DoubleMag 1870 Lafite sells in HK Auction - some lots unsold

http://mobile.bloomberg.com/news/2012-01-15/bordeaux-go-unsold-as-price-qualms-weigh-on-18-7-million-hong-kong-sales?category=%2Fnews%2Fworldwide%2F

Double Magnum 1870 Lafite sold for ~ $63K

Is the Far East Market slowing for top French wines?

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I noticed that many Lafites in Acker Merril’s last monthly internet auction got no bids - maybe just because a few very active previous bidders did not participate? But the live auction seemed to do OK. I had a lot of 7 Lafites, different vintages, but they only sold for the reserve, as did 4 Moutons. OTOH, Leroy, Rousseau, and DRC went for more than the reserve, so maybe there is a general shift toward Burgundy?

This is the line that dropped my jaw…

“A 42-bottle lot of seven vintages of Screaming Eagle Cabernet Sauvignon fetched HK$829,600 at Acker Merrall & Condit”

Really … almost 20k per bottle? If only I had jumped on the SE list in high school I wouldnt have had to study, go to college or get a job, just could have sold my wine and retired. :slight_smile:

Robert,
It does bear noting that those prices are in HK $, not US $.

That’s still $2,500+ per bottle.

True, but that’s basically what one pays at retail in U.S. for that wine these days, isn’t it? Plus, I suppose one could add-in a bit of a premium for the OWC (at least, I assume the lot was for 7 six-bottle OWC’s).

Oops guess I should have spent More time studying!

I have to say that in the Lafite 1870 does not look expensive for what it is, I have seen cases of Lafite 1982 go for more. .

Really good point Mark. When I read the headline, I thought “can that be real?” But reading that this was ex-Chateau settled that question. I bet that wine is drinking fabulously right now, given the provenance and the size of the bottle. The wine was still not ready in the 1930s, from what I’ve read.

The market for Bordeaux is finally slowing.

Ryan,

Even if that’s true we may only see price increases slow, not stop. rolleyes

. . . just don’t tell Hong Kong about German Riesling! for God’s sake!!! [wink.gif]

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