Grape Wall of China

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DRC in the PRC: Rare Burgundy is top drop at Hong Kong auctions

Posted on | October 4, 2011 | No Comments

Sold! At rmb80 per millilitre... (Photo: Sotheby's Wine)

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By Jim Boyce

Given the number of billionaire wine aficionados who read this blog, I feel a post on the Hong Kong auction scene is long overdue. Two recent sales show Burgundy’s Domaine de la Romanée Conti to increasingly be the new darling while traditional sweetheart Chateau Lafite still performs well, particularly when it came to large-format bottles.

From Spectrum, which reports that its two-day auction — held October 1 and 2 — pulled in nearly USD6 million.

The star of the two-day auction was rare Burgundy, with Domaine de la Romanée-Conti leading in the auction’s top lot sales. A total of 80 lots of Domaine de la Romanée-Conti estimated at US$830,000 (HK$6,461,467) sold for US$1,084,821 (HK$8,445,223). A lot consisting of three magnums of 1985 Domaine de la Romanée-Conti Romanée Conti, sold for US$89,625 (HK$698,000) against a pre-sale estimate of US$50,000 (HK$390,000).

Meanwhile, at the same sale, 12 bottles of 1961 Château Mouton Rothschild went for a mere US$32,863 / HK$256,000.

And from Sotheby’s Wine, which reports that its two-day auction — held October 1 and 2 — raised USD13 million:

Serena Sutcliffe, M.W., International Head of Sotheby’s Wine, said: “Sotheby’s Wine Department’s philosophy of selling great collections has proved to be a strong attraction for wine lovers worldwide, and Asians particularly appreciate the care taken in sourcing wines of impeccable origin and condition. Classic examples today were the top-flight châteaux from The Bordeaux Winebank Collection and the Lafite direct-from-the-cellars sold by family members, both inspiring complete client confidence. Wines from Domaine de la Romanée Conti continue on their upward trend as connoisseurs recognise their rarity and unique quality.”

The top price? A case of 12 bottles of 1988 Romanée Conti went for USD116,346 (HKD907,500). For those of us living in Beijing, that works out to just over rmb80 per millilitre…

Category: Jim Boyce

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