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Chateau Latour Pomerol ’61 Fetches $167,100 at Sotheby’s

Source: Sotheby's via Bloomberg

A case of Chateau Latour a Pomerol 1961 sold for 103,400 pounds ($167,100) at a Sotheby's auction in London on Oct. 23, more than double its low estimate. Close

A case of Chateau Latour a Pomerol 1961 sold for 103,400 pounds ($167,100) at a... Read More

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Source: Sotheby's via Bloomberg

A case of Chateau Latour a Pomerol 1961 sold for 103,400 pounds ($167,100) at a Sotheby's auction in London on Oct. 23, more than double its low estimate.

A case of Chateau Latour a Pomerol 1961 from the cellar of the Bordeaux estate’s former owner Lily Lacoste-Loubat fetched 103,400 pounds ($167,100) at a Sotheby’s sale for charity, more than double the low estimate.

A double magnum of Petrus 1964 and a case of the same Bordeaux estate’s 1982 vintage each sold for 47,000 pounds, also beating estimates, while 12-bottle lots of Petrus 1990 and 1998 fetched 42,300 pounds each, according to a Sotheby’s statement.

The Liv-ex Fine Wine 50 Index, tracking leading Bordeaux vintages from more recent years, has dropped since March 15, paring an 8 percent gain made in the previous 10 weeks to leave it less than 2 percent up this year. Auction demand for historic vintages with strong provenance contrasts with muted investment appetite in the broader market for younger wines, which has left the index 30 percent below its 2011 peak.

Data charting annual returns over 20 years “suggests we should be at or near the bottom of a 10-year cycle,” Will Beck, partner of London-based Wine Asset Managers LLP, said in a market report. The fund has $20 million under management.

Other historic bottles in the Sotheby’s (BID) sale, held on Oct. 23, include one magnum of Petrus 1945, which sold for 32,900 pounds, more than double its low estimate, and another from its 1961 vintage, which fetched 22,325 pounds.

Source: Sotheby's via Bloomberg

A magnum of Petrus 1945 sold for 32,900 pounds ($53,180) at a Sotheby's auction in London on Oct. 23. Close

A magnum of Petrus 1945 sold for 32,900 pounds ($53,180) at a Sotheby's auction in London on Oct. 23.

Close
Open
Source: Sotheby's via Bloomberg

A magnum of Petrus 1945 sold for 32,900 pounds ($53,180) at a Sotheby's auction in London on Oct. 23.

Merlot Vines

Petrus has 28 acres (11 hectares) planted with red-grape vines, of which 95 percent are Merlot and 5 percent Cabernet Franc. The Bordeaux vineyard is in Pomerol, on the right bank of the Dordogne river. Fermentation is in temperature-controlled concrete tanks and the wine matured in new oak barrels.

Lacoste-Loubat inherited both Petrus and Latour a Pomerol in 1961 from her aunt, according to an e-mailed Sotheby’s statement. Proceeds from that part of the sale went to charitable foundation Le Foyer de Charite, which currently owns Latour a Pomerol.

The auction, which also included other wines, raised a total of 2.31 million pounds, with Asian collectors securing 43 percent of the lots, according to Sotheby’s.

Following is a table of major wine auctions held so far this year, with the total sold. Links are to auction websites or results statements.

JANUARY:
Jan. 11/12:     Zachys, Hong Kong                     $4.65 mln
Jan. 25/26:     Acker, Merrall & Condit, Hong Kong    $6.82 mln
Jan. 30:        Sotheby’s, London                     $2.22 mln

FEBRUARY:

Feb. 2:         Hart Davis Hart, Chicago              $4.40 mln
Feb. 21:        Christie’s, London                    $1.47 mln
Feb. 23:        Acker, Merrall & Condit, New York     £3.10 mln
Feb. 23:        Sotheby’s, New York                   $1.46 mln
Feb. 27:        Sotheby’s, London                     $1.04 mln

MARCH:

March 7/8:      Zachys, New York                      $5.81 mln
March 14:       Christie’s, New York                  $1.37 mln
March 15/16:    Christie’s, Hong Kong                 $6.19 mln
March 21:       Christie’s, London                    $1.22 mln
March 22/23:    Acker Merrall & Condit, Hong Kong     $4.93 mln
March 23:       Hart Davis Hart, Chicago              $4.42 mln

APRIL:

April 3:        Acker Merrall & Condit, New York      $2.30 mln
April 3/4:      Sotheby’s, Hong Kong                  $8.86 mln
April 17:       Sotheby’s, London                     $2.06 mln
April 23:       Christie’s, Amsterdam                 $1.23 mln
April 25/26:    Zachys, New York                      $4.13 mln
April 26/27:    Sotheby’s, New York                   $2.60 mln
April 27:       Acker Merrall & Condit, New York      $2.48 mln

MAY:

May 2:          Christie’s, London                    $1.93 mln
May 14:         Christie’s, Geneva                    $3.96 mln
May 17/18:      Hart Davis Hart, Chicago              $6.42 mln
May 22:         Acker Merrall & Condit, New York      $2.22 mln
May 22:         Sotheby’s, London                     $1.31 mln
May 24/25:      Zachys, Hong Kong                     $5.73 mln
May 25:         Christie’s, Hong Kong                 $6.32 mln
May 30:         Christie’s, New York                  $0.71 mln
May 31:         Christie’s, New York                  $1.93 mln

JUNE:

May 31/June 1:  Acker, Merrall & Condit, Hong Kong    $5.91 mln
June 6:         Christie’s, London                    $1.85 mln
June 13/14:     Zachys, New York                      $3.56 mln
June 29:        Acker Merrall & Condit, Hamptons      $3.40 mln
June 28/29:     Hart Davis Hart, Chicago              $4.75 mln

JULY:

July 17:        Sotheby’s, London                     $2.09 mln

AUGUST:

Aug. 31:        Christie’s, Hong Kong                 $3.84 mln

SEPTEMBER:

Sept. 7:        Sotheby’s, Hong Kong                  $4.51 mln
Sept. 7:        Acker Merrall & Condit, New York      $3.15 mln
Sept. 12:       Christie’s, London                    $2.13 mln
Sept. 13/14:    Acker, Merrall & Condit, Hong Kong    $6.40 mln
Sept. 18:       Sotheby’s, London                     $1.80 mln
Sept. 20/21:    Hart Davis Hart, Chicago              $5.03 mln
Sept. 20/21:    Sotheby’s, New York                   $3.96 mln

OCTOBER:

Oct. 4/5:       Sotheby’s, Hong Kong                 $12.10 mln
Oct. 5:         Acker Merrall & Condit, New York      $2.35 mln
Oct. 11:        Christie’s, New York                  $2.73 mln
Oct. 23:        Sotheby’s, London                     $3.73 mln
Oct. 24:        Christie’s, London                    $1.48 mln

Muse highlights include New York and London weekend guides; Lewis Lapham on history and Greg Evans and Craig Seligman on movies.

To contact the reporter on this story: Guy Collins in London on guycollins@bloomberg.net

To contact the editor responsible for this story: Mark Beech at mbeech@bloomberg.net

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