Sotheby’s Kick Starts Hong Kong Wine Auctions in 2010 with Record Breaking Sales

Sotheby’s hits big numbers in auction sales over the weekend in Hong Kong.

Sotheby’s first wine auction of 2010 at the Mandarin Oriental Hotel on 23 January 2010 fetched a record-breaking HK$52,921,770 or USD 6, 784, 842 – well above expectations.  The 10 hour auction saw buyers from Hong Kong, Mainland China and all over Asia bidding for 840 lots. This auction represents Sotheby’s highest total sales for a single day wine sale, with a 100% sell through.

It was interesting to see the trend of online bidders gaining significance, with 66% of the lots sold to online bidders not in attendance. Sotheby’s also reports that top lots were sold to private collectors and connoisseurs from Hong Kong, Mainland China and Taiwan.

Lots that fetched the highest prices were:

• Lot 474  Château Pétrus 2000, 12 bottles which sold for HK$411,400
• Lot 467 Château Pétrus 2005, 12 bottles which sold for HK$387,200
• Lot 506 Château Pétrus 506, 3 mags which sold for hK$363,000
• Lot 81, Château Lafite 1982, 1 imperial, 6 liter bottles achieved sale of HK$363,000
• Lot 153, Château Latour 1961, 1 jero-4.5 liter bottles sold for HK$338,800

Serena Sutcliffe, MW, Head of Sotheby’s International Wine department, commented that the Classic Cellar from a Great American Collector IV is the most important wine collection that Sotheby’s has ever offered at auction, and is a great start for Sotheby’s line-up of further Single Owner Sales scheduled for Spring and Fall in 2010.

Sotheby’s Hong Kong Wine Upcoming Auctions

• 3 April 2010  Single Owner Wine Sale
• 4 April 2010 Single Owner Wine Sale