First Wine Auction of the Year in Hong Kong realizes HK$35 Million!

A Superlot of DRC La Tâche Achieves HK$1.84 Million!

New World Auction Record for Single Bottle Lot of Champagne

      chinawinenews   Hong Kong – Acker Merrall & Condit’s first Fine and Rare Wine Auction of 2009 was held in Hong Kong today (28 March) and realized an impressive total of HK$35 Million (US$4.5 Million), with 96% sold by lot and 95% by value.  A new World Auction Record was set for a bottle of Champagne when the ultra-rare Krug Collection Vintage 1928 from the legendary Robert Rosania Collection fetched HK$164,560 (US$21,097) after fierce bidding .

       The sale presented an amazing array of over 1,000 lots of wines and champagnes, with some rarities dating back to the 1900s. The saleroom at the Island Shangri-La Hotel was packed with international wine collectors who competed enthusiastically for nearly 5,800 bottles of the world’s greatest and most sought-after vintage champagnes and wines. In addition, there was spirited bidding activity over the internet with live bidding, available for the first time in Hong Kong. Of these lots, 768 bottles were in large formats, including some exceptionally large sizes of 9, 12, 15 and 18 liters which are rarely seen at auction.

       “We are delighted with the excellent results of today’s sale,” said John Kapon, Acker Merrall & Condit’s President and Auction Director. “The sale clearly underlined the continuing strong interest in Hong Kong for the finest and rarest wines. The strong results vindicated our strategy to bring older and rarer vintages to the Asian market for the first time. The market has stabilized in 2009 and the sale represented a perfect opportunity for collectors to acquire some of the rarest and most treasured wines with impeccable provenance.”

       “As America’s oldest fine wine merchant and the world’s leading wine auction house, we are delighted that Acker Merrall & Condit continues to be the market leader in Asia. Our client base is growing rapidly with the majority from Hong Kong but also from the region – Korea, Japan, Taiwan, China, Singapore and Indonesia – as well as the USA and Europe. We are fully committed to contributing to the development of Hong Kong as the wine hub of Asia. We look forward to conducting our next sale in Hong Kong on 30 May, in only 2 months’ time.”

       Leading the sale was a Superlot of 132 bottles of Domaine de la Romanée-Conti La Tâche from the best 11 vintages between 1985 and 2003, all in original wooden cases and in mint condition, which achieved HK$1,840,000 (US$235,897) .

        Another Superlot comprising 21 magnums of vintage 2003 from all the great vineyards of Domaine de la Romanée-Conti, including Echezeaux, Grands Echezeaux, La Tâche, Richebourg, Romanée Conti, Romanée St. Vivant and Montrachet, all still in their original banded wooden cases, sold for HK$871,200 (US$111,690) to the same buyer.

       A superb selection of the world’s finest and rarest vintage Champagne from the collection of Robert Rosania attracted enormous interest and realized fantastic prices. Krug Collection Vintage Champagne, one of the most sought-after and legendary Champagnes ever to have been produced, achieved spectacular prices. Highlights included a bottle of Krug Vintage 1966 Champagne Blanc de Blancs which fetched HK$140,360 (US$17,994) and a bottle of Krug Collection Vintage Champagne 1938 sold for HK$135,520 (US$17,374).

       A legendary collection of ancient Bordeaux and Burgundy in various formats and from many of the best vintages also achieved strong prices. Top lots in the Burgundy section were a Methuselah of Domaine de la Romanée-Conti 1999 which realized HK$411,400 (US$52,744), and three magnums of Domaine de la Romanée-Conti 1999 which fetched HK$411,400 (US$52,744). A bottle of 1949 vintage Chateau Pétrus sold for HK$33,880 (US$4,343); while a magnum of Pétrus 1961 realized HK$130,680 (US$16,753). A lot of six bottles of Rousseau Chambertin 1934 from the private cellar of Doris Duke was a further highlight, selling for HK$133,840 (US$17,159).
 
       About Acker Merrall & Condit
       Founded in 1820, Acker Merrall & Condit is America's oldest fine wine merchant and the world’s leading wine auction house.  The company is also the biggest wine auction house in America with a total of over US$60 million achieved in 2006, 2007 and 2008. Operating in New York and Hong Kong, 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.  In recent years, the company has greatly expanded its services to Education, Tastings and Wine Clubs. 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.