NEWS
HK TYCOON JOSEPH LAU’S CELLAR PART II HAMMERED OUT ACHIEVING HKD52.6MN
By Susan Lewis
19-4-2021
Source: Sotheby's
All the 147 lots of 533 bottles of Hong Kong real estate tycoon Joseph Lau’s Burgundy and Bordeaux collection were hammered out at Sotheby’s Spring Sale Series last Friday, achieving a total of HKD52.6 million (USD6.8mn), doubling its pre-sale estimate.
Dubbed “Wines from the Cellar of Joseph Lau Part II”, last Friday’s offering was the second part of the tycoon’s wine collection. The first part went under the hammer in last October achieving a total of HKD72.8 million (USD9.4mn).
Source: Sotheby's
The top lot from the Part II sale comprises of nine bottles of Romanée Conti 1990 Domaine de la Romanée-Conti. It was sold for HKD3.5 million (USD0.45mn), which is almost three times the lower estimate. (est HKD1.3mn-2mn).
The second most valuable lot was a 6-bottle offering of Vosne-Romanée Cros Parantoux 1985 Henri Jayer, this lot has acheived more than doubled its estimate to bring HKD2mn (USD0.25mn) (est. HKD0.6mn-0.85mn).
Source: Sotheby's
A bottle of Yquem dating back to 1865 quadrupled its estimate, achieving HKD437,500 (USD56,324) (est. HKD65,000 – 95,000).
His last October wine sale with Sotheby’s also achieved very good result, selling for HKD72.8 million (USD9.4mn).
Source: Sotheby's
Other interesting items in the Part II sale include some large format bottles, with 58 on offer, including a range of vintages from Petrus.
Adam Bilbey, Head of Sotheby’s Wine & Spirits, Asia and Europe, says: “The scale and depth of the very finest wines is what sets Mr Lau’s cellar apart from the rest, with an exhaustive inventory from the likes of Henri Jayer, Domaine de la Romaneé-Conti and Petrus.”
(the writer can be contacted at: info@thewinechronicle.com)
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