Displaying items by tag: Lafite

Wine valued at up to $8.3 million, including a 300-bottle collection of Chateau Lafite-Rothschild spanning every year from 1981 to 2005, is scheduled for sale at Christie’s in Hong Kong this week.

The London-based house estimates the 25 cases of the Bordeaux first-growth wine, which it says have been kept in pristine condition, may fetch as much as HK$4.5 million ($575,400), or almost $2,000 per bottle. At that price, it would be the most expensive single lot of wine auctioned this year.

Demand from Asian collectors and investors has helped boost values of investment-grade vintages as wine has rebounded from losses sustained during the 2008 financial crisis. The Liv-ex 100 fine wine index has held on to the 6.8 percent gain it made in the first quarter of this year amid volatility in other markets, and is up 19.3 percent over the past 12 months.

“I’m struck each time I go to mainland China by the groundswell of demand,” Charles Curtis, Christie’s head of wine sales for Asia, said in a telephone interview from New York. “There’s nothing but upside to this trend.”

Christie’s is also offering a 3-liter jeroboam of Romanee- Conti DRC 1971 Burgundy which it says may sell for as much as HK$320,000.

A six-liter imperial of Lafite 2003 carries a high estimate of HK$100,000 while six bottles of 1911 Moet & Chandon Champagne are also being included as a single charity lot, with the potential to fetch as much as HK$500,000. The auction is taking place on Sept. 3 and Sept. 4.

Lafite Imperials

At a separate Hong Kong sale being mounted by New York- based house Zachys on Sept. 9 and Sept. 10, a collection of Lafite imperials covering the years 1995 to 2003 is up for sale, along with Chateau Mouton-Rothschild from a California collector.

Bonhams in London will feature two lots of Romanee-Conti Domaine de la Romanee-Conti Burgundy in its Sept. 8 sale. One, comprising 12 bottles of the 1990 vintage, carries an estimate of as much as 120,000 pounds ($196,500) while 12 bottles of the 1988 carry a top estimate of 80,000 pounds.

At Sotheby’s (BID) London sale on Sept. 14, Romanee-Conti and Lafite also top the bill. Two cases of Romanee-Conti 1988 DRC are on offer at a top estimate of 70,000 pounds each while two cases of Lafite are also on sale carrying a top estimate of 40,000 pounds. The auction also features Lafite 1986 and Chateau Latour 1982.

China’s growing ranks of millionaires are set to buoy sales at Sotheby’s (BID) spring auction in Hong Kong as collectors seek Qing Dynasty porcelain, Chateau Lafite wines and multi-million-dollar paintings.

The event may bring in as much as HK$2.4 billion ($310 million), said the New York-based auction house. The eight-day marathon, from tomorrow to April 8, features two private European collections of ceramics and contemporary art, including an 18th-century Chinese vase worth more than $23 million.

“The rarest, most important and finest work is this Falangcai vase,” Giuseppe Eskenazi, one of the world’s foremost Chinese art dealers, said. “This is good if not finer than what’s in the Beijing Palace Museum as well as in Taiwan in the National Palace Museum.”

Hong Kong’s first major sale of the year will show that rising wealth in China is continuing to drive demand, dealers said. It has 3,600 lots, about 1,000 more than last April’s auction in the city, which took a record HK$2.29 billion and revived prices in most categories to pre-credit-crisis levels. China overtook the U.S. as the world’s biggest auction market for fine art last year, according to research company Artprice, benefiting from the support of its government in Beijing.

The “Golden Pheasant” vase was one of the personal objects belonging to the Qianlong emperor. It goes on sale on April 7 as the highlight of the Meiyintang collection of 80 works that is estimated to fetch as much as HK$940 million.