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Sotheby's Spring 2011 Sales of Two Private Wine Collections Achieve a Combines Total of US$17.5 Million
Auction Scene. Photo: Sotheby's.

HONG KONG.- Sotheby’s Hong Kong concluded today the two-day sale of The Ultimate Cellar with triumphant results of HK$96.8 million / US$12.4 million, well in excess of high estimate (HK$77.4 million / US$9.9 million*). The top lot, a case of Romanée Conti 1990, was sold for HK$1.8 million / US$232,692. Strong prices were seen in the best vintages from top Burgundy producers, demonstrating the increasing appeal of Burgundy in Asia.

Sotheby’s three-day sale series - The Classic Cellar from A Great American Collector VII and The Ultimate Cellar - saw strong bidding throughout Asia. Passionate online bidding also contributed to our success, maintaining our record 100%-sold rate and marking the 15th consecutive “white glove” wine sale by Sotheby’s Hong Kong in Asia since 2009.

The three-day sale series also brought the combined total of Sotheby’s Hong Kong wine sales series in 2011 to an impressive HK$250 million / US$32 million. Together with the successful sales in London and New York, the cumulative wine sales total for Sotheby’s worldwide in 2011 has grown to HK$319 million / US$41 million, reaffirming Sotheby’s market leader position in the global wine auction market.

Serena Sutcliffe, MW, Worldwide Head of Wine at Sotheby’s, said: “Over the past two days Burgundy has inspired enormous enthusiasm with interest focused on the greatest collection of Domaine de la Romanée Conti ever sold, one which offered legendary vintages from seven decades.”

Jamie Ritchie, President, Americas & Asia, Sotheby's Wine, Sotheby’s Wine, commented: “The Ultimate Cellar attracted Asia's greatest connoisseurs, who wanted to acquire the finest Burgundy and Bordeaux from the best producers in the rarest vintages. The superb condition of the wines, combined with the rarity factor, created strong demand from bidders throughout Asia, who participated in the saleroom, via telephone, with many also joining in bidding online. The collector behind The Ultimate Cellar is a role model for future collectors and is extremely happy that these great wines will be appreciated and enjoyed in their new homes, in the same way that he enjoyed them.”

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