Petrus for over $30k a bottle

Prestige fine wine market is alive and kicking, especially driven by American and Asian buyers

From Sotheby’s 

25 February 2017

A Wednesday fine wine sale in London featuring a private collection totalled £1,716,922 (over $2.1m), exceeding the £1.5 million top estimate.

Lots found buyers across 21 countries, led by the UK, Hong Kong and Russia.

An Imperial (6 litre) of Petrus 1989 achieved £28,200, the highest price of the sale. There was keen competition for both mature and young Bordeaux and sought-after Burgundy producers such as Armand Rousseau and Domaine du Comte Liger-Belair.

Stephen Mould, Head of Sotheby’s Wine, Europe, commented: “The sale was very strong across the board with the result comfortably exceeding the high estimate. “A Superb Private Collection” led the sale and featured mature Bordeaux from a damp cellar.

While the storage may have affected the labels, demand for these gems saw intense global bidding, particularly from the UK and Asia. The collection included some fabulous Burgundy with rare Rousseau rocketing several times over the high estimate. Parcels of vintage port from this section also saw spirited bidding together with younger vintages of Bordeaux available in depth. Other collections in the sale were eagerly sought after, resulting in a superb start to the London wine auction season.”

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