Petrus ’90 Leads Christie’s Sale as ’89 Sold at Sotheby’sGuy Collins
Twelve bottles of Petrus 1990 from one of Bordeaux’s top growers took top slot in a sale at Christie’s International Plc in London, fetching 25,850 pounds ($38,400), according to an e-mailed statement from the auction house.
A dozen bottles of the same Pomerol producer’s 1970 wine sold for 15,275 pounds on March 26, as did 12 bottles of Richebourg 1961 Domaine de la Romanee-Conti Burgundy.
Auction demand for historic Bordeaux and Burgundy persists even as buyers have become more selective on prices they are willing to pay for recent vintages. Ten years ago Petrus 1990 was trading on London’s Liv-ex fine wine market at $20,000 a case, before a boom in top Bordeaux drove it above $50,000 in 2010 and 2011. While prices have since shown signs of cooling, Petrus has been sustained by its rarity value.
“We witnessed significant bidding throughout the sale on rare Bordeaux and Burgundy,” Chris Munro, head of the London wine department at Christie’s, was cited in the e-mail a saying.
At a Sotheby’s wine auction in London March 25, six magnums of Petrus 1989 fetched 32,900 pounds from an Asian buyer, beating presale estimates, according to an e-mailed statement from the auction house.
Burgundies leading the Sotheby’s sale included six bottles of Romanee-Conti 1993 DRC, which sold for 54,050 pounds, and 12 bottles of La Tache 2009 DRC, which fetched 25,850 pounds.