NEWS
FIRST TRANCHE OF PIERRE CHEN’S WINE SALES TOPPED SOTHEBY’S WINE & SPIRITS AUCTIONS IN 2023
By Susan Lewis
16-4-2024
Source: Sotheby's
The first tranche of Taiwanese businessman Pierre Chen’s collection was Sotheby’s most valuable wine and spirits auction in 2023, having achieved USD16.8million.
Asia was the leading market for Sotheby’s wine and spirits auctions, holding 42 percent of buyers, led by Hong Kong, which contributed USD22m to the total.
Sotheby’s achieved USD159m in wine and spirits auctions worldwide last year, the third year in a row it has hit a new high, the auction house reported.
Taiwanese collector Chen is selling off his 25,000 bottles of fine wine collection, his collection could be the most valuable wine collection ever come to the auction market with estimated top value of USD50m.
To maximize value, Sotheby’s is selling the collection in five sales spread across Asia, Europe and North America, these auctions are collectively dubbed “The Epicurean’s Atlas” a testament to Chen’s culinary passions.
After the first auction in Hong Kong in November 2023, the next sale will take place in July 2024 in Beaune France called “Live in the Vines” and in Paris titled “The Ultimate Champagnes”.
The third auction will be held in New York in September 2024 called “Around the Globe”.
And the fourth auction will again be held in Hong Kong in November 2024 dubbed “The Zenith”.
A Sotheby's sale in London will also feature some of Chen’s wines, along with some from other consignors.
Auction of first tranche, dubbed “Epicurean’s Atlas: The Encyclopaedic Cellar”, achieved USD16.8m.
The best performing lots included 10 bottles of Vosne Romanée Cros Parantoux 1999 Henri Jayer, sold for HKD1.875 million (USD240,488), which is the highest price ever achieved for this wine at auction.
Also sold for HKD1.875m were 12 bottles of Chevalier Montrachet 2007 Domaine d’Auvenay.
A lot of three magnums of La Tâche 1971 Domaine de la Romanée-Conti had exceeded its high estimate to fetch HKD1.25m, setting a new auction record for magnums of this wine.
(the writer can be contacted at: info@thewinechronicle.com)
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