Sotheby’s two-day sale reaps rewards

7th October, 2012 by Euan McKirdy

Three sales in two days gave auction house Sotheby’s cause for celebration this weekend, with strong results showing that the market is yet to decline in Hong Kong.

Oct 6, 2012: Jamie Richie, President, Asia & Americas, Sotheby’s, as auctioneer

The sales, which took place over 5-6 October, were the most successful two-day sales for Sotheby’s this year. The sale reaped a 2012 record HK$73.6 million (£5.9 million), bettering the estimate of HK$73m (£5.8m).

The standout lot was a collection of nine bottles of Romanée Conti, 1990, which reached HK$1.7m (£136,000), while other notable sales included a Methuselah of Romanée-Conti, Domaine de la Romanée-Conti 1999 which went for HK$857,500 (£69,000), topping its HK$600,000-$1m (£48,000- £80,000) estimate, and a superlot of Bordeaux first growths, including 12 bottles of each of Château Latour, Château Lafite, Château Margaux, Château Haut-Brion and Château Mouton Rothschild 2009 which sold for HK$673,750 (£54,000), far above its expected HK$400,000-$550,000 (£32,000-44,000) estimate.

All the top lots were successfully bid upon by Asian private collectors, with the exception of a Balthazar of Barolo Monfortino, Riserva 1961 Giacomo Conterno which went to a UK trade bidder.

The sale represented 84.7% sold by lot, and 91.3% sold by value.

“The two-day sale achieved HK$73,571,051 (£5.9m), the highest total for a two-day sale at Sotheby’s Hong Kong in 2012,” said Robert Sleigh, head of Sotheby’s Wine, Asia. “There was fierce competition for the rarest wines in the world with Domaine de la Romanée Conti, Henri Jayer and Screaming Eagle leading the way.

“In particular, buyers from all over Asia drove DRC prices to record levels this weekend, with 59 lots selling for a total of HK$9.2m (£736,000), 30% over the high estimate.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

UK Brand Ambassador - That Boutique-y Gin Company

That Boutique-y Gin Company
Tunbridge Wells, Kent, UK

Senior National Account Manager – Grocery (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Senior National Account Manager – Wholesale RTM (Craft Spirits)

Maverick Drinks
Tunbridge Wells, Kent, UK

Digital Marketing Manager

Master of Malt
Tunbridge Wells, Kent, UK

Experienced On Trade Sales Person

Borough Wine Imports
London, GB

3 x Business Development Executive

The Lakes Distillery Company Limited
Newcastle head office and nationwide, UK

Editor

Master of Malt Ltd
Tunbridge Wells(Kent)

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Brand Manager

Hallgarten Druitt
Luton, UK

Experienced On-Trade Salespeople Required

Portal Wines and Spirits
London, UK

Purchasing and Sales (Wine Trader)

JF Tobias
London, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Cambridge / Peterborough / Bedfordshire, UK

The Global Merlot Masters 2017

Deadline : 17th April 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 14th April 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more