Petrus Chases Screaming Eagle, Asia Thirst Drives PricesGuy Collins
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.
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.
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. 14: Acker Merrall & Condit, Hong Kong $6.40 mln
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