Wine auction in Hong Kong fetches record 14.4 million US dollars

Nov 7, 2011, 7:41 GMT

Hong Kong - A sale of fine French wines in Hong Kong has fetched 14.45 million US dollars, the highest total for any single wine auction in the world this year, auctioneers said Monday.

The two-day sale of Burgundy wine owned by collector Don Stott on Saturday and Sunday set a total of 145 separate world auction records, according to auction house Acker Merrall and Condit.

A jeroboam, or three-litre bottle, of 1999 Domaine de la Romanée Conti sold for a record 75,077 US dollars.

Another star lot was a 1990 case from the same domain's La Tache vineyard, which fetched 68,821 US dollars - equivalent to 5,735 US dollars per bottle.

The auction total far exceeded estimates and underlined Hong Kong's status as the world's leading destination for wine sales, according to the auctioneer.

Acker Merrall and Condit chief executive John Kapon said: 'We are thrilled with the unparalleled results of the sale, which was the most important Burgundy sale ever.

The sale also proved that 'Chinese wine lovers have diversified their interest and taste in wine appreciating and collecting,' he said.

'This sale has once again underscored Hong Kong's growing status as an international hub of fine and rare wines.'

Hong Kong, which removed all duty from wine sales in 2008, last year sold more wine at auction than New York and London combined, much of it to wealthy collectors from mainland China.