Fine wine news

A fine wine auction has been held in Hong Kong, with 100 per cent of the lots sold.

Christie's successful event also saw 100 per cent of the lots sell by value, a situation that has not been seen for some months and could signify a healthy return to wine investment in China.

The auction featured the private collection of Henri Jayer, who died in 2006 and was known as one of the most talented winemakers in Burgundy.

It raised a total of HK$66.02 million (£5.4 million), with highlights including a selection of Burgundy fine wine, a current favourite in China.

A case of Vosne-Romanee Premier Cru 1985, for example, surpassed its top estimate of HK$1 million and sold for HK$2.05 million to a private Asian buyer.

Twelve bottles of Richebourg Grand Cru 1979 also exceeded its HK$800,000 top estimate to fetch HK$1.8 million, while two magnums of the 1985 vintage went for HK$1.7 million.

David Elswood, International Head of Wine and Christie's auctioneer, said the sale "exceeded all of our expectations".

"Buyers were keenly aware of the unique provenance of these classic Burgundies and the attraction of a sale that can never be repeated, even at Christie's," he added.

Indeed, 17 lots sold for more than HK$1 million and the average lot value was HK$647,350.

Charles Curtis, Head of Wine for Christie’s Asia, highlighted the "enduring passion" that Asian clients have for Burgundy wine and noted that the auction "confirms once again the dominance of Hong Kong in the market for fine and rare wine.”

Sotheby's will be keen to recreate Christie's luck at its next fine wine sale on February 22nd.

It will take place in London and will feature 601 lots of Bordeaux, Burgundy, Champagne and the Rhone.

The sale will feature star lots including three magnums of Petrus 2000, each with an estimate of £13,000-£17,000.

Cases of Domaine de la Romanée-Conti, meanwhile, will range from the 1960s to the 1998.

Posted by Brian Hughes