Burgundy dominates HK sale

2nd September, 2013 by Rupert Millar

Christie’s first autumn sale in Hong Kong got off to a strong start with Burgundy and Pétrus being both the star attractions and biggest sellers.

hong-kongIn total, the auction was 96% sold by lot and 97% by value, making HK$29,804,844 (£2,503,607).

The top lot were three magnums of 1969 Domaine de la Romanée-Conti Romanée-Conti, which sold for $427,000 – a little beneath the high estimate of $450,000.

Next came 10 bottles of the buyers’ other favourite Burgundy, Henri Jayer’s 2001 Vosne-Romanée premier cru Cros Parantoux, where the hammer came down at $427,000 too, this time well above the $380,000 high estimate.

It was a similar story for the third top lot, a case of 1989 Pétrus which was bought for $317,200.

The dominance of Burgundy (particularly DRC and Jayer) and Pétrus at auction is a trend that was seen earlier this year and has been gathering pace for the last couple of years.

Aside from those three wines, the only other estate in the top 10 was Cheval Blanc, three bottles of the fabled 1947 selling for $268,400.

Simon Tam, head of wine Christie’s China, said: “We witnessed strong international interests in today’s sale. Buyers from fourteen countries covering Asia, Americas and Europe participated in this single-owner collection, which was built up over decades by a passionate wine-collecting individual.

“We are pleased with the results of wines from Bordeaux and Pétrus. Over 94% of the wine from Pétrus, in particular, were sold above its estimate range. White wines and champagnes were also warmly welcomed with over 94% of those sold above its estimate range. This indicates the diversity of tastes, and the depth and width of the wine market.”

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