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28 March 2012 Sotheby's London almost breaks wine auction record

The corks were almost being popped at Sotheby's last week when it almost broke a record.

Its latest fine wine auction achieved the second-highest total for a London wine sale held by the company, reaching £2.76 million.

Held on March 21st, the event sold 97.9 per cent of its lots at 99.4 per cent of the value.

Buyers came from 21 countries to bid for the wines, with much of the sales coming from absentee bidding, telephone bids and online.

The biggest-selling lot of the day was three bottles of Vosne Romanee, Cros Parantoux 1990 Henri Jayer, which soared past its top estimate of £14,000 to sell for £42,300, three times more than expected.

Other highlights included a rare 12-bottle vertical of Vega Sicilia 'Unico', from vintages 1941 to 1981, which fetched £4,935.

"We are particularly pleased that these great wine collections attracted buyers from around the world, including new clients who loved the quality and diversity of these stunning cellars," commented Sotheby's worldwide head of wine, Serena Sutcliffe.

Moving away from tradition, just 29 per cent of the lots were bought by Asian buyers while British buyers represented 62 per cent of the lots sold.

Only Andrew Lloyd Webber's 1997 Wine Collection auction achieved Sotheby's highest sale, totalling £3.7 million.

Posted by Paula Henderson

 

 Category: Wine investment

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