There's some good wine auction news out of Hong Kong. Bloomberg reports that a 12-bottle lot of much-prized 1961 Chateau Latour sold for a record price of HK$1.32 million ($170,320) at Christie's International first wine auction in Hong Kong in seven years on November 29. The amount was double the high-end of the pre-sale estimate of HK$650,000. They were bought by an Asian private collector. Two other lots of Latour 1961 were the second- and third-most expensive items at the auction. And the sale ratio was healthy on this one, out of 246 lots offered, 231 sold for a combined HK$31.5 million with many lots going above estimates. Wine seems to be fairing better than art at auctions recently, especially in Hong Kong. Around 90 percent of lots offered at Acker Merrall & Condit's Nov. 15 sale found buyers.Posts with tag hong kong
Wine Auctions Find People Are Still Buying In Hong Kong
There's some good wine auction news out of Hong Kong. Bloomberg reports that a 12-bottle lot of much-prized 1961 Chateau Latour sold for a record price of HK$1.32 million ($170,320) at Christie's International first wine auction in Hong Kong in seven years on November 29. The amount was double the high-end of the pre-sale estimate of HK$650,000. They were bought by an Asian private collector. Two other lots of Latour 1961 were the second- and third-most expensive items at the auction. And the sale ratio was healthy on this one, out of 246 lots offered, 231 sold for a combined HK$31.5 million with many lots going above estimates. Wine seems to be fairing better than art at auctions recently, especially in Hong Kong. Around 90 percent of lots offered at Acker Merrall & Condit's Nov. 15 sale found buyers.Omega Auctioning $1.5 Million Olympics Collection Trunk
Omega, the Official Timekeeper of the Olympic Games, is auctioning off a one-of-a-kind limited edition watch set in a bespoke black walnut trunk (above) that's expected to fetch up to $1.5 million. Known as the Unique No. 8 Collection and based on the Chinese concept of "lucky number 8", the rare and unique item is being offered at Sotheby's in Hong Kong today, with proceeds going to The Chinese Athletes Educational Foundation (CAEF).
The set is comprised of the eighth numbered piece of each of the 32 Limited Edition wristwatches in the Omega Beijing Olympic Collection, plus three Olympic Split Seconds Chronograph 1932 pocket watches, also numbered 008 in their limited editions of 100 pieces. The watches, including a set of split seconds open-faced chronographs in 18k yellow, white and red gold, are presented in a striking black walnut pagoda-style eight-drawer tower with intricate carving and a lacquered finish, paying homage to traditional Chinese architecture. Truly the ultimate Olympic collector's item.
The Balvenie Distillery Releases Exclusive Whisky
The opportunities to spend a lot on whisky just keep coming. For this one though, you'll have to fly to Hong Kong. The Balvenie Distillery has released 151 bottles from a single cask of The Balvenie, cask number 10378 from 1964, to be sold exclusively in Hong Kong International Airport. The whisky comes in a cherry wood box and each bottle is individually hand numbered. It was bottled exclusively for duty free retailer Sky Connection and sells for HK$108,000 ($14,200 U.S.) a bottle.The 10 Richest Streets in the World
The Times of London has come up with a new list of the world's 10 richest streets based on property prices. The most expensive street on the globe, unsurprisingly, is in ultra-rich Monaco - Avenue Princess Grace, to be exact, where average prices run about $17,000 per sq. ft. It's a pretty safe bet that anyone with an address there is a millionaire at the very least. In second place is Severn Road in Hong Kong's Victoria Peak district (above), where the average price is about $11,000 per sq. ft. Here are the rest of the runners-up:
No. 3 - Fifth Avenue, New York
No. 4 - Kensington Palace Gardens, London
No. 5 - Avenue Montaigne, Paris
No. 6 - Ostozhenka, Moscow
No. 7 - Via Suvretta, St, Mortiz, Switzerland
No. 8 - Carolwood Drive, Beverly Hills
No. 9 - Wolseley Road, Sydney, Australia
No. 10 - Altamount Road, Mumbai, India
Gallery: World's Richest Streets
Big Prediction for Asian Wine Market
Wine seems to be quickly claiming the title 'drink du jour' around the world and no where is this more apparent than in Hong Kong. Positioning itself to be the wine market hub of the east, just like London and New York are in their respective parts of the world, they are making it easier for individuals to purchase wine. Earlier this year they lowered taxes on the vinous beverage and with a subsequent boom in sales they decided to remove those tariffs all together! This tax abolition has market predictors claiming that the Asian Market will be worth $1.5 billion by 2017 with increased growth to $870 million in China's wine imports. No tax means lower prices which equals higher consumption and greater numbers purchasing higher quality wines. If only New York would go tax-free on wine -- or on gas, groceries and clothing...I can dream, can't I?
Christie's Wine Dept. Returns to Asia with Latour Sale
In November, London-based auction house Christie's will hold their first wine auction in Asia since 2001, featuring a landmark collection of 140 years worth of Latour sourced directly from the Château cellars. The first Château-sourced collection of the fabled Bordeaux ever to be sold in Asia will go on the block Nov. 29 in Hong Kong; the 150 Latour lots, including magnums and large format bottles from a wide range of vintages dating from 1865 - 2005, are expected to fetch over $1.5 million total.
One of the top prizes is a 1900 magnum estimated at $18,000 - $24,000. Christie's already has a strong showing in Hong Kong with art and antique auctions bringing in over $300 million in Spring 2008, the highest total ever achieved for an Asian season.
Gallery: Château Latour
A New Record In Hong Kong Real Estate
A new record has been set in Hong Kong real estate. The 80th floor penthouse of The Arch building in the Kowloon district has sold for $28.8 million making it the most expensive apartment per square foot ever sold in Asia at 41,000 Hong Kong dollars per square foot. In the building no floors start with 4, so you go from the 39th to the 50th floor in this building, there are actually 65 floor total (4 is bad luck in Hong Kong like 13 is here in the U.S.). The new owner gets a private swimming pool, a rooftop terrace and 5,497 square feet of space in this unique complex. The building also includes a fitness area, lounge, and pool areas starting at the 60th floor in the place where the two towers join.
Record-setting Truffle Makes One Pricey Meal
It may not be the prettiest food we've ever seen but the 750-gram (26-ounce) white truffle shown above, is one pricey delicacy. The "Queen Tartufo" Alba ttruffle recently was auctioned off for $208,000 and will be served at a banquet in Hong Kong. The truffle had been shipped from Alba in Italy's Piedmont region to Hong Kong for the charity auction which benefits Mother's Choice, a charity that provides care for pregnant women.
It's an expensive year for the truffle market. A bad truffle season in Alba has driven prices up to an average of $4,000 a pound with small truffles less than an inch in diameter sells for around $50. Luckily you don't need a lot of truffle to make an impact. A few thin shavings over pasta or an omelette can make a simple meal luxurious. Black truffles from Italy are a cheaper alternative at $500 a pound. Or you can always go American, Oregon white truffles can be found for $40 for three ounces. They aren't held in quite as high regard as Italian truffles but they are gaining in popularity and there is even an Oregon Truffle festival held in January.
A Wedding Dress with 4 Pounds of Jewels
Wedding dresses come in all shapes and sizes from sleek and stylish to large and marshmallow-like, and from hand-embroidered to mass-produced. And although jewels aren't that uncommon in small doses, what about 4 pounds of jewels? A designer in Hong Kong has created a wedding dress with 9,999 karats of jewels (that's a very deliberate number!) and it's on sale for over $130,000. It's beautiful but I personally wouldn't want a wedding dress with so many different colors, and I think for that price it might be more worth it to just get something custom-made -- I think I'd still be able to afford plenty of jewels.
Rare Blue Diamond Sets New Record
You are looking at one expensive stone, a 6.04 carat diamond that is Fancy Vivid Blue color and has Internally Flawless clarity. The stone sold in a platinum ring where it is flanked by two white emerald-cut diamonds for a grand total of $7.98 million at the Sotheby's Hong Kong auction. For comparison purposes, a 7.01 round white diamond from Blue Nile with G color and and IF clarity is listed at $386,927. The price is a new record to price per carat, a whopping $1.32 million which beats the previous record for a diamond known as the "Hancock Red" that fetched just over $900,000 per carat in 1987. The extremely rare diamond was picked up by Moussaieff Jewelers, which has a collection of rare gemstones include the Moussaieff Red, a rare red diamond.
Controversial Bronze Horse Expected to Go For $7.7 Million at Auction
The highlight of the upcoming 4 day Sotheby's auction in Hong Kong, scheduled to start on Oct 6th, will be a controversial bronze Qing Dynasty Horse head. It's one of a 12 zodiac animal set and was looted from the imperial summer palace in China back in 1860. The Chinese believe it should be returned to the Chinese goverment because it's stolen property, but Sothebys has no intention of giving it to anybody but the auction winner -- and the law is on their side. It's expected to go for HK80 million ($7.7 million).
All's fair in love and war, but it's too bad it's been separated from the other 11 zodiac animals.
Via BornRich
Celebrating Hong Kong's Handover In Style
Has it really been ten years since Hong Kong was handed back to mainland China? The Langham Hotel, Hong Kong has a package available July 1 through August 31 to commemorate the event. The package includes suite accommodations for two nights, a 15-minute helicopter tour of Hong Kong, a two-hour "Symphony of Lights" harbor cruise, dinner for two at T'ang Court, daily breakfast in either the Langham Club Lounge or L'Eclipse, complimentary use of the Langham Club Lounge, featuring evening cocktails and hors d'oeuvres and more. The hotel concierge can also arrange visits to the ten major sights new to Hong Kong in the last ten years such as Avenue of the Stars in Tsimshatsui, the International Finance Centre, Golden Bauhinia Square, the Wetland Park, the Star Ferry Pier, the Tsing Ma Bridge (connecting Lantau Island with New Territories) and Ngon Ping Village and Wisdom Path. The package starts at $1,997.
The Lord Lichfield Suite at the Mandarin Oriental, Hong Kong
The Mandarin Oriental in Hong Kong recently went through a sumptuous renovation that includes a gorgeous new suite named for Lord Lichfield, the photographer who shot the hotel's popular "She/he's a fan" ad campaign that has featured celebs such as Helen Mirren and Elle Macpherson. The suite was designed by Nicky Haslam, and has a black, silver and red look with a 1970s cool. The suite is decorated with black and white photographs, tripod-based lamps and a glass-topped coffee table contains Lichfield memorabilia, including contact sheets, keepsakes and even some of the miniature Tabasco bottles that he always carried with him.
New Fleet of Rolls-Royce Phantoms Arrive In Hong Kong
Our siblings at Autoblog report on the massive fleet of custom Rolls-Royce Phantoms which recently arrived at the Peninsula Hotel in Hong Kong. The Peninsula ordered 14 long-wheelbase Phantoms, each finished in Brewster Green with a tan stripe, Peninsula Hotel sill plates, an enlarged trunk, a coolbox for chilled towels, compartments for used towels in the doors, MP3 jacks for the rear seats and "No Smoking" plaques.If you are interested in staying at this sumptuous hotel, you may as well go for the top suite. The Peninsula Suite, which regularly makes lists of the most expensive suites in the world, has a private balcony with panoramic views of Victoria Harbor and Hong Kong Island, two separate sitting areas, a conference room, mini-gym, private office, harbor-view bathroom, three private washrooms, and a guest washroom, two separate dressing areas and a fully equipped kitchen and Butler's pantry. This amazing suite costs $42,000 Hong Kong Dollars (around $5,400 per night).
New Record for Asian Art
A new sales record for art sold in Asia was set when a woman at a Christie's Hong Kong auction paid $19.4 million (£10 million) for a small Qing dynasty bowl. Bizarrely, the woman's brother, who is known to have one of the world's best collections of Chinese art, offered the bowl at the auction. This brings up the question as to whether the woman and her brother planned for this to be the outcome of the auction, although why one would set out with the intent to set an auction bidding record remains to be seen. The woman said that she had not expected to buy the bowl; it was a "spur-of-the-moment decision" and that "[her] interest grew during the bidding process"
[Thanks, Lana!]
