Petrus Above $5,000 Leads Top Lots at Sotheby’s Auction

Chateau Petrus Vineyard
Chateau Petrus, a wine estate in Bordeaux's Pomerol region, produces some of its most expensive wines. Its vineyards are predominantly planted with merlot grapes. Photographer: Guy Collins/Bloomberg

Chateau Petrus fetching more than $5,000 a bottle dominated top lots at a Sotheby’s wine auction in London this month as vintages from 1988 to 2000 from the Pomerol estate attracted demand mainly from European collectors.

Three bottles of the 2000 vintage sold for 10,810 pounds ($16,850) while eight bottles of the 1989 sold for 18,800 pounds and seven bottles from 1990 fetched 17,038 pounds, according to an e-mailed statement from Sotheby’s. A dozen 1988 bottles went for 13,513 pounds and six from 1998 fetched 11,515 pounds.

While Burgundy has tended to lead global auction demand in the past couple of years, this sale came amid signs in recent months that appetite for top Bordeaux is reviving following a drop in prices from 2011 to 2014.

“There were strong prices for Bordeaux, especially for great vintages, such as the 2000, where Petrus soared over the high estimate,” Stephen Mould, European head of Sotheby’s wine department, was cited in the statement as saying.

Other leading wines in the Sotheby’s auction held July 15 included an 11-bottle lot of Le Pin 1993 Pomerol, which fetched 9,988 pounds, and a 12-bottle lot of Echezeaux 1990 Domaine de la Romanee-Conti Burgundy, which sold for the same amount.

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