Sotheby’s furthers Hong Kong fine wine clout

Sotheby’s sold 100% of two American collections, generating US$7,889,340, far above the pre-sale high estimate of US$6,130,436.

The high point was the record-setting US$93,077 paid for an Imperial (six-litre bottle) of 1982 Château Pétrus.

Serena Sutcliffe MW, who heads Sotheby’s international wine department, said Asian buyers represented 99% of buyers in the 3-4 October sale.

‘Hong Kong has become Sotheby’s most important wine centre, ahead of very successful auctions in New York and London,’ Sutcliffe said.

Sotheby’s introduced live online bidding with a live video and audio feed in its Hong Kong this season; online bidders sought 56% of consignments offered.

The house’s opening autumn auction in New York mirrored the comeback of the blue-chip American market, which experienced low prices during the economic downturn much of the year.

That Aulden Cellars/Sotheby’s sale, on 25-26 September, brought $3,347,798, just beyond the $3.2m projection.

Again 1982 Château Pétrus led the way, with a case fetching $54,450 ($35,000 high estimate).

Zachys realized $4,179,636, a hair over the high estimate, in its 12 September auction. This sum, reflecting 99.3% of lots sold, was the most it has generated in its US auctions since May 2008.

The biggest earner was six bottles of 2005 Romanée-Conti, Domaine de la Romanée-Conti (high-estimated at $40,000), which fetched $52,800.

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Written by Howard G Goldberg in New York

Howard G Goldberg is a wine writer and critic based in New York City. He made his name writing about wine for The New York Times, where he worked for 34 years. He has written various books on food and wine, including Prime: The Complete Prime Rib Book and All About Wine Cellars. He compiled The New York Times Book of Wine – a collection of the publication’s best wine articles.