Sotheby’s NY fine wine auction racks up $4.8m
Sotheby’s two-day Fall Wine Auctions event in New York held on September 25 and 26 brought in more than $4.8 million (£3.2 million) in gross proceeds, with increasingly rare vintages from Burgundy, Bordeaux and the Rhone standing out.
The first day sale was anchored around three ‘outstanding’ collections, featuring 100 years of mature Bordeaux in multiple formats.
Perennial heavy-hitter Domaine de la Romanee-Conti saw a three-bottle lot of its 1990 vintage grab $39,200, just shy of the upper pre-sale estimate. Two 12-bottle lots of Lafite 1982 brought in $29,400 each, also at the upper estimate.
Various Latour, Armand Rousseau and Petrus wines also fetched respectable sums, but the star of the night was undoubtedly a special lot – The Krug 1915 Tasting Experience. This special item includes a unique two-day visit to the House of Krug in Reims, France, for four people, in addition to a bottle of Krug 1915, of which only four are left in the world. The lot sold for $116,375, whereas bids had started from $15,000.
“The opportunity to drink a 100 year old bottle of Krug that will never have left their cellars drew bidders from four continents demonstrating the extraordinary lengths Sotheby’s clients will go to pursue the world’s rarest wines and unique experiences,” Jamie Ritchie, chief executive of Sotheby’s Wine, Americas & Asia, said as quoted by thedrinksbusiness.com.
Overall, the first day of Sotheby’s sale brought in over $3 million, while the second day, which featured only the “Magnificent Selection from the Exceptional Cellar of James H. Clark, Part II”.
The sale, “one of the greatest collections of wine ever offered by Sotheby’s”, featured 366 lots, including some of the most sought-after vintages in the world. A 12-bottle lot of 1999 Corton Charlemagne from JF Coche-Dury fetched $42,875, well above the upper estimate of $20,000. Ermitage 1991, Cuvée Cathelin, from Jean-Louis Chave, 1970 Vega Sicilia Unico and 1989 DRC also attracted significant interest. The auction brought in a total of $1.8 million.
Sotheby’s next New York sale is on October 17 and will feature the ex-cellar offering from Chateau Margaux.