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Your email address will not be published.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

Brand Ambassador – Santa Rita Estates

Santa Rita Estates
London or Hertfordshire but with flexibility to travel, UK

Sales Executive - Wine and Spirits Awards

The Drinks Business
Central London, UK

On-Trade Channel Manager

Delegat Europe Limited (UK)
London / Midlands, GB

Trade Marketing Analyst

Delegat Europe (UK)
London, GB

Key Account Executive

Delegat Europe Limited (UK)
London / Midlands, GB

Senior National Account Manager

Bibendum PLB
London, UK

ON-TRADE Sales Executive

Roberson Wine
London, UK

OFF-TRADE Sales Executive

Roberson Wine
London, UK

Judging Week Runners

Decanter World Wine Awards
ExCel Centre, London E16, UK

Sales Administrator

Les Caves de Pyrène
Guildford, UK

Retail Commercial Executive

Laithwaite's Wine
Theale, Berkshire

Wine Buyer

Conviviality Plc
Crewe, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Sales Account Manager - On-Trade

Berkmann Wine Cellars
M3/M4 corridor

Media Sales Manager - Hong Kong

The Drinks Business Hong Kong
Hong Kong

The Global Merlot Masters 2017

Deadline : 31st March 2017

The Prosecco Masters 2017

Deadline : 10th March 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 3rd March 2017

Click to view more

The Global Sparkling Masters

the drinks business is thrilled to announce the launch of The Global Sparkling Masters

The Global Rosé Masters 2016

the drinks business is proud to announce the launch of the Global Rosé Masters 2016.

The Prosecco Masters 2016

Now in its third year, the competition will reflect the growth in popularity of this fresh and exciting sparkling wine from the picturesque regions of Veneto and Friuli.

The Global Pinot Noir Masters 2016

After the success of last year’s competition that judged over 250 wines from no less than 16 countries, the drinks business is proud to announce the third year of the Global Pinot Noir Masters

Click to view more