Henry Tang’s Wine Sale Fetches HK$50.2 Million at Christie’s

Henry Tang’s wine collection fetched HK$50.2 million (US$6.4 million) at Christie’s, surpassing an original HK$30 million estimate as collectors competed for rare Burgundy.

The October 10 auction lasted 13 hours, with 80% of lots selling above their high estimates, according to Christie’s. The headline total was about 67% higher than the original estimate, although the comparison includes a distinction: the sale total includes buyer’s premium, while the estimate excludes it.

A magnum of Domaine de la Romanée-Conti’s Romanée-Conti 1971 led the sale at HK$875,000 (US$111,500). An imperial bottle of the estate’s La Tâche 1996 fetched HK$687,500 (US$87,607).

Christie’s reported strong results across Burgundy, Bordeaux, Champagne and the Rhône, highlighting wines from Henri Jayer, Domaine de la Romanée-Conti and Leroy. Bidders participated from Asia, the Americas and Europe.

The sale also drew a substantial contingent of younger collectors. Almost half of buyers were millennials or members of Generation Z, Christie’s said. Of that group, close to 70% were new buyers, although the auction house did not specify whether they were new to Christie’s overall or to its wine auctions.

For the wine trade, those figures offer a glimpse of the buyers competing for established names at the top end of the market. The results demonstrate demand for Tang’s collection, though a single sale does not establish a broader recovery in fine wine prices.

Adam Bilbey, Christie’s global head of wine and spirits, attributed the response to the wines’ quality and provenance, as well as Tang’s standing among collectors. He said the collection had been assembled over more than five decades.

“We are delighted by the outstanding result achieved for ‘The Cellar of the Hon. Henry Tang’, which was 100% sold and attracted enthusiastic participation from collectors across Asia, the Americas and Europe,” said Bilbey. “The strong response from collectors is a testament to both the exceptional quality and provenance of the wines and the esteem in which Mr Tang is held within the global wine community. “

“Collecting wine has been one of the great passions of my life, and I am truly thrilled by the tremendous response from collectors around the world to this sale,” Tang said.

He added that the collection had brought him lasting friendships and memorable experiences, and expressed the hope that its new owners would enjoy and share the wines.

The auction opened Christie’s celebrations marking the 60th anniversary of its wine and spirits department. Further sales are scheduled in New York, London and Hong Kong.