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News
Acker sale sees out record year
A Hong Kong sale by Acker Merrall & Condit witnessed the highest amount paid for a single lot in the world this year and affirmation of the auction house’s importance in Asia.
With three “superlots” of Domaine de la Romanée-Conti, Pétrus and Mouton Rothschild under the hammer, the sale made US$9 million and was 92% sold by lot.
The vertical of DRC, covering 1954 to 2007, was valued at US$600,000 to $800,000 and sold for $813,333 – the highest amount paid anywhere for a single lot this year.
The vertical of Mouton from 1936 to 2008 made $500,513 after a “highly intense bidding battle” and the Pétrus – from 1959 to 2007 – achieved $250,256.
Other top lots also centred on DRC: a case of 1962 Romanée-Conti sold for $203,333; a case of 1989 for $109,359; 1988 for $100,103 and a six bottle case of 1990 for $93,846.
John Kapon, CEO of Acker Merrall said: “2011 was a spectacular year for Acker Merrall & Condit. The amazing result of this sale is a fitting round-up of another record-setting vintage for Acker in Hong Kong.
“This year, not only will we acquire number one positions in the markets of Asia, America and the world, but also become the first wine auction house in history to break US$100 million in annual sales.
“Our tremendous success and continual lead in the global wine market has largely built upon the robust momentum of Hong Kong, now the world’s most important fine wine market.
“We are enthralled that another triumphant year in Asia is now ending on a high note with this remarkable sale, where we witnessed strong bidding for the star lots, especially over the vertical of Romanée Conti, which is now the most expensive wine lot sold in any auction anywhere this year.”
The result is a positive one for the US house as auction results this year have largely lagged behind those of 2010 and there have been concerns about the amount of wine now entering the Hong Kong market for auction causing a glut.