Petrus Chases Screaming Eagle, Asia Thirst Drives Prices

Signs of increasing demand for a broad range of California, Bordeaux and Burgundy wines drove prices at an Acker Merrall & Condit Hong Kong sale as the fall season for global wine auctions gathered pace.

A rare case of Cabernet Sauvignon from the inaugural 1992 vintage of Napa Valley grower Screaming Eagle fetched HK$442,800 ($57,100), Acker said in an e-mailed statement. Six bottles of 1966 Chateau Haut-Brion, a Bordeaux first-growth producer, sold for HK$108,240, above its presale estimate.

The event comes after six months in which recent vintages of top Bordeaux growers have struggled to generate buying interest as collectors have sought wines from alternative regions. Wines from leading producers and ready-to-drink vintages in France, Italy and the U.S. are attracting more bids both at auction and in the broader wine investment market.

“For the second month in a row, top-rated vintages with some maturity outperformed,” Chris Smith, an investment manager at The Wine Investment Fund in London, wrote in his latest market report. The fund, invested in Bordeaux, manages $50 million.

A 12-bottle case of 1982 Petrus, a top grower from Bordeaux’ Pomerol region on the right bank of the Dordogne, sold for HK$479,700, while six bottles of the 2000 Petrus sold for HK$196,800, Acker said.

Vintage Pomerol

Other rare Bordeaux in the auction included a magnum of 1998 Le Pin, also from Pomerol, which sold for HK$59,040.

The two-day sale fetched more than HK$50 million, with 98 percent of lots sold.

Top Burgundies in the auction included two assorted cases of 1999 Domaine de la Romanee-Conti, which sold for HK$442,800 each, and a case of 2005 Leroy Romanee Saint-Vivant, which fetched HK$344,400.

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
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


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 17:        Sotheby’s, London                     $2.09 mln


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


Sept. 7:        Sotheby’s, Hong Kong                  $4.51 mln
Sept. 7:        Acker Merrall & Condit, New York      $3.15 mln
Sept. 14:       Acker Merrall & Condit, Hong Kong     $6.40 mln

Muse highlights include Manuela Hoelterhoff on arts, Rich Jaroslovsky on tech, Ryan Sutton on New York dining, Catherine Hickley on German art and Amanda Gordon’s Scene Last Night.

(For more Bloomberg Muse, click on MUSE. For news on the wine market, click TOP WINE.)
    Before it's here, it's on the Bloomberg Terminal. LEARN MORE