Sale no: L08610. Grand total: £806,277. Exch rate: 1.77. Sold by lot: 81% Lots offered: 349. Sold by £: 79% Lots sold/unsold: 283/66.
* Sotheby’s London Autumn Wine sales see 64% Increase from 2007.
* 15th October Sale helps boosts extraordinary total
* Asian and US Demand Drives Prices
Sotheby’s October wine sale reached a total of £806, 277 it brings the total for Sotheby’s wine auctions this autumn to nearly £3.5 million. The top lot in the extraordinary private collection removed from a purpose built London cellar was a case of Château Pétrus 1982 which sold for £39,100, well above its estimate of £24,000 -32,000. The auction was the third wine sale since early September and again attracted huge interest from Asian collectors; the removal of duty has meant that these wine buyers no longer pay tax when importing their purchases from London. Many of the top lots in the most recent sale were from the greatest Burgundy growers which are widely recognised to be favoured by drinkers in the Far East.
Discussing the sale Stephen Mould, Head of the European Wine Department at Sotheby’s said – “There were some excellent prices achieved for top wines, notably a lot of 12 bottles of Château Pétrus 1982 that fetched £39,100 and exceeded its high estimate by a wide margin. The more mature vintages sold well throughout the sale, although there was less demand for some recent vintages. (A probable explanation is that all the wines offered today were “Duty Paid” and packed in cartons whereas those buyers looking towards longer term investment prefer to buy wine “In Bond” in original wooden cases). A result of 80% sold met our expectations and we look forward to our next auction on 12 November – Finest and Rarest Wines, Featuring Treasures from the Cellars of Château Pichon Longueville Comtesse de Lalande.”
Compared to sales this time last year, Sotheby’s recent auctions have seen a 67% increase on the equivalent 2007 total. This has been helped enormously by the new buyers from the US and Asia who have driven up prices across the spectrum but particularly for top red and white Burgundy in pristine condition. Sotheby’s wine sale on 12 November that features treasures from the Cellars of Château Pichon Longueville Comtesse de Lalande is set to build on this recent success.
October 15: Show Stopping White Burgundy Prices
As well top prices for red Bordeaux there was strong demand Burgundy’s great white Montrachet with a lot of 5 bottles of Montrachet 1985 Domaine de la Romanée Conti realising £15,525. With less white wine available from Domaine de Romanée-Conti the sale was a rare chance to acquire this very sought after wine – the buyer was Asian.
Bordeaux Continues to Shine
The top lot to be sold to a UK collector was a case of Château Lafite 1959 that sold for £27,600 against an estimate of £15,000 – 20,000. It was described by Serena Sutcliffe as “one of Bordeaux’s best wines ever” and is sure to provide a memorable drinking experience.
LOT | PRICE | ESTIMATES | BUYER
41 | £39,100 ($68,319) | £24,000 – 32,000* | Asian Trade | Château Pétrus 1982 (12 bts)
9 | £27,600 | ($48,225) | £15,000 – £20,000 | UK Private | Château Lafite 1959 (12 bts)
42 | £27,600 ($48,225) | £24,000-32,000 | Asian Trade | Château Pétrus 1982 (12 bts)
19 | £21,850 ($38,179) | £12,000 – 16,000 | Asian Trade | Château Lafite 1982 (5 mags)
89 | £20,700 ($36,169) | £15,000 – 20,000 | Asian Trade | Château Pétrus 1990 (1 jero)
282 | £15,525 ($27,127) | £15,000-20,000 | Asian Trade | Montrachet 1985 Domaine de la Romanée Conti (5bts)
18 | £13,800 ($24,113) | £14,000-20,000 | Asian Trade | Château Lafite 1982 (12 bts)
237 | £13,800 ($24,113) | £14,000-18,000 | European Private | La Tâche 1996 Domaine de la Romanée Conti (12 bts)
256 | £13,570 ($23,711) | £12,000-15,000 | European Private | Romanée Conti 2001 Domaine de la Romanée Conti (2 mags)
195 | £11,500 ($20,094) | £7,500 – 9,000 | European Private | Château d’Yquem 1967 (12 bts)
*Estimates do not include buyer’s premium
This post is tagged Château d’Yquem 1967, Château Lafite 1959, Château Lafite 1982, Château Pétrus 1982, Château Pétrus 1990, La Tâche 1996 Domaine de la Romanée Conti, Montrachet 1985 Domaine de la Romanée Conti, Romanée Conti 2001 Domaine de la Romanée Conti