Christie’s raises $11m in 36-hour wine sale

12 April, 2011

Christie’s has conducted a 36-hour wine auction in Hong Kong and New York, with sales totalling US$11.2m.

The Hong Kong sale of ‘finest and rarest’ wines raised US$8.2m (HK$64m).

Entitled A Tour of Bordeaux: Exceptional Wines from The SK Networks Collection, the lots included a collection of Rare Pétrus and Mature DRC.

The 'top lot' was 60 bottles of Château Mouton Rothschild from vintage 1945 to 2005, which sold for US$123,456 (HK$960,000).

David Elswood, head of Christie's international wine department said: "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."

The New York sale of 'fine and rare' wines, which featured selections from Paul Mann and Lake Placid Lodge, achieved US$2.9m, more than $1m over its pre-sale ‘low estimate’.

The top New York lot was a case of 1945 Latour which sold for $72,000 and, according to Christie’s, was the highest price realised for the wine since the world record in 2007.

Elswood said: "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 remain very strong around the world, and Asia remains a fast-moving and increasingly sophisticated market."

Robin Kelley O'Connor, head of wine for Christie's Americas said: "We saw very strong sell-through rates in the New York portion of this weekend's 36-hour wine sale marathon, with much cross-over bidding between our New York and Hong Kong sale clients.

“As expected, 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.”





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