Acker Merrall & Condit December Hong Kong Wine Auction Achieves HK$72.75 Million

. December 19, 2011 . 0 Comments

Acker Merrall & Condit, the World’s leading wine auctioneer and America’s oldest fine wine merchant, concluded another record year in Asia with its two-day Hong Kong sale held on 8 & 10 December 2011 in which over 800 lots were offered and a total of HK$72.75M/US$9.09M achieved with 92% sold. This spectacular result contributes to Acker Merrall & Condit’s 2011 annual Hong Kong sales total of HK$537M/US$69M, attesting to once again its #1 position and leadership in the wine auction market in Asia. With expected global revenues in 2011 of over US$110 million, Acker’s resounding result will top the market in America and the World as well, altogether representing the ‘Triple Crown’ in the global marketplace.

Acker has also become the first wine auction house to break the US$100 million yearly mark in wine auction history.

John Kapon, CEO of Acker Merrall & Condit Companies said, “2011 was a spectacular year for Acker Merrall & Condit. The amazing result of this sale – starring three legendary and compelling superlots of verticals of Mouton Rothschild, Pétrus and Romanée Conti – is a fitting round-up of another record-setting vintage for Acker in Hong Kong. This year, not only will we acquire #1 positions in the market of Asia, America and the World, but also become the first wine auction house in history to break US$100 million in annual sales. Our tremendous success and continual lead in the global wine market has largely built upon the robust momentum of Hong Kong, now the world’s most important fine wine market. We are enthralled that another triumphant year in Asia is now ending on a high note with this remarkable sale, where we witnessed strong bidding for the star lots, especially over the vertical of Romanée Conti, which is now the most expensive wine lot sold in any auction anywhere this year.”

The Search for the Holy Grail – Three Superlots
This trilogy of mega-verticals created sensation amongst bidders in saleroom, over the telephones and on the internet. The crown jewel, a Superlot of 55 bottles of every vintage of DRC Romanée Conti released from 1952 – the first post-World War II vintage of Romanée Conti – through to 2007 (with exception of the 1968 which was never released by the Domaine) sold for a staggering, record-breaking price of HK$6,344,000/ US$813,333 (Lot 650) to a Chinese collector over the telephone. This is the highest price achieved for a single lot at any wine auction anywhere in the world this year, as well as the highest price ever for any lot of Romanée Conti sold at auction.

Equally noteworthy was another Superlot: a vertical Château Mouton Rothschild assembling 101 vintages starting with the rare 1867 and includes numerous, practically non-existent pre-war vintages, and every vintage from 1936 to 2008 (Lot 648). This exceedingly rare offering sold for an impressive HK$3,904,000/ US$500,513 after a highly intense bidding battle.

The third superlot: a Château Pétrus vertical comprising 57 vintages, beginning with the legendary 1945 and including every vintage made from 1959 to 2007 (Lot 649) fetched HK$1,952,000/US$250,256, setting the highest price ever for any lot of Pétrus sold at auction. It incorporates almost every single vintage made at the Château in that period. Each bottle is packaged in a separate original wooden box bearing the Château emblem and the vintage branded into the wooden case.

Cases of Rare Vintages of DRC Romanée Conti
The prestigious Romanée Conti collections were highly sought after by discerning collectors. Rare case lots of Romanée Conti were offered, with the legendary 1962 in an original wood case commanded HK$1,586,000/ US$203,333 (Lot 650A, illustrated right). The array of great Romanée Conti continues with cases of rare vintages. Highlights included a 12-bottle case of 1989 (Price: HK$829,600/US$106,359, Lot 644), two 12-bottle cases of 1988 (Price: HK$780,800/US$100,103 each, Lots 642-643), 6 bottles of 1990 Romanée Conti (Price: HK$732,000/US$93,846, Lot 645).

Bordeaux
An exceptional array of Bordeaux was also presented in the sale. The star lot was 12 bottles of 1982 Pétrus in a wooden case (Price: HK$488,000/US$62,564, Lot 641).

Acker Merrall will conduct its next Hong Kong auction on 13 & 14 January 2012. They will conduct one more auction in 2011 in New York, on 17 December at Marea restaurant.

Category: Auction News

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