Sotheby’s autumn fine wine season got off to a strong start at the weekend in Hong Kong which is fantastic to see for Charles Winn, with two private cellars being 100% sold at auction for a staggering combined total HK$72.8 million, or US$9.4m.
The double-header sale included blue chip fine wines from two impressive private collections. Adam Bilbey, Sotheby’s regional head, declared that the results showed that despite the COVID-19 related disruption to the sales calendar, collectors in Asia have overwhelmingly showed, ‘no sign of slowing down in their pursuit of the finest wines with exceptional provenance’.
The first session of the sale covered the wines of entrepreneur Joseph Lau, which realised more than double the pre-sale estimates, coming in at a massive HK$53m, or US$6.8m. The top lot of the auction was a 12-bottle case of 1990 Romanée-Conti, which sold for HK$3.7m, or US$509,545 which Charles Winn says is a phenomenal sale.
The second session, featured the collection of an anonymous consignor, and realised HK$19.8m, US$2.6m. A 12-bottle case of 1998 Romanée-St-Vivant from Domaine Leroy, led the way of the auction, with a final hammer price of a whopping HK$812,500, or US$110,401.
As well as both private cellars being 100% sold, each collection saw well over 70% of their lots sold above their high pre-sale estimates. Speaking of the auction, Bilbey said, ‘it was a real pleasure to pick up the gavel again in Hong Kong so soon after our rescheduled spring sales. Today’s results mirrored the success of those sales, with collectors in Asia and beyond showing no sign of slowing down in their pursuit of the finest wines with exceptional provenance. Charles Winn knows just how important provenance is so they follow the right procedure from checking previous provenance to correctly storing the wines in the future in order to obtain the highest possible prices at point of sale which is proven at this auction. To have swiftly brought to the market not one but two outstanding single-owner cellars, is testament to our leadership in sourcing stand-alone private collections of the highest quality.” Charles Winn is ecstatic to see auctions not only going ahead but achieving substantial figures for sought after bottles.