Henry Tang, the former Hong Kong official who helped lay the foundations for the city’s duty-free wine trade, is putting more than 800 lots from his private collection up for auction at Christie’s next month.
The October 10 sale at Christie’s Asia Pacific headquarters at The Henderson in Hong Kong will feature Burgundy from Domaine de la Romanée-Conti and Henri Jayer, Bordeaux’s first growths, and wines from Champagne, California, Spain, Italy and Australia.
It will also open celebrations marking the 60th anniversary of Christie’s wine department.
Highlights include a magnum of Henri Jayer’s Vosne-Romanée Cros Parantoux 1996, estimated at HK$180,000 to HK$260,000, and a magnum of DRC Romanée-Conti 1995, estimated at HK$160,000 to HK$220,000.
It’s worthy to note that Christie’s has published estimates for selected lots but has not disclosed an overall presale estimate in its announcement.
The offering draws on more than five decades of collecting. According to Christie’s, many of the bottles have remained under single ownership and have been carefully cellared for decades.
“After more than fifty years of collecting, there comes a moment to reflect on a cellar and recognise that wine has always been about sharing,” Tang said. “This collection represents a lifetime of discovery, friendship, and admiration for the remarkable winemakers whose wines have brought me so much pleasure.”
Tang said Christie’s anniversary celebrations offered a fitting occasion to part with some treasured bottles. “I sincerely hope these wines bring their new owners the same joy and inspiration they have brought me.”
Adam Bilbey, Christie’s global head of wine and spirits, highlighted Tang’s influence on generations of collectors.
“Few individuals have done more to shape and elevate the culture of fine wine collecting in Asia than Henry Tang,” he said. “Widely admired for his generosity, Mr. Tang has been a mentor, advocate, and friend to countless collectors and members of the wine trade.”
Tang’s role in Hong Kong’s wine trade
Tang’s influence also extended to the policies that helped establish Hong Kong as an international wine hub.
As financial secretary, he cut wine duty from 80% to 40% in his 2007 budget. His successor, John Tsang, abolished the remaining duty in February 2008, when Tang was serving as chief secretary, the second highest job in Hong Kong.
The reforms transformed the economics of importing and storing fine wine in Hong Kong. Government figures show that wine imports rose more than 80% by value year on year between March and December 2008.
The landmark removal of duty helped establish the city as a gateway to Asian wine markets and a major auction center alongside New York and London.
Wine, however, also became entangled with Tang’s political downfall.
An early favorite to become Hong Kong’s chief executive in 2012, he lost to Leung Chun-ying after a campaign damaged by scandals, including revelations of an unauthorized basement at his family’s Kowloon Tong property. Media reports described the space as including a wine cellar. The controversy helped turn the leadership contest against him.
His standing among wine buyers proved more resilient.
In March 2013, Christie’s sold all 809 lots offered from his collection for HK$48.05 million, or US$6.22 million, including buyer’s premium. Six magnums of DRC Romanée-Conti 1995 led the auction at HK$1.21 million, against an estimate of HK$700,000 to HK$1 million.
The sale also marked the first use of Prooftag Bubble Seal technology at a wine auction, according to Christie’s. Each bottle carried an identifying seal linking it to Tang’s collection, offering buyers an additional means of verifying provenance.
The forthcoming auction extends beyond the Burgundy rarities that led his earlier sale. Among the Bordeaux highlights are 12 bottles of Château Lafleur 1982, estimated at HK$240,000 to HK$350,000. A double magnum of Petrus 1990 is expected to fetch HK$140,000 to HK$190,000.
White Burgundy includes a magnum of Domaine Leflaive Montrachet 2000, estimated at HK$140,000 to HK$190,000.
Beyond France, a magnum of Screaming Eagle Cabernet Sauvignon 2006 carries an estimate of HK$30,000 to HK$40,000, while two magnums of Soldera Case Basse 2008 are estimated at HK$17,000 to HK$24,000.
All presale estimates exclude buyer’s premium.
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