Lafite's `Godzilla' Tops Wine Auctions as Hong Kong Sales Boom

on 20/09/10 at 1:21 pm

Wine

Sipping Cristal champagne and 39 other blue-chip labels, New York wine lovers kicked off the autumn auction season at a two-night Acker Merrall & Condit sale on Sept. 10. They bid big, especially for Chateau Lafite and Romanee Conti, spending $4.9 million — a sign auction prices are still rising.

A more than 200-year-old bottle of Madeira. The bottle is Lot # 742 in a Spectrum Wine Auctions sale to be held on Sept. 24 at the Peninsula Hotel in Beverly Hills, Californian. It's one of two bottles recovered by divers in 1979 from a shipwreck off the coast of Savannah, Georgia. Source: Spectrum Wine Auctions via Bloomberg

“Lafite gets stronger each month, like a well-fed Godzilla,” said Acker’s John Kapon, as he headed off for the company’s two-day sale in Hong Kong on Sept. 17-18, which totaled HK$68.1 million ($8.8 million), the second-highest ever for a wine auction in Asia after Acker’s May sale.

The same weekend, Christie’s International sold HK$48.1 million of wine in the city, led by an 18-bottle lot of 2000 Lafite that fetched HK$420,000, against a high estimate of HK$300,000. Both auctions sold every bottle on offer.

{Full story}

Enhanced by Zemanta