Grape Wall of China

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Money flows like water: Acker Merrall & Conditt tops ~165 million with Hong Kong wine auction

Posted on | November 9, 2009 | 1 Comment

By Jim Boyce

Money continues to flow like water at Hong Kong wine auctions, with Acker Merrall & Condit reporting HKD39.15 million (USD5.05 million) in sales last Saturday and HKD165.81 million (USD21.4 million) for the year. The company’s press release states that 98 percent of the 1100 lots were purchased via sales room, email, phone, and absentee bids.

Sales included a reported world auction record for 1982 Chateau Petrus – a case of 12 went for HKD726,000 (USD94500). Other noted highlights: a case of 1982 Château Lafite Rothschild for HKD435500 (US$56000), a box of 1999 Henri Jayer Vosne Romanée Cros Parentoux for HKD387000 (US$50000), and 12 bottles of 1995 Krug Vintage Champagne Clos d’Ambonnay for HKD242,000 (USD31,266).

States John Kapon, the company’s president and auction director, “we plan to hold five to six major sales in Hong Kong next year.”

This year’s auctions have the international media giddy, though I have heard my share of scepticism from private observers about the nature of the situation. Look for several posts to soon appear on this issue.

Category: Jim Boyce

Comments

One Response to “Money flows like water: Acker Merrall & Conditt tops ~165 million with Hong Kong wine auction”

  1. Jonathan In China » Blog Archive » Notes from Changsha, Hong Kong
    November 18th, 2009 @ 3:43 pm

    [...] city is now certifiably the new center of the wine world.  If you want to auction off your case of 1982 Chateau Petrus, Hong Kong is the place to do it.  So, when I arrived in the city, in the concrete cave of a [...]

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