Clarence Dillon Wines to Boost Sotheby’s Hong Kong Sale
Stock Chart for Sotheby's (BID)
Wines dating back to 1891 from the cellars of Domaine Clarence Dillon in Bordeaux, including vintages from first-growth estate Chateau Haut-Brion, will go on sale at a Sotheby’s (BID) auction in Hong Kong in October.
Dillon, a New York financier, bought Haut-Brion in 1935 and his family-owned estate has expanded to include neighboring Chateau La Mission Haut-Brion and more recently Chateaqu Quintus in Saint-Emilion. Wines from all three will be in the auction.
Sotheby’s last sold wines direct from the Dillon cellars in New York in 2004, in a sale dominated by North and South American private collectors, it said in an e-mailed statement. The Asian auction in October is being planned at a time when investor demand has revived since last November, driving the Liv-ex Fine Wine 50 Index up 6 percent this year after a 16-month price slide which started in July 2011.
“The demand is still driven from the emerging economies,” Jeremy Peacock, senior wine broker at Vin-X Ltd. in London, said in an interview on Bloomberg Television’s “On the Move.” “The whole point about fine wine is it is a hedge against more volatile investments.”
Haut-Brion is one of the five left-bank first growths in Bordeaux’s 1855 classification. The estate has been making wine for more than 350 years. It acquired La Mission Haut-Brion in 1983.
Haut-Brion’s most expensive wine of the past quarter-century remains its 1989 vintage, which was awarded a perfect 100-point score by U.S. wine critic Robert Parker. One case sold for 10,925 pounds at a Christie’s International Plc auction in London on Feb. 21 while another fetched 10,810 pounds at a Sotheby’s U.K. sale the same month.
Sotheby’s will auction more than 500 lots from Domaine Clarence Dillon in the Hong Kong sale, which the auction house estimates may fetch as much as HK$14 million ($1.8 million).
Here is a list of global wine auctions scheduled so far this year. Dates may be subject to revision, and links are to auction house sale catalogs and websites.
JUNE: June 1: Acker, Merrall & Condit, Hong Kong June 6: Christie’s, London June 8: Sotheby’s, New York June 13/14: Zachys, New York June 28: Christie’s, Paris June 29: Acker Merrall & Condit, New York June 29: Hart Davis Hart, Chicago JULY: July 11: Bonhams, London July 17: Sotheby’s, London July 27: Bonhams, San Francisco SEPTEMBER: Sept. 6/7: Zachys, Hong Kong Sept. 7: Acker Merrall & Condit, New York Sept. 11: Sotheby’s, London Sept. 12: Christie’s, London Sept. 12: Bonhams, London Sept. 13/14: Acker Merrall & Condit, Hong Kong Sept. 14: Bonhams, San Francisco Sept. 21: Hart Davis Hart, Chicago OCTOBER: Oct. 11: Christie’s, New York Oct. 23: Sotheby’s, London Oct. 24: Bonhams, London Oct. 24: Christie’s, London Oct. 26: Hart Davis Hart, Chicago NOVEMBER: Nov. 13: Sotheby’s, London Nov. 23: Bonhams, San Francisco DECEMBER: Dec. 7: Hart Davis Hart, Chicago Dec. 12: Bonhams, London
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