Acker Merrall’s Hong Kong Auction Sets Records As Chinese Bidders Take To BurgundySeptember 20, 2011
Acker Merrall & Condit set a number of records at its two-day wine auction in Hong Kong September 16 and 17. All told, the auction raked in $11.78 million with 98% sold, including record prices for full 12-bottle cases of 1988, 1990, and 1996 DRC Romanée-Conti (selling for $150,154; $297,179; and $162,667 respectively), a case of 1990 Henri Jayer Vosne Romanée Cros Parantoux ($93,846), a case of 1961 La Mission Haut Brion ($59,436) and five different vintages of Salon Champagne, including the highest price for any single bottle of Salon at auction (a 1955 vintage for $5,944). The top lot was a case of 1990 DRC Romanée-Conti selling for $297,179, whose buyer was a Hong Kong collector bidding over the phone.
Bordeaux continued to be in high demand among Asian bidders, especially Lafite Rothschild (selling over $2.2 million overall) and Petrus (two original cases of 1982 selling for $68,820 each). But Acker Merrall CEO John Kapon said the prices paid for DRC Romanée Conti and Henri Jayer wines among others showed Asian buyers are warming up to Burgundy. “The (Chinese) mainland is just starting to discover the greatness of the region. Our next auction on November 4 and 5, which will feature the collection of Don Stott, the world’s foremost collector of Burgundy, will be a benchmark sale.”Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.