sotheby’s 2011 wine sales bring $85.5 million

8/3/2019 Sotheby’s 2011 Wine Sales Bring $85.5 million

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New YorkNew YorkNew YorkNew York | +1 212 606 7176 | Dan Abernethy | [email protected]

Hong KongHong KongHong KongHong Kong | +852 2822 8129 | Winnie Tang | [email protected]

Sotheby’s 2011 Wine Sales Bring $85.5 millionSotheby’s 2011 Wine Sales Bring $85.5 millionSotheby’s 2011 Wine Sales Bring $85.5 millionSotheby’s 2011 Wine Sales Bring $85.5 million

--Highest London Sales Total Ever--

-- Second Highest Worldwide Wine Total Ever --

Sotheby’s sale of The Andrew Lloyd Webber Wine Collection in Hong Kong in January

FRIDAY, 16 DECEMBER, 2011FRIDAY, 16 DECEMBER, 2011FRIDAY, 16 DECEMBER, 2011FRIDAY, 16 DECEMBER, 2011 – Sotheby’s Wine auctions in 2011 brought an overall global total of

US$85,467,096; this is almost equal to last year’s figure of $88.27 million. The 2011 figure is the second

highest in the company’s forty-one years of wine auctions. This year, 23 wine auctions were held worldwide,

comprising 13 in London, six in Hong Kong and four in New York. The sales saw a strong average sell

through rate by value of 96%.



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London wine sales realised a combined total of $27,191,060, the highest annual total in Sotheby’s forty-one

years of wine sales in London, an increase of 30% on the 2010 total of $20.97 million. Hong Kong wine sales

brought $44,737,594 and New York wine sales $13,538,442.

Serena Sutcliffe MW, Worldwide Head of Wine at Sotheby’s said: “This is a great worldwide result, the second

highest total of Sotheby's wine history and, for London sales, the highest total ever achieved since the start of

the department in 1970. We had some tremendous single owner collections in London and Hong Kong and we

continue to find remarkable collections with perfect provenance. Five out of the six Hong Kong sales were white-

glove, 100 per cent sold, and in Hong Kong and New York total sales exceeded their high estimates. Bordeaux

remains the backbone of classic wine auctions but top-end Burgundy is highly sought after, with buyers from

every corner of the globe. We continue to help clients build up fabulous personal cellars and look forward to an

exciting sales calendar in 2012.”

In Hong Kong in January, the much anticipated sale of The Andrew Lloyd Webber Wine Collection

achieved an outstanding total of HK$43.3 million / US$5.6 million, far exceeding the high estimate. The six-

hour auction was 100% sold by value and by lot, with over 96.8% of lots sold fetching prices in excess of their

high estimates. The two-day April sale of The Ultimate Cellar brought a total of HK$96.8 million / US$12.4

million, the second highest total of any wine sale at Sotheby’s.

In New York, the March sale was 100% sold and totalled $2.3 million. One of the biggest highlights was a

Melchior (18 litre bottle) of Château Cheval Blanc 1995, which sold for $45,375 against an estimate of

$5,000-7,000 to a South American Private Collector. The November auction included Hermitage La

Chapelle 1952 – 2009 directly from the cellars of Paul Jaboulet Aîné, with superb prices achieved for this

iconic Rhône wine. The top lot of the sale was for six bottles of the 1961 vintage, which brought $102,850.

In London, the two‐day wine sale in June, featuring An Impressive Private Collection, realised £2.3 million /

$3.8 million. The sum achieved established the third highest total for a Sotheby’s wine sale in London since

the new millennium. A new world auction record for Le Pin 1982 was set when six magnums soared above

the pre‐sale estimate to bring £80,500 / $131,553.

Upcoming wine auctions in early 2012 include Finest and Rarest Wines Including the Bordeaux Winebank

Collection in Hong Kong on 14 January14 January14 January14 January, Finest and Rarest Bordeaux: A Magnificent Private Collection in

London on 25 January25 January25 January25 January and Finest and Rarest Wines in New York on 25 February25 February25 February25 February.



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Statistics in USDStatistics in USDStatistics in USDStatistics in USD

Location Pre-Sale Pre-Sale US $ % to # SoldAvgLot Sold

Low Estimate High Estimate ValueLow

Estimate Lots Value $% byValue

Hong

Kong $28,606,712* $41,299,275 $44,737,594 156% 4,402 $10,163 98.6%London $24,631,063 $30,985,117 $27,191,060 110% 7,637 $3,560 91.6%

New York $8,863,650 $12,571,800 $13,538,442 153% 4,009 $3,377 97.4%

Worldwide $62,101,425 $84,856,192 $85,467,096 138% 16,048 $5,326 96.0%

Sales 2009 Sales 2010 Sales 2011HongKong $14,289,713 $52,618,399 $44,737,594

London $14,841,403 $20,974,207 $27,191,060

New York $12,716,985 $14,677,996 $13,538,442

Worldwide $41,848,101 $88,270,602 $85,467,096

# # #

*Pre-sale estimates do not include buyer’s premium

Notes to EditorsNotes to EditorsNotes to EditorsNotes to Editors

The Lafite Ex Cellars sale held by Sotheby’s in Hong Kong in October 2010 set a new record for a single standardsized bottle at auction when a bottle of Château Lafite 1869 sold for $232,692. This means that Sotheby’s now holdsSotheby’s now holdsSotheby’s now holdsSotheby’s now holdsthe world records for a standard bottle, a bottle in any formatthe world records for a standard bottle, a bottle in any formatthe world records for a standard bottle, a bottle in any formatthe world records for a standard bottle, a bottle in any format - the Jeroboam of Château Mouton Rothschild1945 which fetched $310,700 in February 2007 in New York – and any wine lot at auctionand any wine lot at auctionand any wine lot at auctionand any wine lot at auction – 50 cases of ChâteauMouton Rothschild 1982 which sold for US$1,051,600 at Sotheby’s New York in 2006.

Between 2009 and October 2011 Sotheby’s Hong Kong maintained 16 consecutive 100%-sold wine auctions in Asia –the only major auction house with this record. The sale of The Classic Cellar From A Great American Collector Part VIII marked over 10,000 consecutive lots sold since Sotheby's began wine sales in Hong Kong.

sotheby’s 2011 wine sales bring $85.5 million

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