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Latour to Star With Romanee-Conti Bottles at Sotheby’s

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Chateau Latour
A case of Chateau Latour 1996 Bordeaux with a top estimate of 4,400 pounds ($6,800). It is on sale at a Sotheby's auction in London on May 22. Source: Sotheby's via Bloomberg

May 11 (Bloomberg) -- Eleven lots of 1982 Bordeaux wines, including eight cases of Chateau Latour and three double magnums of Chateau Petrus, are estimated to fetch as much as 12,000 pounds ($18,600) each at a Sotheby’s sale in London this month.

A single bottle of Romanee-Conti 2005 Domaine de la Romanee-Conti Burgundy carries a price tag of as much as 8,000 pounds, while a similar one from 2009 is estimated at as much as 7,500 pounds, according to the Sotheby’s online catalog.

Demand from investors for Bordeaux after two price slumps in the past five years has boosted the London-based Liv-ex Fine Wine 50 Index by 9 percent since November, when it touched a 31-month low. The daily gauge, which fell in April after four straight monthly gains, rose again at the start of this month while the Liv-ex Fine Wine 100 Index, calculated monthly, has gained 5.9% so far this year.

The wine market “is reasonably stable at the moment,” said Chris Smith, investment manager at The Wine Investment Fund in London. Smith said his start-of-year forecast for a 14 percent gain in 2013 “still looks about right.”. The fund, invested in Bordeaux, has about $50 million under management.

Other leading Bordeaux lots in the sale, scheduled for May 22, include two cases of Chateau Lafite-Rothschild 2001 Pauillac, estimated to fetch as much as 5,500 pounds each, six cases of Chateau Cheval Blanc 1982 from Saint-Emilion, with a price tag of as much as 5,200 pounds each, and eight cases of Latour 1996 estimated at as much as 4,400 pounds each.

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.

MAY:
May 14/15:       Christie’s, Geneva
May 18:          Bonhams, San Francisco
May 18:          Hart Davis Hart, Chicago
May 22:          Sotheby’s, London
May 23:          Bonhams, Hong Kong
May 23:          Bonhams, London
May 24/25:       Christie’s, Hong Kong
May 24/25:       Zachys, Hong Kong
May 29:          Acker Merrall & Condit, New York
May 30/31:       Christie’s, New York
May 31:          Acker, Merrall & Condit, Hong Kong


JUNE:

June 1:          Acker, Merrall & Condit, Hong Kong
June 6:          Christie’s, London
June 8:          Sotheby’s, New York
June 12:         Sotheby’s, London
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. 7:         Acker Merrall & Condit, New York
Sept. 11:        Sotheby’s, London
Sept. 12:        Bonhams, London
Sept. 14:        Bonhams, San Francisco
Sept. 21:        Hart Davis Hart, Chicago
Sept. 27/28:     Acker Merrall & Condit, Hong Kong

OCTOBER:

Oct. 24:         Bonhams, London
Oct. 26:         Hart Davis Hart, Chicago

NOVEMBER:

Nov. 20/22:      Bonhams, Hong Kong

DECEMBER:

Dec. 7:          Hart Davis Hart, Chicago
Dec. 12:         Bonhams, London

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.

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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