Christies

‘Christie’s removes suspected fake DRC from New York auction’

Posted by WineInvestment.org on June 03, 2013
Cult Wines Ltd News / No Comments
Romanée-Conti


Christie’s have announced that a suspected fake magnum of 1962 La Tâche was removed from its fine and rare wines auction taking place in New York over 30 and 31 May. The respective wine had a top estimate of US$24,000 excluding buyer’s premium.

‘The lot in question has been withdrawn from sale to allow time for in-person inspection by additional third-party experts,’ said a Christie’s spokesperson.

Aubert de Villaine, co-owner of Domaine de la Romanée-Conti, is said to have welcomed the decision, and after seeing a photo of the wine, he said there were ‘justified doubts’ over some aspects of the labelling and bottle cap.’It is therefore right that Christie’s has withdrawn [this wine] from sale pending a more complete expert opinion,’ he told Decanter.com.

Don Cornwell, lawyer and Burgundy collector was the first person to raise initial doubts regarding the authenticity, which he did via a forum post on the Wine Berserkers website.

He also speculated that the magnum may have originated from alleged wine fraudster Rudy Kurniawan, due to the identical defects to several of the pre-1978 DRC bottles sourced by Kurniawan.

Source: www.Decanter.com

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Burgundy reigns in NY and HK

Posted by WineInvestment.org on May 29, 2013
Uncategorized, Wine Market News / No Comments
vosne


Burgundy wines generated the highest sales figures at Acker Merrall & Condit’s New York sale and Christie’s Hong Kong auction last week.

Wines from the commune of Vosne-Romanée reportedly attracted the most interest.

Cases of 2009 Liger-Belair la Romanée, a collection of 1996 Domaine de la Romanée-Conti and six bottles of 1996 Henri Jayer Cros Parantoux tied for first place at US$29,520 apiece, while a three bottle case of 2004 Romanée-Conti went for $27,060.

Acker Merrall also observed that there was “ongoing diversification occurring in the marketplace.” Evident due to solid bidding for the Spanish and Italian lots.

CEO, John Kapon, commented “The 2013 auction market remains healthy, with collectors worldwide continuing to seek out Burgundy and Bordeaux’s great winemakers and vineyards. Another important trend this year is that both older and recent vintages are being sought after by clients worldwide.

“Our next Hong Kong auction is only a week away. We are thrilled to be celebrating our 5th Anniversary auction and have packed the sale accordingly with some superb collections.”

Elsewhere, in Hong Kong four Methuselahs of 1983 DRC went for HK$976,000 at Christie’s sale.

Six bottles of DRC Romanée-Conti 1997 (HK$854,000), a further six again of Henri Jayer Echézeaux 1978 (HK$854,000) and a six-pack of DRC Romanée-Conti 1999 (HK$793,000), securing Burgundy’s command over the distribution of sales.

Pétrus fared well at both auctions, where four cases of the 1982 were in the top lots at the Christie’s sale , generating over HK$500,000 each, superseding their estimations of HK$350,000.

Simon Tam, Christie’s China head of wine, said: “These results illustrate the wine market‘s continuing demand for Bordeaux and investible grades of wines from all over the world.

www.drinksbusiness.com

 

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Chateau Mouton-Rothschild magnums raise $3.96 million at auction

Posted by WineInvestment.org on May 21, 2013
Cult Wines Ltd News, Wine Market News / No Comments
Mouton Magnums Back to 1945 Fetch $266,000 at Christie’s


Sixty-six magnums of Chateau Mouton-Rothschild dating from 1945-2008 were sold at a Christie’s International Plc auction in Geneva last week, fetching a total of $3.96 million.

Other wines auctioned included a case of Vosne-Romanee Cros Parantoux 2000 Henri Jayer, which made 64,350 francs, and 12 bottles of Le Pin 1989 Pomerol, which generated $46,800.

According to Christie’s online auction results, three magnums of Cros Parantoux 1995 Henri Jayer sold for 37,440 francs, as well as Domaine de la Romanee-Conti assortment case from each of the years 1985 and 1996 for 35,100 francs and 30,420 francs respectively.

Reassuringly the Liv-ex Fine Wine 50 Index is still up 5 percent since the beginning of this year, however a 3 percent decline was observed since mid-March due to investors focusing on the Bordeaux 2012’s.

Source: http://www.bloomberg.com

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Henry Tang Burgundy collection raises $6.2 million at auction

Posted by WineInvestment.org on March 19, 2013
Wine Market News / No Comments
christies


Henry Tang, Hong Kong based wine collecting dynast has sold HK$48 million ($6.2 million) from his collection of more than 800 lots of Burgundy wine during a two-day Christie’s International (CHRS) Hong Kong wine auction. The top lot of six magnums of Romanee Conti Domaine de la Romanee Conti 1995 sold for HK$1.2 million.Tang famously became involved in a scandal resulting in him losing a bid to become the city’s chief executive last year. This scandal involved the building of an illegal basement built at his house, which contained a gym, movie theatre and wine cellar.Tang was an integral figure involved in pushing for the dropping of wine imports in 2008, which consequently aided the cities transformation into becoming one of the worlds key destination markets for fine-wine auctions.The auction beat a pre-sales estimate of HK$29 million, which is reflective of the fact that this market is switching from Bordeaux to rare Burgundy following the Bordeaux price slump.

 

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Government cellar to be auctioned by Christie’s

Posted by WineInvestment.org on March 11, 2013
Wine Market News / No Comments
Obama Drinking Wine


Christie’s have announced that they will be auctioning wines from the UK government’s cellar on the 21st of March at King Street.

Rare lots include: six bottles of Latour 1961, six bottles of 1970 Pétrus, a case of Mouton Rothschild and a case of 1986 Le Pin. In total they have been estimated to raise as much as £65,000.

Foreign Office Minister Mark Simmonds said in the statement:  “I warmly welcome this auction of wine from the Government Wine Cellar. This is part of the process for making the cellar self-funding for the lifetime of the current parliament.”

Christie’s international director of wines, David Elswood, said: “This is a truly rare opportunity for buyers to have the chance to pull the cork from a bottle of very fine wine that comes with the unique storage provenance of the Government Hospitality Fund’s very own cellars.”

Susan Crown, a Foreign Office spokeswoman also commented saying that: “These vintages are too valuable to drink,” “It was never the intention to buy expensive wine. Their sale will help pay for the running of the cellar and the purchase of less expensive ones.”

However, high quality French wines will continue to be served at functions, Crown commented that “When President Obama comes to dinner, you can’t serve him Lambrini. ”

Source: www.Drinksbusiness.com / www.Bloomberg.com

 

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