“Great American” Wine Collection Expected to Earn Big in Hong Kong

HONG KONG—A case of "lusty, meaty" Château Pétrus 2000 is among the lots for sale next month in Hong Kong during Sotheby's fourth installment of "The Classic Cellar from a Great American Collector."

The fourth session of the sale, offering the most valuable wine collection ever to hit the block at Sotheby's, is expected to raise HK$28.5–40.8 million ($3.6-5.2 million). It takes place Jan. 23 at the Mandarin Oriental.

Demand for fine wine has rocketed since wine duties were abolished in February 2008 and Christie's, Sotheby's, and Bonhams resumed regular wine sales in the city. Sales at Hong Kong wine auctions have grown to $47.2 million so far this year, a 75 percent jump over all of 2008, according to government data. An October Sotheby's wine auction in Hong Kong brought in $8 million.