hong kong wine auction

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.

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Most Expensive Wine Sells At Auction In Hong Kong

by Deidre Woollard (RSS feed) —

Filed under: Wine, Auctions

Over the past couple years we've seen wine auction prices in Hong Kong rise and rise. A new level was achieved this week when three bottles of Châteaux Lafite-Rothschild 1869 sold at a Hong Kong auction by Sotheby's for an astounding hammer price of $232,692 a bottle (a total of $698,076). That makes these the most expensive bottles of wine ever sold at auction. The entire sale of treasures direct from the legendary Chateau Lafite brought in a total of $8.4 million, tripling the pre-sale high estimate of $2.5 million. Every lot was sold, adding to the success of Sotheby's Hong Kong in maintaining the tenth consecutive 100%-sold wine auction in Asia in the last 18 months. It is only auction house to achieve this record.

The sale featured 284 lots of Lafite, as well as the other chateaux owned by Domaines Baron de Rothschild, all with direct-from-the-cellar perfect provenance. Before being shipped to Hong Kong, these bottles never left the cellars in which they were placed immediately after being made.

Baron Eric de Rothschild, owner of Chateau Lafite, said: "I am delighted that this unique auction brought Lafite to so many true connoisseurs and wine lovers. Our aim was to open our cellar doors to the friends of Chateau Lafite in Asia so that they could enjoy fabulous vintages in the best possible condition. We are very happy that Sotheby's took Lafite to new heights with this sale and we toast all those followers of Lafite who appreciate the passion with which we make it."

[via The Wealth Report]

Tags: chateau lafite, Chateau Lafite-Rothschild, hong kong wine auction, most expensive, most expensive wine, sothebys, wine auction