Chateau Latour Pomerol ’61 Fetches $167,100 at Sotheby’sGuy Collins
A case of Chateau Latour a Pomerol 1961 from the cellar of the Bordeaux estate’s former owner Lily Lacoste-Loubat fetched 103,400 pounds ($167,100) at a Sotheby’s sale for charity, more than double the low estimate.
A double magnum of Petrus 1964 and a case of the same Bordeaux estate’s 1982 vintage each sold for 47,000 pounds, also beating estimates, while 12-bottle lots of Petrus 1990 and 1998 fetched 42,300 pounds each, according to a Sotheby’s statement.
The Liv-ex Fine Wine 50 Index, tracking leading Bordeaux vintages from more recent years, has dropped since March 15, paring an 8 percent gain made in the previous 10 weeks to leave it less than 2 percent up this year. Auction demand for historic vintages with strong provenance contrasts with muted investment appetite in the broader market for younger wines, which has left the index 30 percent below its 2011 peak.
Data charting annual returns over 20 years “suggests we should be at or near the bottom of a 10-year cycle,” Will Beck, partner of London-based Wine Asset Managers LLP, said in a market report. The fund has $20 million under management.
Other historic bottles in the Sotheby’s sale, held on Oct. 23, include one magnum of Petrus 1945, which sold for 32,900 pounds, more than double its low estimate, and another from its 1961 vintage, which fetched 22,325 pounds.
Petrus has 28 acres (11 hectares) planted with red-grape vines, of which 95 percent are Merlot and 5 percent Cabernet Franc. The Bordeaux vineyard is in Pomerol, on the right bank of the Dordogne river. Fermentation is in temperature-controlled concrete tanks and the wine matured in new oak barrels.
Lacoste-Loubat inherited both Petrus and Latour a Pomerol in 1961 from her aunt, according to an e-mailed Sotheby’s statement. Proceeds from that part of the sale went to charitable foundation Le Foyer de Charite, which currently owns Latour a Pomerol.
The auction, which also included other wines, raised a total of 2.31 million pounds, with Asian collectors securing 43 percent of the lots, according to Sotheby’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.
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. 12: Christie’s, London $2.13 mln Sept. 13/14: Acker, Merrall & Condit, Hong Kong $6.40 mln Sept. 18: Sotheby’s, London $1.80 mln Sept. 20/21: Hart Davis Hart, Chicago $5.03 mln Sept. 20/21: Sotheby’s, New York $3.96 mln OCTOBER: Oct. 4/5: Sotheby’s, Hong Kong $12.10 mln Oct. 5: Acker Merrall & Condit, New York $2.35 mln Oct. 11: Christie’s, New York $2.73 mln Oct. 23: Sotheby’s, London $3.73 mln Oct. 24: Christie’s, London $1.48 mln
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