Sotheby’s leads Asian wine market

Auction house Sotheby’s says it is currently the dominant force in the Asian market, with total sales so far this year in excess of HK$400 million.

The auctioneer has reported total sales of HK$407m (US$52m), having sold 4,481 lots at an average price of HK$90,750 (US$11,500).

Its most recent sale from 29-30 September featured two private collections and made HK$113m (US$14.5m), with a case of 1961 Latour, 1982 Le Pin and an 18-litre ‘Melchior’ of 2010 Cheval Blanc among the highlights.

Adam Bilbey, head of wine for Sotheby’s in Asia, commented on the sale: “We were privileged to offer two distinguished private collections – The Towering Bordeaux Collection and The Wonderful Cellar of an Important Asian Collector – both of which performed superbly and contributed to an impressive total of HK$262 million (US$33 million) for five single-owner collections held by Sotheby’s in Hong Kong this year. We are indebted to our knowledgeable and wine-loving audience in Asia, whose deep appreciation for Bordeaux and Burgundy, not to mention whisky, has helped place Sotheby’s in a leading market position in the region.”

Speaking more generally of Sotheby’s results so far this year, Jamie Ritchie, worldwide head of wine, added: “The Asian wine market is the strongest and most exciting in the world with the greatest appetite for the very best wines and spirits. In addition to our focus on offering the best single-owner wine collections, we have expanded to offering the world’s greatest spirits and were particularly delighted with the prices achieved for The Macallan 50 Years Old direct from the distillery and a collection of Kweichow Moutai, from the world’s most valuable liquor company, marking the first time a Western auction house has offered the highly coveted Chinese liquor in Hong Kong.

“We are witnessing blockbuster demand for whisky and spirits throughout Asia. We now look forward to our New York auctions on 13 October, the stars of which are a collection of rare DRC from the Personal Cellar of Robert Drouhin and The Macallan 1926, ‘60 Year Old’, Sir Peter Blake Label, distinguished by the highest estimate for any bottle of wine or whisky ever offered by Sotheby’s.”

Leave a Reply

Your email address will not be published.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

Subscribe to our newsletters

Customer Services Administrator

Speciality Drinks
London, UK

Group Stock Analyst

Berkmann Wine Cellars
London, UK

Sales Operations Executive

Enotria Winecellars Ltd
London, UK

Global Head of Trade Marketing

Atom Brands
Tonbridge, UK

Brand Manager - NPD & Go to Market

Maverick Drinks
London, UK

Brand Manager Marketing Entry Level

Distell International Ltd
London or Glasgow

Brand Manager - Maternity Cover

Hatch Mansfield
Ascot, Berkshire

Finance Manager

The Benevolent, the Drinks Industry Charity
London

Customer Service Executive

Berkmann Wine Cellars
London, UK

Pink Rosé Festival

Cannes,France
7th Feb 2019

IBWSS UK

London,United Kingdom
11th Mar 2019
Click to view more

Fortified Masters 2018

Deadline : 23rd November 2018

The Global Riesling Masters 2018

Deadline : 26th November 2018

Click to view more

The Global Beer Competition

Find out this competition results !

The Global Syrah Masters 2018

the drinks business is proud to announce The Global Syrah Masters 2018.

Click to view more