NEW YORK, NY.- Sothebys
Wine auctions in 2010 brought an overall global total of US$88,270,602; this is more than double last years figure and the highest in the companys forty years of wine auctions. The year once again saw extraordinary demand from Asian collectors with every bottle offered in the eight Hong Kong auctions finding a buyer and major Asian participation in London and Hong Kong sales.
Serena Sutcliffe MW, Worldwide Head of Wine at Sothebys said: This has been a landmark year for Sothebys Wine. We achieved our largest ever total and now hold the record for a standard sized bottle, a bottle in any format and for a wine lot sold at auction. The phenomenal worldwide sell through rate was led by Hong Kong where every bottle in every sale has found a buyer. January 2011 marks my 20 year anniversary as Head of the Wine Department and I am thrilled to be celebrating it in Hong Kong with the Andrew Lloyd Webber Wine Collection which we are offering on 22 January.
The Lafite Ex Cellars sale set a new record for a single standard sized bottle at auction when a bottle of Château Lafite 1869 sold for $232,692. This means that Sothebys now holds the world records for both a standard bottle, a bottle in any format - the Jeroboam of Château Mouton Rothschild 1945 which fetched $310,700 in February 2007 in New York and any wine lot at auction 50 cases of Château Mouton Rothschild 1982 which sold for US$1,051,600 at Sothebys New York in 2006.
Hong Kong Sales All Sold
In addition to the superb total, 2010 has been marked by an exceptionally strong sell through rate. Globally 99% of wine lots found buyers, and in Asia, every sale Sothebys has held in Hong Kong since January 2009 has been 100% sold making a total of 6560 consecutive lots sold. Sothebys is the only auction house to have achieved such a remarkable record. The Asian sales were led by the two auctions of wine direct from the Châteaux - Cheval Blanc, Yquem and Dom Pérignon which fetched $2.6 million in May and Lafite Ex Cellars which brought $8.3 million in October.