Home RSS
Real Estate

Romanee-Conti 1990 Burgundy Fetches Record $297,400 at Hong Kong Auction

San Francisco Chronicle 09/21/2011 23:44
Romanee-Conti 1990 Burgundy Fetches Record $297,400 at Hong Kong Auction - Hong Kong - Wine - auction - lifestyle

A rare case of Romanee-Conti 1990 Domaine de la Romanee-Conti Burgundy sold for HK$2.32 million ($297,400) in Hong Kong, a price auction house Acker, Merrall & Condit said set a world saleroom record for that vintage.

The wine was sold to a Hong Kong collector bidding by telephone, and capped a two-day auction ended Sept. 17 attended by 400 buyers in which HK$91.87 million went under the hammer.

Demand for top Burgundy comes as wine auction houses have seen buying interest this year from Chinese collectors for Bordeaux first-growth wines such as Chateau Lafite-Rothschild, even as prices for investment wine have cooled amid global volatility in stock and bond markets. Leading Burgundies are produced in much lower volumes, and so can command higher prices per bottle for the best vintages.

"This fall is going to be all about Burgundy," said John Kapon, Acker's chief executive officer, in an e-mailed statement after the sale in China's wine hub.

A similar 12-bottle case of Romanee-Conti 1990 DRC sold for 126,500 pounds ($201,900) at Bonhams in London on Sept. 8.

Acker said producer records for their vintages were also set by a case of 1988 Romanee-Conti DRC, which fetched HK$1.17 million, and a 1990 Vosne Romanee Cros Parentoux Henri Jayer, which sold for HK$732,000.