One 6-litre Methuselah of DRC Romanée-Conti 1999 doubled its previous estimate and was sold for over HK$2.1 million (US$272,100), as part of the Sotheby’s three-day wine auction that saw fierce bidding and stunning results.
The three-day auction consisting of two single owner collections and its fine and rare sale brings above-estimate total of HK$177 million (US$23 million) in sales, “an exceptional result which marks the third highest-value wine sale series ever held in Asia”, the auction house announced.
The results are encouraging especially in times of uncertainties with coronavirus pandemic and Hong Kong’s social unrest, as Sotheby’s Asia Wine Director Adam Bilbey previously remarked that the results will be “a barometer” for the fine wine auction market this year.
Speaking of the auction results, Bilbey says, “We were delighted to pick up the gavel once more in Hong Kong and bring it down on a three-day series of unmissable wine sales, not least the two outstanding private collections which we were privileged to have been entrusted with.
“As we have seen time and again, great wines with great provenance have a proven track record, and even in these times of concern, our expectations were exceeded. With intense bidding from collectors in Asia, with whom we are hugely grateful, we hope this sets a trend for another successful sales season for Sotheby’s in Hong Kong,” he added.
‘The Summit’, a collection from the cellar of an American wine collector, fetched over HK$123m (US$16 million), exceeding its high estimate of HK$111 million. Domaine de la Romanée-Conti continued to reign supreme, dominating the top prices, with the top lot being the 6-litre Methuselah of DRC Romanée-Conti 1999.
‘Magnificent Bordeaux From the Cellar of Sir Dickson Poon’ recorded HK$19 million in sales (US$2.5 m), proving that demand for mature Bordeaux is still bullish. The top lot from the sale is a 12-bottle case of Petrus 1970, sold for HK$297,600(US$38,387).
‘The Finest & Rarest Wines and Spirits’ netted HK$35 million (US$4.5illion) in total.
“The combination of the presentation of the two exceptional Single Owner sales, the total sales of HK$177m, and the 50% of lots that sold over the high estimates puts Sotheby’s in pole position as the clear market leader in the region, with a long-standing reputation for sourcing the world’s top wines from the most prestigious collections,” commented Jamie Ritchie, Worldwide Head of Sotheby’s Wine.
The auction was held at HKCEC from July 5 to 7.