Decanter World Wine AwardsLafite prices spiral at record Sotheby's Hong Kong auction
- Friday 29 October 2010
- Comments (6)
Three bottles of 1869 Lafite Rothschild became the world’s most expensive wine sold at auction, fetching US$233,972 each.
In strongly competitive bidding, all 284 lots - 190 of them Lafites - went to Asian buyers.
The sale grossed US$8,440,137 - far beyond the pre-sale estimate for the entire catalogue, US$1,619,110 - 2 ,507,944.
The Lafite-only segment of the book fetched US$8,056,424. The pre-sale estimate for that segment was US$1,501,802 - 2,343,197.
In the last 18 months, Sotheby’s has held 10 consecutive 100%-sold auctions in Hong Kong.
Other than Lafite Rothschild, Domaine Barons de Rothschild sent consignments of Carruades de Lafite, Duhart Milon, L’Evangile and Rieussec.
Jamie Ritchie, president of Sotheby’s International Wine Department and one of the auctioneers, said: ‘Asian wine collectors embraced the opportunity to buy Lafite ...and showed their strong appreciation for this great wine.’
Highlights of the Château Lafite Rothschild auction:
- Two cases of 2009, which will be bottled next year (estimated at $10,000-15,000 each), fetched $68,632.
- Five cases of 2005 (each $12,000-18,000) each brought $37,435.
- One 2000 case ($20,000-30,000) brought $71,751; two more of the same brought $62,392 each.
- Two 1986 cases ($12,000-18,000 each) went for $65,512.
- An imperial (six-liter bottle) of 1982 ($25,000-55,000) found $148,182.
- Two regular cases of 1982 ($35,000-65,000 each) each brought $132,584.
- Six bottles of 1961 ($4,000-6,000) sold for $62,392.
- A 1959 jeroboam (five-liter bottle, estimated at $30,000-50,000), found $171,579.
- Three bottles of the 1949 ($5,000-8,000) got $53,034.
- Two 1945 bottles ($5,000-10,000) brought $49,914.
- A lone bottle of 1929 ($2,000-3,000) found $34,316.
Have your say!
Matt Walls
November 01 12:00
Dear James, I read your above comment with interest, and would be happy to 'advice' you. It is because of people like you who are only interested in buying these great wines for investment purposes that wine lovers such as me can no longer afford to drink them. So here is my advice: sling your hook.
Chris Hutchings
November 01 09:10
@ James, suggest you choose your supplier carefully, the market is not regulated and there are some not so reputable companies out there. My company Premier Cru Fine Wine Investments do help clients create and manage portfolios of investment grade wine and have a 17 year track record. Do your research and look at a number of companies before you jump in (and yes I realise this sounds like self promotion but the advice to research thoroughly is sound).
James
November 01 05:22
I am looking at buying some Chateau Lafite 2003, looking at these auction prices I think it has opened my eyes to investing in these wines. Can anyone advice me?
Mark Gilbert-Smith
October 31 13:29
This is just the beginning in my opinion. The 2009 vintage has been hailed as one of the best for the last 30 years, and thats not just Robert Parker, all the critics have given the 2009 vintage very high ratings, so I am also not surprised to see over £40,000 per case. Just watch the next couple of years, prices for these rare commodities will continue upwards.