Sotheby’s Hong Kong wine auction nets 100% sales and $43m total

paulfrasercollectibles

2015-06-26 12:35:14

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Sothebys Hong Kong wine auction nets 100% sales and $43m total

Led by Petrus 1990 and Latour 1982, the wine sale exceeded expectations, selling every last drop

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At the week-end, Sotheby's concluded The Sale Of The Classic Cellar From A Great American Collector Part VIII with absolutely storming results - 86% of the lots sold above pre-sale estimate.

It was a 'white glove' sale, meaning that 100% of the lots were sold

Robert Sleigh, Head of Sotheby's Wine, Asia, commented after the sale:

"The eighth part of The Classic Cellar from a Great American Collector brought the total sold from this collection to HK$333m (US$43m), confirming it as the highest-value single-owner wine collection ever sold by Sotheby's.

"Large format was the major feature of today's auction and it shows the growing sophistication of the Asian market that 100% of the 457 oversized bottles (3-litre or larger) were sold."

Serena Sutcliffe, M.W., International Head of Sotheby's Wine, added:

"This was a milestone auction as it marked over 10,000 consecutive lots sold since Sotheby's began wine sales in Hong Kong, a reflection of the quality of the collections we offer for sale and Sotheby's far-reaching contacts throughout the wine drinking world.

"Today's sale was also the 16th white glove, 100% sold wine auction in a row for Sotheby's in Hong Kong, an all-time 'first'.

"This is a true feat and a remarkable accomplishment for two of our principal wine auctioneers, Jamie Ritchie and Robert Sleigh, who are now being fed both congratulations and Champagne!"

The top lot in the sale was a 12 bottle set of Chteau Ptrus 1990 listed at HK$320,000-460,000 but selling for HK$338,800 (US$43,436). It was followed by two sets of six magnums of Chateau Latour 1982 which sold for the equivalent of $40,333 - all to Asian private collectors.

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