Fine and Rare Wines: Pristine Rarities from the Cellar

Christie’s sales of Fine and Rare Wines: Pristine Rarities from the Cellar and Vintage European Treasures on Saturday, 8 September 2012 totalled HK$ 42,316,604/ US$ 5,454,610, and was 97% sold by lot and 98% sold by value.

Charles Curtis MW, Head of Wine for Christie’s Asia commented, “We are thrilled with the success of our autumn season’s opening sales.  Results across the board exceeded our expectations. Incredible energy and excitement filled the saleroom as buyers vied for top lots of supreme quality and provenance. There were active bidders participating not only onsite in the salesroom, but also over the telephone and through Christie’s LIVETM. The first of the two back-to-back sales achieved a 100% sold rate, and was led by three exceptional collections of Bordeaux wine.  The Château Mouton-Rothschild, Lafite-Rothschild and Latour were each represented by a pristine vertical with vintages ranging from 1945 to 2008, the Mouton achieving HK$ 1,080,000, the Lafite at HK$960,000, and the Latour for HK$ 864,000.  Competitive bidding ensued over Burgundies from both Domaine de la Romanée-Conti (DRC) and older claret, indicative of an increasingly discerning group of buyers with clearly defined collecting tastes.

Our single-owner Vintage European Treasures sale that followed immediately achieved robust results of 98% sold by value.  This significantly larger and more diverse sale was led by Pétrus, with a case of 1990 selling for HK$ 420,000, followed by an assortment of 1985 DRC that achieved HK$ 288,000.  Other key highlights of the sale included strong results for classic wines hailing from Italy and Spain.  We look forward to an excellent series of sales this November at the Hong Kong Convention and Exhibition Centre”.

Simon Tam, Head of Wine for Christie’s China added, “The results of the September 8 sales in Hong Kong confirm several industry observations. Wine lovers are seeking quality wines for short to mid-tem cellaring, and to serve as perfect gifts in time for festive occasions surrounding the Mid-Autumn Festival. The market in Greater China is becoming increasingly sophisticated every sale as buyers grow progressively knowledgeable about grape variety and provenance, and develop a keen interest in the culture surrounding wine. This widened appreciation has lead buyers to refine their palates and selectively bid for classic Bordeaux vintages, rare wines from Burgundy, and bottles from revered regions such as Condrieu, Hermitage, Rioja, to name a few. We anticipate that this heightened sophistication, the underlying trend characterizing this market, will only continue to prosper.”