Auction of record-breaking HK$590,400 wine helps revive flagging market
Auction of record-breaking HK$590,400 wine helps revive flagging market
Mar 29, 2013 6(SCMP) - The wine market revived a little this month at an Acker Merrall & Condit auction in Hong Kong, but it still has a long way to go before revisiting its peak of two years ago. The sale by the American auction house, on March 22 and 23, set 97 records, including four for Chateau Petrus, a leading Bordeaux estate. The auction fetched a total of HK$38.3 million, with 94 per cent of lots sold. A case of three double magnums of 1990 Petrus sold for a record price of HK$590,400, while one bottle of 1947 Petrus set another record at HK$118,080.
"I was quite pleased to see Bordeaux have a nice bounce in the salesroom, as people were quite active, particularly for wines with 10 years of bottle age or more, and results for Lafite and Petrus also stood out," John Kapon, chief executive of Acker, said.
A 12-bottle lot of Chateau Lafite-Rothschild 1982 sold for HK$442,800, about 8 per cent more than the £34,500 (HK$405,860) a similar lot fetched at Christie's London auction last month.
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