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Sotheby's 2018 Spring Auction Wine Sales day 1: 100% sold, total US$12.9 million
Prices soared for Burgundy, with 12 bottles of Romanée Conti 1971 reaching HK$3,198,000 / US$407,489, equivalent to HK$266,500 / US$33,957 per bottle, more than triple the pre-sale estimate (HK$950,000-1.4 million / US$122,000 – 179,000). Courtesy Sotheby’s.

HONG KONG.- Sotheby’s opened its Spring Sale Series in Hong Kong with the first of a two-day offering of wines and whiskeys, comprising the Cellar from the Estate of Jerry Perenchio and a various-owner Finest & Rarest Wines sale. Together, the two auctions brought an overall total of HK$101,075,865 / US$12,879,087, with 100% of lots sold.

“The first part of The Cellar from the Estate of Jerry Perenchio more than doubled the pre-sale high estimate bringing HK$52.8 million / US$6.7 million and is a reflection of Mr. Perenchio’s passion for enjoying and collecting the best of the best. He had one of the great cellars of mature Burgundy and Bordeaux, the rarity of which drew many of the world’s leading collectors, and set new benchmark prices. We hope toasts are raised to Mr. Perenchio and his ‘Rules of the Road’ when these wines are opened and enjoyed, and are now looking forward to the second part of the cellar which will be offered in New York on May 19.” Jamie Ritchie, Worldwide Head of Sotheby’s Wine

The results were led by one of the most superb collections of mature wines ever to appear at auction, from the cellar of the legendary entrepreneur Jerry Perenchio. The sale brought a total of HK$52,821,120 / US$6,730,467 doubling pre-sale expectations (est. HK$19.7-27.5 million / US$2.5-3.5 million), with 100% of lots sold and 83% achieving prices above their high estimates.

Prices soared for Burgundy, with 12 bottles of Romanée Conti 1971 reaching HK$3,198,000 / US$407,489, equivalent to HK$266,500 / US$33,957 per bottle, more than triple the pre-sale estimate (HK$950,000-1.4 million / US$122,000 – 179,000). The 1966 vintage, on offer in a 9-bottle lot, also exceeded expectations to bring HK$2,337,000 (US$297,781), equivalent to HK$260,000 / US$33,087 per bottle. Henri Jayer’s Richebourg 1985 drew spirited bidding, with two three-bottle lots selling for HK$984,000 / US$125,381 each, equivalent to HK$328,000 / US$41,794 per bottle – also tripling pre-sale expectations (est. HK$300,000-400,000 / US$38,000 – 51,282).

All net proceeds from the sale will go to the Perenchio Foundation, whose principal mission will be to support visual and performing arts programs and institutions in Los Angeles. The second part of the collection will be offered at Sotheby’s in New York on 19 May 2018.

Featuring gems from Bordeaux and Burgundy, as well as a selection of covetable whiskeys, the various-owner Finest & Rarest Wines sale realised HK$48,254,745 / US$6,148,620, with 100% of lots sold.

A special multi-format offering of Château Margaux 2015 direct from the winery cellars, with all bottles signed by château owner Corinne Mentzelopoulos, soared to HK$922,500 / US$117,545, achieving more than four times the high estimate (HK$140,000-200,000 / US$17,000-26,000) – a price testament to the wine’s current status as the most sought after 2015 Bordeaux since its release en primeur.

A complete collection of Angelus 2012 in all formats, from bottle size to Melchior (18L), exceeded its pre-sale estimate to bring HK$676,500 / US$86,200 (est. HK$400,000-500,000 / US$50,000-60,000).

The Macallan in Lalique 6-Bottle Collection commanded the top price, bringing HK$3,198,000 / US$407,489, against a pre-sale estimate of HK$2-4 million / US$254,840-509,680. A bottle of Glenfiddich Rare Collection Aged 64 Years 1937 sold for HK$799,500 / US$101,872, while four bottles from Hanyu Ichiro’s Card series far exceeded their pre-sale estimate of HK$65,000-90,000 / US$8,000-12,000 to bring HK$393,600 / US$50,153. Overall, the selection of rare Scotch and Japanese whiskeys achieved a combined total of HK$10.2 million / US$1.3 million.

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