The Acker Merrall & Condit¹ sale in Hong Kong this past weekend shattered expectations with over US$8.2 million (HK$64M) in total sales, more than 10% over the high estimate, even though 8% of the lots remained unsold !!!

Over 330 people packed the Island Shangri-La Ballroom and bidding was ferocious in the room, often starting at the opening bid and going up, up and away from there. In fact, due to so much in-room bidding, the pace of 100 lots an hour forced them to move the second session upstairs in order to make sure that the evening wedding scheduled in the ballroom could still take place as planned.

The top lot of the day was a case of which realized a spectacular HK$1.89 Million (US$242,308) including buyer’s premium after spirited bidding setting a new World Auction Record for a case of Domaine de la Romanée- Conti. Acker Merrall & Condit donated HK$327,600 (US$42,000), the entire buyer’s premium of 21% on this top lot to Habitat for Humanity, which is helping to rebuild housing for China’s earthquake victims.

Bidding was fiercely competitive for a case of 6 magnums of Château Mouton Rothschild 1945 which fetched HK$1,306,000 (US$167,436) and a case of 12 bottles of Château Mouton Rothschild 1945 sold for HK$1,210,000 (US$155,128). An exceedingly rare Imperial of Château Lafite Rothschild 1982 realized an astonishing HK$387,200 (US$49,641), well above the pre-sale high estimate. Another World Auction Record was realized with the sale of a case of 1982 Château Le Pin, which fetched HK$822,800 (US$105,487).

The two large format Champagne lots direct from the cellars of Dom Pérignon also realized World Auction Records. A Jeroboam of Dom Pérignon Rosé 1996 and bottle #001 fetched HK$266,200 (US$34,128) and magnums of Dom Pérignon Oenothèque (vintages 1966, 1973 and 1976) realized HK$726,000 (US$ 93,077), thereby shattering the World Auction Record for any Champagne lot sold at auction. The previous record was also set by Acker Merrall & Condit, only 4 weeks ago in New York, when 2 bottles of Dom Pérignon Rosé 1959 sold for around US$84,700.

John Kapon, Acker Merrall & Condit’s President and Auction Director, said: “This has been a remarkable week for Acker Merrall & Condit and the wine market in Asia. Today’s sale was a landmark event in the history of the wine market in Asia. We are thrilled with the result, which is a testament to the strength of the wine market in Asia and Hong Kong’s leading role as a regional hub of fine and rare wines. The result underlines Acker Merrall & Condit’s leadership position as a wine auctioneer in Asia, as we present wines of the finest and rarest quality to Asian collectors.”

“As America’s oldest and finest wine merchant, we are committed to facilitating Hong Kong’s vision in achieving the title of the wine capital of Asia. We now look forward to our next wine sale in Hong Kong in November this year, in which we will also source wines from Asian collectors who have demonstrated their sophistication and enthusiasm for top quality wines in perfect storage conditions.”

The other top 20 lots were as follows:

Lot # - 464 6 magnum 1945 Mouton Rothschild Pauillac , US - $163,350.00 , HK - $1,306,800.00
Lot # - 463 12 bottle 1945 Mouton Rothschild Pauillac , US - $151,250.00 , HK - $1,210,000.00
Lot # - 563 12 bottle 1982 Chateau Le Pin Pomerol , US - $102,850.00 , HK - $822,800.00
Lot # - 362 1 double magnum 1945 Mouton Rothschild Pauillac , US - $96,800.00 , HK - $774,400.00
Lot # - 562 *B 1 magnum 1976 Dom Perignon Oenotheque , US - $90,750.00 , HK - $726,000.00
Lot # - 562 *B 1 magnum 1966 Dom Perignon Oenotheque , US - $90,750.00 , HK - $726,000.00
Lot # - 562 *B 1 magnum 1973 Dom Perignon Oenotheque , US - $90,750.00 , HK - $726,000.00
Lot # - 639 3 magnum 1996 Romanee Conti DRC , US - $72,600.00 , HK - $580,800.00
Lot # - 567 12 bottle 1989 Chateau Petrus Pomerol , US - $66,550.00 , HK - $532,400.00
Lot # - 572 12 bottle 1990 La Tache DRC , US - $66,550.00 , HK - $532,400.00
Lot # - 577 1 Methuselah 1998 Romanee Conti DRC , US - $66,550.00 , HK - $532,400.00
Lot # - 570 12 bottle 1971 DRC Assortment , US - $60,500.00 , HK - $484,000.00
Lot # - 370 6 magnum 1989 Chateau Petrus Pomerol , US - $57,475.00 , HK - $459,800.00
Lot # - 65 12 bottle 1990 Chateau Petrus Pomerol , US - $54,450.00 , HK - $435,600.00
Lot # - 571 12 bottle 1985 DRC Assortment , US - $51,425.00 , HK - $411,400.00
Lot # - 579 1 Methuselah 2002 Montrachet DRC , US - $51,425.00 , HK - $411,400.00
Lot # - 83 12 bottle 1982 Lafite Rothschild Pauillac , US - $48,400.00 , HK - $387,200.00
Lot # - 155 1 Imperial 1982 Lafite Rothschild Pauillac , US - $48,400.00 , HK - $387,200.00
Lot # - 375 12 bottle 1999 DRC Assortment , US - $48,400.00 , HK - $387,200.00
Lot # - 640 12 bottle 1999 DRC Assortment , US - $48,400.00 , HK - $387,200.00
Lot # - 455 12 bottle 1982 Lafleur Pomerol , US - $45,375.00 , HK - $363,000.00
Lot # - 623 12 bottle 1990 DRC Assortment , US - $45,375.00 , HK - $363,000.00
Lot # - 624 12 bottle 1990 DRC Assortment , US - $45,375.00 , HK - $363,000.00

Their next Hong Kong auction will be November 22nd, 2008.

1. About Acker Merrall & Condit
   Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant. It has greatly expanded the services to Auctions, Education, Tastings and Wine Clubs. The company is the biggest wine auctioneer in America with a total of over US$60 million achieved in both 2006 and 2007. Operating in New York and California, the company holds more than 20 auctions a year, including Internet auctions. The company is devoted to helping its customers buy and sell the best wines, and also to sharing with them the experience of enjoying wine. Starting out as a family business, three generations of the Kapon family have been dedicated to bringing the best from the vine to their customers.
   www.ackerwines.com
   www.ackerasia.com [↩]

This post is tagged 1982 Lafite Rothschild, Acker Merrall & Condit, Château Mouton Rothschild 1945, Dom Pérignon Rosé 1996, Domaine de la Romanée-Conti 1990