Christie's "Marathon" Hong Kong/New York Wine Auction Totals $11.2 Million

Top Lot, 60 Bottles Of Château Mouton Rothschild, Sells To Latin American Buyer For HK$960,000 (US$123,456) A Latin American buyer walked away with the top lot in Hong Kong: 60 bottles of Chateau Mouton Rothschild (Image: Chinese artist Xu Lei's 2008 label) This weekend, Christie's held a 36-hour, trans-Pacific wine auction "marathon" in Hong Kong and New York, selling a combined grand total of US$11.2 million worth of wine and, in the process, observing two important developments in the global wine auction market: the bounce-back of the American market and the deepening of interest in older vintages and more diverse bottles among Asian collectors. While the New York portion of this auction went far better than expected, pulling in a total of $2.9 million -- more than $1 million over its pre-sale low estimate -- Hong Kong's Finest & Rarest Wines “A Tour of Bordeaux: Exceptional Wines from The SK Networks Collection” and “Superb Collection of Rare Pétrus and Mature DRC” sales totaled $8.2 million (HK$64 million). While Chinese collectors purchased seven of the top 10 lots in Hong Kong, the top lot -- 60 bottles representing 60 years of Château Mouton Rothschild from vintage 1945 to 2005 -- sold to a Latin American buyer for HK$960,000 (US$123,456). According to David Elswood, Head of Christie's International Wine Department, "The sales in Hong Kong over the two days of 9 and 10 April demonstrate a growing diversification in Asian buyers’ collecting tastes and buying habits. In addition, the New York sales on April 9th show a healthy comeback for the U.S. market. Together these overall results prove that demand for wines of the highest quality and provenance remains very strong around the world, and Asia remains a fast-moving and increasingly sophisticated market.” As Robin Kelley O'Connor, Head of Wine for Christie's Americas, added after the auctions, a great deal of cross-over bidding was seen between the New York and Hong Kong sale clients. "As expected," O'Connor noted, "the market remains particularly buoyant for blue-chip Bordeaux and Burgundy. '82 Lafite was strong as always, but it was '61s that reigned supreme, with sold cases of Lafite, La Mission Haut-Brion, Latour and Haut Brion selling for high prices." Charles Curtis, MW, Head of Wine for Asia at Christie's, confirmed the interest in older bottles and an emerging interest in rare Burgundies (a trend previously profiled by Jing Daily), in particular vintages from Romanée-Conti and La Tâche. The top 10 lots at Christie's Hong Kong: 1.) 60 Years of Château Mouton Rothschild : 60 bottles, Vintage 1945 – 2005, sold to Latin American private buyer for HK$960,000 (US$123,456) 2.) Richebourg – Vintage 1985 (6 bottles): sold to Asian private buyer for HK$540,000 (US$69,444) 3.) Château Lafite-Rothschild – Vintage 1982 (12 bottles): sold to Chinese private buyer for HK$492,000 (US$63,271) 4.) Château Lafite-Rothschild – Vintage 1982 (12 bottles): sold to Chinese private buyer for HK$480,000 (US$61,728) 5.) Château Lafite-Rothschild – Vintage 1982 (12 bottles): sold to Chinese private buyer for HK$480,000 (US$61,728) 6.) Château Lafite-Rothschild – Vintage 1982 (12 bottles): sold to Asian private & trade buyer for HK$468,000 (US$60,185) 7.) La Tâche – Vintage 1962 (one jeroboam): sold to Chinese private buyer for HK$456,000 (US$58,642) 8.) La Tâche – Vintage 1978 (six magnums): sold to Chinese private buyer for HK$456,000 (US$58,642) 9.) Château Lafite-Rothschild – Vintage 1982 (12 bottles): sold to Chinese private buyer for HK$456,000 (US$58,642) 10.) Romanée-Conti – Vintage 1990 (three bottles): sold to Chinese private buyer for HK$444,000 (US$57,098)

Christie's "Marathon" Hong Kong/New York Wine Auction Totals $11.2 Million

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Published April 11, 2011

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Christie's "Marathon" Hong Kong/New York Wine Auction Totals $11.2 Million