Fine wine news

Sotheby's first fine wine sale of 2012 has got off to a strong start, fetching HK$44.06 million (£3.69 million).

The Hong Kong auction, held on January 14th, featured Bordeaux first growths, Burgundy and super seconds and many exceeded their estimates, indicating that the year could be turning around its fortunes on 2011's close.

Highlights of the sale included a case of Chateau Lafite 1982, which sold for HK$490,000, exceeding its HK$420,000 estimate. However, estimates have been downgraded by auctioneers on last year's figures.

Petrus also performed well, with 1982 and 2000 vintages selling for HK$441,000 and HK$392,000 respectively.

Burgundy, however, was the real star of the event, with a case of Romanee Conti 1990 fetching HK$1.8 million, topping its HK$1.5 high estimate.

A second case of Romanee Conti 1988 sold for HK$1.16 million.

Robert Sleigh, head of Sotheby's Wine in Asia, commented that mature Bordeaux and Burgundy performed "very strongly", while "commodity Bordeaux from young vintages that are still available in larger parcels received less demand".

Posted by Brian Hughes