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Case of Petrus 1982 at $54,500 Tops Auction With Lafite

Chateau Petrus 1982
A case of Chateau Petrus 1982. It sold for 35,100 pounds ($54,500) at a Christie's International PLC auction in London on May 2. Source: Christie's Images Ltd. 2013 via Bloomberg

A case of Chateau Petrus 1982 Pomerol fetched the top price at a Christie’s International Plc wine auction in London earlier this month, selling for 35,100 pounds ($54,500) including fees, according to the auction house.

Twelve bottles of Chateau Lafite-Rothschild 1982 Pauillac sold for 26,910 pounds at the auction, a case of Chateau Lafleur 1982 Pomerol fetched 25,740 pounds and a magnum of Chateau Cheval Blanc 1947 attracted a winning bid of 15,210 pounds.

Investor demand has revived after a 17-month price slide which started in July 2011, boosting the Liv-ex Fine Wine 50 Index by 9 percent since November. The index, which fell in April after posting four straight monthly gains, is still up more than 5 percent so far this year, while the Liv-ex Fine Wine 100 Index, calculated monthly, has risen 5.9 percent.

The market benchmark “is well below trend, so there’s a fair bit of recovery potential just getting back to the trend line,” said Chris Smith, investment manager at The Wine Investment Fund in London. The fund, invested in Bordeaux, has about $50 million under management. “On a long view, we still prefer the more mature vintages to the younger ones.”

The sale raised a total of 1.24 billion pounds and was 93 percent sold by lot and value, according to Christie’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.

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


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 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 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 2:          Christie’s, London                    $1.93 mln

Muse highlights include Scott Reyburn on the art market; London and New York weekend guides; Greg Evans and Craig Seligman on movies; and Lewis Lapham’s podcasts.

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