CHATEAU PETRUS

Andrew Lloyd Webber's Wine Collection Sells Strong In Hong Kong

Sir Andrew Lloyd Webber's wine collection achieved a strong result in a Sotheby's auction in Hong Kong on January 22. Part of Webber's cellar was sold in London by Sotheby's back in 1997 and took in $6.1 million. The current sale included lots of 10 cases of the first growths of the 2005 vintage, Petrus 2000, Cheval Blanc 1982, Domaine de la Romanee Conti La Tache, and Domaine Leflaive. Many of the older wines have been cellared at Sydmonton Court, his 16th century home in Berkshire, England Newer wines have been kept in professional storage.

The sale was estimated to bring in between $2.8 to $4.1 million but brought in 43.3 million Hong Kong dollars ($5.6 million), including the 21% buyer's premium. The Wall Street Journal reports that the six-hour auction, which took place at the Mandarin Oriental in Hong Kong, was filled to capacity. The top lot was a 1982 case of Château Pétrus (12 bottles) that went to an Asian buyer for $77,564. The WSJ article has a list of the top ten lots.

Tags: andrew lloyd webber, bordeaux, CHATEAU PETRUS, hong kong wine, hong kong wine auction, wine auction

Sotheby's Wine Auction Achieves Record Results

by Carrie Coolidge (RSS feed) —

Filed under: Wine, Auctions

Jamie Ritchie, auctioneer, presiding over a Sotheby's wine auction.

Sotheby's auction of fine and rare wines including the 2000 Collection on behalf of Bordeaux Winebank on November 13, was a huge success, signaling that the 2000 vintage is living up to its expectations.

Sotheby's sold all but two of the lots for a grand total of $5.4 million, well over the pre-sale estimate of $3.2 million to $4.6 million (estimates do not include the buyer's premium). Bordeaux Winebank's "2000" Collection set six wine auction records.

According to Sotheby's, there was also strong demand for wine from a number of other collections with strong prices for all of the First Growths as well as Burgandy, resulting in 64% of the sold lots achieving prices over the high estimate.

Online bidders were particularly active, with 15% of the lots sold to collectors bidding over the Internet. Nearly half of the lots offered received online bids and 55 people logged onto bid live online, which was the highest ever level of online participation in a Sotheby's Wine auction.

"We were delighted by the success of the sale---the highest value various owner wine sale ever held at Sotheby's New York," says Sotheby's Jamie Ritchie (above), Head of Wine, North America and a Luxist Awards Expert Panelist.

Gallery: Sotheby's Bordeaux Winebank 2000 Collection Auction

Tags: auction, awards-main, bordeaux wine, Bordeaux Winebank, chateau lafite, Chateau Lafite-Rothschild, chateau mouton rothschild, Chateau Petrus, Henning Thoresen, luxist-awards, Petrus, Sothebys, wine

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How to Care for Your Fine Wine Collection

by Carrie Coolidge (RSS feed) —

Filed under: Wine

chateau petrus Wine collections are growing, and so are their value, in many cases. Indeed, based on the results of a recent Sotheby's wine auction, held in Hong Kong in early October, the prices of collectible wines are breaking records.

One imperial (six litres) of Château Pétrus 1982 realized a world auction record price of $93,077, while a case (12 bottles) of Château Pétrus 2000 sold for $55,846. Three bottles of a 1992 Screaming Eagle Cabernet Sauvignon, a winery in Oakville, California, sold for $27,923.

If you have a wine collection, or if you are thinking of building one, here's how to care for your collection, according to the experts at Fireman's Fund Insurance Company's Wine Collector Management Services.

Keep an eye on your climate control
A temperature of 55 degrees Fahrenheit and a relative humidity of 60% to 65% are ideal for long term wine storage. The cool temperature slows the aging process, while the humidity prevents moisture inside the wine bottle from moving into the cork and eventually evaporating into the air. Keep in mind that ideal temperatures do vary somewhat depending on the type of wine you are storing. Attics and garages are not ideal places to store wine, as temperatures can fluctuate greatly in these locations.

Limit your collection's exposure to light sources
A dark room is best for wine storage. Fluorescent light is not believed to be harmful.

Wines should be kept in a stable environment
Vibration is harmful to wine, as it disturbs the sediment. Keep the bottles in a horizontal position.

Back up your power supply
Your wine collection could be at risk during a sustained power outage. A permanent back-up generator will help protect your investment.

Consider renting a storage space
If you lack adequate space to store your collection, professional wine storage facilities are available in most major cities.

Tags: chateau petrus, ChateauPetrus, luxist-awards, main-pedia, screaming eagle, ScreamingEagle, sothebys, wine, wine collection, wine-pedia, WineCollection, wines

Record Set at Hong Kong Wine Auction

by Tom Johansmeyer (RSS feed) —

Filed under: Spirits, Auctions, Art

chateau petrus Art and dinosaurs may not be moving at auction, but in a tough market, you can count on people drinking. Sotheby's nearly sold out its entire auction in Hong Kong Saturday, raking in HK$61.5 million (US$7.9 million) from 1,010 lots offered. Only five lots failed to find a home at the auction – and they were later sold privately. The result obliterated the presale estimate of HK$47.8 million.

Much of the action came because prices were relatively low, but there was plenty of room for upward movement. A 6-liter bottle of Chateau Petrus 1982 sold for HK$726,000 (US$94,000), setting a record. The buyer opted to remain anonymous.

A mere 1 percent of the lots went to buyers who were not Asian. Mainland Chinese were responsible for most of the buying, followed by bidders from Hong Kong, Taiwan and Singapore.

Hong Kong has carved out a place for itself at the top of the international wine auction market and is now providing competition to New York and London. Sotheby's and Christie's have been holding auctions in Hong Kong since February 2008, when the government nixed duties on wine.

The wine auction kicked off a week of gavel-pounding for Sotheby's, preceding a five-day auction of art and gems consisting of 2,300 lots. The estimate for the festivities is HK$780 million.

Tags: chateau petrus, ChateauPetrus, hong kong, HongKong, sothebys, wine, wine auction, WineAuction

Top 5 Wines for Investment via Vanquish Wine

by Laura Malesich (RSS feed) —

Filed under: Wine

As Wall Street continues to disappoint you may find yourself seeking alternative money-making strategies as opposed to stocks and bonds. While wine is obviously fine for enjoyment it can also act as a unique investment option. It's important to note that putting your money on fine wine does not incur a capital gains tax since it is considered a 'wasting asset' only expected to last fifty years. Your best bet is a first growth from the Bordeaux region and Vanquish Wine, a bespoke wine service for private clients, suggests these top five:

Chateau Petrus
Chateau Margaux
Chateau Latour
Chateau Mouton Rothschild
Chateau Lafite

Sounds like a bottle in the hand is better than a buck in the market.

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Tags: chateau lafite, chateau latour, chateau margaux, chateau mouton rothschild, chateau petrus, ChateauLafite, ChateauLatour, ChateauMargaux, ChateauMoutonRothschild, ChateauPetrus, vanquish wine, vanquish-wine, VanquishWine, wine investing, wine investment, WineInvesting, WineInvestment

Wine Fraud Fears Prompt Bordeaux Block

by Deidre Woollard (RSS feed) —

Filed under: Wine

Worries over potential wine fraud have started to hit the auction houses prompting the pulling of a pricey Bordeaux bottle. An Imperial of 1961 Chateau Petrus was expected to be auctioned off on Saturday by Edward Roberts International in Chicago. The single bottle was expected to bring in around $150,000. The auction house decided to withdraw the bottle from the auction in order to doublecheck the authenticity. The auction house has said they will put the bottle back on the block once all the documentation is in order. As more and more people see wine as an investment with possible big returns the stakes have been raised. Potential lawsuits such as the one filed by billionaire collector Wiliiam Koch may also be behind the increased scrutiny and the need to document the provenance of the investment bottles.

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Tags: auction, bordeaux, chateau petrus, imperial, wine, wine fraud

$150,000 For One Bottle Of Wine?

by Deidre Woollard (RSS feed) —

Filed under: Wine, Auctions

When it comes to the upper tiers of wine auctions there are wines you buy basically for the old bottles (the Jefferson wines fall solidly in this category) and then there are wines you open no matter how much they cost. The imperial bottle of French Grand Cru First Growth Château Pétrus, 1961 being auctioned off by Edward Roberts International at their October 28 auction falls into this category. The imperial (the size of eight standard bottles) of Bordeaux is expected to sell for up to $150,000.

The auction also includes 1921, 1947 and 1961 Chateau Petrus en Magnums and several prized vintages of Chateau Mouton-Rothschild including the 1945. California cults wines are also represented with selections from Screaming Eagle, Harlan and Scarecrow available. But the most visually striking selection from the auction has to be the Courvoissier Cognac Erte decanter collection shown above. You can bid online or in person at the auction at the Columbia Yacht Club in Chicago.

[via Blogging Stocks]

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Tags: auction, bordeaux, chateau petrus, red wine, spirits, wien

Wines Collected by Jacques Chirac To Be Sold

by Deidre Woollard (RSS feed) —

Filed under: Wine

Vintage wines that were collected by French president Jacques Chirac, while he was the mayor of Paris will be auctioned off this fall. The 5,000 bottles include several 1990 Château Pétrus and 191 bottles of 1976 Krug Champagne. The sale is expected to bring in over $630,000. The bottles are kept in the Hôtel de Ville and government auditors decided that keeping the expensive wine was a liability because of the price and the possibility that the bottles could be damaged by a flood. Also, the current regime just isn't drinking the way Chirac's crowd used to. Both the amount of wine consumed and the amount of money allocated to the wine budget have been drastically reduced. It's a pretty strong statement regarding the French attitude toward wine in light of the recent years of plummeting French interest in wine and resulting poor sales.

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Tags: chateau petrus, france, french wine, jacques chirac, JacquesChirac, krug champagne, wine

Pétrus at Sotheby's London Auction

by Gustad Mody (RSS feed) —

Filed under: Wine, Auctions

A recent Sotheby’s Fine & Rare Wines auction at New Bond Street, London ended yesterday. A particular sale that caught my eye was Lot 12, Chateau Petrus 1982. Hammer price was at about 23,036 US dollars. An ultimate collectors wine, Petrus comes from a small 28.4 acre vineyard named in honor of St. Peter. It is the only site where topsoil and subsoil are composed almost entirely of heavy clay rich in iron. Ironically clay is typically unsuitable for high-quality wines, as it tends to get water logged. Fermented in cement vats, the wine is aged in completely new oak barrels for 22 to 28 months, and right before bottling it is clarified with five fresh egg whites per barrel (they don’t filter). Sotheby’s notes of developed color with great character in the nose of prunes and spices. Licorice with sweet gummy definition and some sweet aniseed. Pruney finish with mocha as it lingers on the palate. At 10 bottles in the lot, average cost per bottle is $2,304.

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Tags: -Pierre Moueix, -pierreMoueix, CHATEAU PETRUS, ChateauPetrus, Christian Moueix, ChristianMoueix, Jean-Claude Berrouet, Jean-claudeBerrouet, La Fleur de Gay, Moueix, Pétrus, petrus, petrus wine, PetrusWine, Pomerol, red wine, RedWine, Saint-Émilion, vieyard, wine, wine tasting, WineTasting