Christie’s “Marathon” Hong Kong/NY Wine Auction Totals $11.2 Mil

on 18/04/11 at 11:01 am

Wine

Top Lot, 60 Bottles Of Château Mouton Rothschild, Sells To Latin American Buyer For HK$960,000 (US$123,456).

Last weekend, Christie’s held a 36-hour, trans-Pacific wine auction “marathon” in Hong Kong and New York, selling a combined grand total of US$11.2 million worth of wine and, in the process, observing two important developments in the global wine auction market: the bounce-back of the American market and the deepening of interest in older vintages and more diverse bottles among Asian collectors. While the New York portion of this auction went far better than expected, pulling in a total of $2.9 million — more than $1 million over its pre-sale low estimate — Hong Kong’s Finest & Rarest Wines “A Tour of Bordeaux: Exceptional Wines from The SK Networks Collection” and “Superb Collection of Rare Pétrus and Mature DRC” sales totaled $8.2 million (HK$64 million). While Chinese collectors purchased seven of the top 10 lots in Hong Kong, the top lot — 60 bottles representing 60 years of Château Mouton Rothschild from vintage 1945 to 2005 — sold to a Latin American buyer for HK$960,000 (US$123,456).

According to David Elswood, Head of Christie’s International Wine Department, “The sales in Hong Kong over the two days of 9 and 10 April demonstrate a growing diversification in Asian buyers’ collecting tastes and buying habits.  In addition, the New York sales on April 9th show a healthy comeback for the U.S. market.  Together these overall results prove that demand for wines of the highest quality and provenance remains very strong around the world, and Asia remains a fast-moving and increasingly sophisticated market.”

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