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Delhi Wine Club
Hong Kong: Burgundy Starts Shining in HK Auction

Posted: Monday, 19 September 2011 12:57

Hong Kong: Burgundy Starts Shining in HK Auction

Sep 19 : Although the Chinese thirst for top quality wines from Bordeaux is unabated, there has been a continuously increasing influence on Burgundy sales, as predicted by delWine last year, showing that even the Laffite lovers may have started realizing there is life beyond Bordeaux, with record case prices fetched last weekend by 1988, 1990 and 1996 vintages of DRC Romanée Conti at the Hong Kong Auction by leading auctioneer Acker Merral and Condit which sold 98% of the lots aggregating to about US $12 million.

Taking the lead was a record price of over US$297,000 for a case of 12 bottles of 1990 of DRC Romanée Conti by an anonymous Hong Kong caller on telephone, presumably for a Chinese client or for a Hong Kong collector for safe-keeping till he finds another buyer at even higher price in future. Each bottle sale translates roughly to the cost of a dozen Tata Nano cars.

John Kapon, CEO of Acker Merral & Condit is naturally ecstatic by the results of this sale. ‘All this talk about the market cooling off is just talk – at least when it comes to our auctions. The results demonstrate our continued market leadership, as well as the tremendous demand and passion in Asia for the world’s best wines,’ he said.

Kapon whose company might be a holder of record of sorts for auctioning the maximum value of Bordeaux wines auctioned in Hong Kong during the last two years, is as optimistic and bullish about Burgundy as delWine has been. Praising the sophisticated Asian customers and betting on an increasing share by the Burgundy wines, he says, ‘Their passion for the great wines of Bordeaux has grabbed numerous headlines over the years, but this Fallis going to be all about Burgundy. The passion and interest in Burgundy is generating rapidly in every new sale, and the mainland is just starting to discover the greatness of the region. Our next sale on November 4-5, featuring the collection of Don Stott, the world’s foremost collector of Burgundy will be a benchmark sale that will change the market forever.”

A case of the coveted 1996 DRC Romanée-Conti at US$163,000 set a world auction record for a case of 1996 DRC Romanée-Conti. Equally noteworthy was a parcel of 1988 DRC Romanée-Conti, whose first lot sold for over US$150,000, achieving a world auction record for a case of 1988 DRC Romanée-Conti.

White wines of Burgundy also commanded a very good price with a rare full case of 1996 DRC Montrachet bid and auctioned for over US$68,000.


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