Sotheby’s autumn season begins strongly in HKBy Rupert Millar
Sotheby’s autumn fine wine season got off to a strong start at the weekend in Hong Kong with two private cellars being sold for a combined HK$72.8 million (US$9.4m) which were both 100% sold.
The double-header sale included blue chip fine wines from two impressive private collections. Sotheby’s regional head, Adam Bilbey, said the results showed that even with the disruption to the sales calendar caused by the Covid pandemic, collectors in Asia have showed, “no sign of slowing down in their pursuit of the finest wines with exceptional provenance”.
The first session of the sale covered the wines of entrepreneur Joseph Lau, which realised HK$53m (US$6.8m) in total – more than double the pre-sale estimates.
The top lot was a 12-bottle case of 1990 Romanée-Conti which was sold for HK$3.7m (US$509,545).
The second session, featuring the collection of an anonymous consignor, realised HK$19.8m (US$2.6m) with more Burgundy, this time a 12-bottle case of 1998 Romanée-St-Vivant from Domaine Leroy, leading the way with a final hammer price of HK$812,500 (US$110,401).
As well as both being 100% sold, each collection saw well over 70% of their lots sold above their pre-sale high estimates.
Bilbey said: “It was a real pleasure to pick up the gavel again in Hong Kong so soon after our rescheduled spring sales. Today’s results mirrored the success of those sales, with collectors in Asia and beyond showing no sign of slowing down in their pursuit of the finest wines with exceptional provenance. To have swiftly brought to the market not one but two outstanding single-owner cellars, is testament to our leadership in sourcing stand-alone private collections of the highest quality.”