Lafite Imperial World Record price set by 1996 vintage at Spectrum Wine Auctions

paulfrasercollectibles

2015-06-26 12:35:22

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Lafite Imperial World Record price set by 1996 vintage at Spectrum Wine Auctions

The Hong Kong fine wine sale achieved $6m and included a range of fantastic Burgundies

Spectrum Wine Auctions, a California-based auction house of fine and rare wine, realised nearly US$6 million (HK$46.5 million) at its latest live auction, held September 24 and 25 at the Grand Hyatt Hong Kong.

Lively competition amongst bidders in the room, as well as worldwide via telephone and Internet, resulted in 95 percent of the lots selling.

The star of the two-day auction was rare Burgundy, with Domaine de la Romanee-Conti leading in the auction's top lot sales.

A total of 80 lots of Domaine de la Romanee-Conti estimated at US$830,000 (HK$6,461,467) sold for US$1,084,821 (HK$8,445,223). A lot consisting of three magnums of 1985 Domaine de la Romanee-Conti Romanee Conti, sold for US$89,625 (HK$698,000) against a pre-sale estimate of US$50,000 (HK$390,000).

Domaine de la Romanee-Conti assortment cases also proved to be a hot commodity: a 1999 assortment case sold for US$41,825 (HK$326,000) against a pre-sale estimate of US$27,500 (HK$215,000) and a 2001 assortment case sold for US$26,888 (HK$209,000) against a pre-sale estimate of US$19,000 (HK$150,000).

Large formats, a highlight of the auction, also performed well. An imperial (6L) of 2005 Chateau Petrus with a pre-sale estimate of US$45,000 (HK$350,000) fetched US$59,750 (HK$465,000).

An imperial of 1996 Chateau Lafite Rothschild sold for US$19,120 (HK$149,000) against a pre-sale estimate of US$14,000 (HK$109,123), breaking the current record, according to The Wine Market Journal.

A magnum of 1985 H. Jayer Richebourg, sold for US$23,900 (HK$185,225), over $10,000 more than the pre-sale estimate of US$12,000 (HK$95,000).

"Our auctions truly are a global event, and we make every effort possible with our cutting edge Internet technology to bring the auction from Hong Kong into the living rooms and offices of our clients who are unable to make the trip," said Spectrum Wine Auctions President Jason Boland.

"This way our customers, no matter where they are in the world, will never miss their chance on any lot that goes up on the block."

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