economy is home to a growing number of wine lovers, with Latour always popular with those looking to invest in an alternative to stocks and shares.

Several 1961 Latours doubled their estimates at Christie's

The sale's wines came directly from Chateau Latour's cellars, which helped boost the prices, as Gary Boom, founder of London'sBordeaux Index,explains.

"The prices were encouraging but not surprising and shows how important the provenance is and how essential it is to buy from trusted and immaculate sources," Boom said. "Quite simply, when you have perfect provenance and a squeeze on supply then it's no surprise that prices reach these levels."

Boom added that other first growths and super seconds could also post impressive displays in following auctions.

Lots routinely doubled their estimates at the sale, with three, six-magnum lots of the 1961 achieving 66,000.

There was also a strong showing from a 12-bottle case of the 1945, which far surpassed its 56,000 estimate to achieve 122,148.

A case of the 1982 made 42,000, while more recent vintages again showed that they have investment potential, with a case of the 2009 selling for more than 13,000.

Meanwhile, plans are afoot for the British government to auction a bottle of Latour 1961 to raise funds for its wine cellar.

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