80 lots of Domaine
de la Romanée-Conti sell to frenzied
bidders for $1,084,821, topping pre-sale estimate by a quarter of a million dollars
(October 3, 2011; IRVINE, CA)—Spectrum Wine Auctions, a California-based
auction house of fine and rare wine, realized nearly US$6 million (HK$46.5
million) at its latest live auction, held September 24 and 25 at the Grand
Hyatt Hong Kong. Lively competition amongst bidders in the room, as well as
worldwide via telephone and Internet, resulted in 95 percent of the lots
selling.
The
star of the two-day auction was rare Burgundy, with Domaine de la Romanée-Conti
leading in the auction’s top lot sales. A total of 80 lots of Domaine de la
Romanée-Conti estimated at US$830,000 (HK$6,461,467) sold for US$1,084,821
(HK$8,445,223). A lot consisting of three magnums of 1985 Domaine de la
Romanée-Conti Romanée Conti, sold for US$89,625 (HK$698,000) against a pre-sale
estimate of US$50,000 (HK$390,000). Domaine de la Romanée-Conti assortment
cases also proved to be a hot commodity: a 1999 assortment case sold for
US$41,825 (HK$326,000) against a pre-sale estimate of US$27,500 (HK$215,000)
and a 2001 assortment case sold for US$26,888 (HK$209,000) against a pre-sale
estimate of US$19,000 (HK$150,000).
Large
formats, a highlight of the auction, also performed well. An imperial (6L) of
2005 Château Pétrus with a pre-sale estimate of US$45,000 (HK$350,000) fetched US$59,750
(HK$465,000). An imperial of 1996 Château Lafite Rothschild sold for US$19,120
(HK$149,000) against a pre-sale estimate of US$14,000 (HK$109,123), breaking
the current record, according to The Wine Market Journal. A magnum of 1985 H. Jayer Richebourg, sold for US$23,900 (HK$185,225),
over $10,000 more than the pre-sale estimate of US$12,000 (HK$95,000).
·
Lot
1227: 12 bottles of 1982 Château Pétrus at US$56,763/HK$441,894 (estimate: US$50,000/HK$390,000)
·
Lot
1959: one imperial (6L) of 1982 Château Lafite Rothschild at US$38,838/HK$302,349
(estimate: US$35,000/HK$275,000)
·
Lot
217: 12 bottles of 1961 Château Mouton Rothschild at US$32,863/HK$256,000
(estimate: US$22,500/HK$175,000)
·
Lot
1298: 12 bottles of 1997 Le Pin at US$16,730/HK$130,000 (estimate: US$9,500/HK$75,000)
·
Lot
410: 12 bottles of 2008 Château Latour at US$14,340/HK$112,000 (estimate:
US$10,000/HK$77,500)
·
Lots
596–597: 1990 Domaine de la Romanée-Conti assortment case at US$47,800/HK$372,118
(estimate: US$45,000/HK$350,000)
·
Lot
1643: four bottles of 1985 H. Jayer Vosne Romanée Cros Parantoux at US$26,888/HK$209,320
(estimate: US$22,500/HK$175,000)
·
Lot
510: 10 bottles of 1830 Malmsey Madeira at US$9,560/HK$74,423 (estimate:
US$8,000/HK$62,500)
·
Lot
258: 12 bottles of 1990 G. Conterno Barolo Riserva Monfortino at US$8,963/HK$69,776
(estimate: $3,750/HK$30,000)
Total aggregate: US$5,977,473 (HK$46,608,748)
Percent sold by lot: 95%
The
packed room at the Grand Hyatt saw scores of Spectrum Wine regulars, as well as
a notable showing of new bidders, and many devotees who resorted to
standing-room-only during the more popular sections. Bidders on the live
auction floor were treated to the skillful auction style of Richard Brierley, head of fine wines at Vanquish Ltd., who
kept the crowd entertained while the lots flowed. A bidders-only
Champagne brunch livened the room on Sunday, with Dom Perignon and Cristal on
every table, and other top-notch wines being sampled in the room including 1982
Château Cheval Blanc, 2000 Château Haut-Brion, 2002 Château Ausone, Harlan,
Screaming Eagle and more.
The
big action was not limited to the auction room, however, as approximately
one-third of the total bids were placed via Spectrum Wine
Auctions’ state-of-the-art online bidding software. Video and audio from the
auction were broadcast live online, enabling worldwide bidders to place their
bids in real time, bidding directly against the auction floor. Bids were also
placed on iPhone and iPad devices, via Spectrum Wine’s recently launched iOS
app.
“Our
auctions truly are a global event, and we make every effort possible with our
cutting edge Internet technology to bring the auction from Hong Kong into the
living rooms and offices of our clients who are unable to make the trip,” said
Spectrum Wine Auctions President Jason Boland. “This way our customers, no
matter where they are in the world, will never miss their chance on any lot
that goes up on the block.”
Spectrum Wine Auctions Upcoming Live Auction Calendar:
- The
Winter 2011 Auction, December 3 and 4, 2011, Grand Hyatt Hotel, Hong Kong
- In
partnership with Vanquish Wines Ltd., February 2012, London
About Spectrum Wine Auctions
Spectrum Wine Auctions is a subsidiary of Spectrum Group International, Inc.
(SPGZ:PK), a consolidated global collectibles network. The
company is a leading auctioneer of stamps, coins, and other memorabilia,
targeting both collectors and dealers. Building a strong financial foundation,
Spectrum Group International is also a merchant/dealer of certain collectibles
and trader of precious metals. The company's collectibles offerings range from
the modest to ultra high-end in value and span the globe. Spectrum Wine
Auctions also conducts semimonthly online auctions through www.spectrumwine.com.
The company offers competitive incentives for consignors, including 30-day payouts
in full for all lots sold regardless as to whether the firm has collected from
each buyer, and the ability to consign both highly-collectible and commonly
found wines.
Backed by many decades of auction expertise and driven by a team of dedicated
wine specialists and enthusiasts, Spectrum Wine Auctions is committed to
offering buyers and sellers alike the most accessible and expansive auction
opportunities of what is simply the world’s greatest consumable and collectible
product—wine.
For more information on Spectrum Wine Auctions, please call at 949-748-4845 or
visit www.spectrumwine.com.