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Sotheby’s latest Hong Kong sale smashes auction records


Posted in: Wine Market News

Tagged: Auction results

Sotheby’s latest Hong Kong sale has set two new records, making US$29.1million (HK$228.3 million) in the process.

The auction, which took place at the end of March, featured two major collections: one from an anonymous Asian collector, known as ‘The Philanthropist’s Cellar’, and the other from US film producer Jerry Perenchio. Proceeds from both will go to charitable causes.

The Philanthropist’s Cellar – which broke the record for a single owner collection sold at auction – made US$16.2 million (HK$127.2 million). Highlights included a 12-bottle case of 1971 Romanee-Conti from Domaine de la Romanee-Conti, which sold for US$376,144, followed by six magnums of 1982 Lafleur, which sold for US$133,218.

From the Jerry Perenchio collection, a separate case of 1971 Romanee-Conti from Domaine de la Romanee-Conti sold for US$407,489, and nine bottles of the 1966 went for US$297,781.

Other sale highlights included an ex-cellar consignment of 2015 Chateau Margaux, which sold for more than four times its pre-sale high estimate at US$117,545.

Together, the collections helped the auction break the world record for a wine sales series.

Jamie Ritchie, worldwide head of Sotheby’s Wine said: “We are thrilled to set a new world record for any series of wine auctions. To sell every one of the 1,758 lots in two major single-owner sales as well our various-owner auction is a sign of a buoyant market as well as the confidence placed in the Sotheby’s team by both consignors and buyers." 

A second offering from the Perenchio cellar will go under the hammer this May in New York.

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