NEWS
FIRST TRANCHE OF PIERRE CHEN’S 25,000-BOTTLE SALE ACHIEVED USD16.8M
By Siulan Law Mathews DipWSET
29-11-2023
Source: Sotheby's
The first tranche of the 4-part sales of Taiwan collector Pierre Chen’s 25,000 bottles of fine wine collection has achieved USD16.8 million in an auction hosted by Sotheby’s in Hong Kong over the weekend.
His collection could be the most valuable wine collection ever come to the auction market with estimated top value of USD50 million.
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.
Source: Sotheby's
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.
Source: Sotheby's
Head of Sotheby’s Wine Asia, George Lacey, said the first sale in the series attracted collectors from across the world, from across Asia to the USA and the UK.
“This first sale really was a top-to-bottom roll call of the greatest wines that have ever been made. The highlights are too many to mention, but reigning supreme among the red Burgundies were Domaine de la Romanée-Conti and Henri Jayer, with white Burgundies of extraordinary maturity in close proximity to the top spot,” said Lacey.
Source: Sotheby's
Other lots included five magnums of Faiveley Musigny from vintages spanning 2015 to 2019, which were produced from Pierre Chen’s own vineyard in Burgundy, sold for a combined total of HKD787,500, while six bottles of Cheval Blanc 1947 were sold for HKD375,000.
Chen is the founder of the Taipei-based electronic component manufacturer Yageo Corp, he has been collecting art and wines for over 40 years.
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 over the weekend, 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.
(the writer can be contacted at: info@thewinechronicle.com)
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