Mon, Apr 06, 2009 - Page 12 News List

Chateau Latour sells for US$62,000 at HK auction

AFP , HONG KONG

A 6-liter bottle of 1961 Chateau Latour fetched US$62,000 at Sotheby’s first wine auction in Hong Kong, a spokesman said.

The imperial bottle, the equivalent to eight regular bottles, sold for HK$484,000 to a private Asian bidder at the auction, a Sotheby’s spokesman said.

It had been expected to fetch between HK$266,000 and HK$363,000.

All 750 lots at Saturday’s auction were sold fetching a total of HK$49.9 million, with more than 90 percent of lots beating the pre-­auction estimate, the spokesman said.

‘SPECTACULAR’

Serena Sutcliffe, head of Sotheby’s international wine department, said the sale had been a “spectacular” success.

“The results are a wonderful reflection of the quality of the lots that we offered and also of the incredible appetite in Asia for coveted wines with excellent provenance,” she said.

Sutcliffe added that there were many buyers from mainland China at the sale.

Wine has become increasingly popular in Asia in recent years, and Hong Kong has tried to establish itself as the region’s wine hub.

Last year, the city abolished all duty on importing wine. The move has attracted some of the world’s top auction houses to start sales in the territory.

The wine auction was the first sale of Sotheby’s spring auction here, which will see paintings, antiques and gems go under the hammer.

The company is hoping the sale will fetch more than HK$600 million.

WARNING: EXCESSIVE CONSUMPTION OF ALCOHOL

CAN BE DAMAGING TO YOUR HEALTH

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