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Lafite Leads $347 Million Hong Kong Sale

Frederik Balfour San Francisco Chronicle 10/01/2011 18:38
Lafite Leads $347 Million Hong Kong Sale - Sotheby’s - Hong Kong - Wine - auction

Eight days after global equity markets lost $3.5 trillion in a week, Sotheby's begins a Hong Kong sale of wine, art and jewels that will test the strength of China's growing market for luxury goods.

(...) The latest series starts on Oct. 1 with rare wines, including six-liter Imperials of Chateau Lafite Rothschild from 2000 that are expected to sell for as much as $20,000 each and three liter jeroboams of Cristal champagne from the cellars of a private American collector worth $6,000.

Domaine de la Romanee-Conti burgundy wines from 1988 costing as much as $10,000 for a standard 75 centiliter bottle will be offered the following day.

Jamie Ritchie, the head of Sotheby's Asian wine sales, said he is keeping his fingers crossed that the auction house will achieve another sell-out auction in Hong Kong, where it hasn't had an unsold bottle in its last 15 sales.

Debra Meiburg, a Master of Wine who attended a private tasting of Bordeaux from 2000 yesterday hosted by Sotheby's, says demand for classic French reds remains resilient.