Bloomberg News

Hermitage to Lead Sotheby’s Hong Kong Sale With Cros Parantoux

August 02, 2013

Hermitage La Chapelle wine from the cellars of Rhone producer Paul Jaboulet Aine dating back to 1949 will lead Sotheby’s (BID:US) sales in Hong Kong next month along with vintage Burgundies including Romanee-Conti and Cros Parantoux.

Six bottles of Hermitage La Chapelle from 1961 are estimated to sell for as much as HK$380,000 ($49,000) while a 12-bottle case of Hermitage 1978 is priced to fetch as much as HK$220,000. Among Burgundies, a 10-bottle lot of Vosne-Romanee Cros Parantoux 1999 from Henri Jayer carries a top estimate of HK$360,000, according to an e-mailed Sotheby’s statement.

Older Burgundy vintages from producers such as Romanee-Conti and Jayer have driven demand, while appetite for Bordeaux has been less consistent. At a Sotheby’s London sale on July 17, Jayer accounted for the three top lots, all of them going to Asian buyers.

Jayer prices were “doubling or trebling their estimates,” Stephen Mould, head of Sotheby’s European wine department, said after last month’s auction. “The diversity of the sale yet again shows the interest in wines from a variety of top wine regions.”

Jayer, who died in 2006, has become one of Burgundy’s most sought-after wine-makers. His Cros Parantoux, from a 2.5-acre (1 hectare) premier cru vineyard that was an artichoke field in World War II, has acquired trophy status, with a case of the 1985 vintage fetching as much as HK$2.06 million at a Christie’s International Plc sale in Hong Kong in February 2012.

Romanee-Conti

The Sotheby’s auction on Sept. 7 comes as the Liv-ex Fine Wine 50 Index of top Bordeaux vintages has risen 4 percent this year, with declines since mid-March following a gain of 8 percent in the first 10 weeks of the year.

Other lots in the Hong Kong sale include a single bottle of Romanee-Conti 1990, estimated to fetch as much as HK$140,000, and a bottle of the 1999 vintage from the same vineyard with an upper estimate of HK$100,000.

Here is a list of global wine auctions scheduled so far this year. Dates may be subject to revision, and links are to auction house sale catalogs and websites.

AUGUST:

Aug. 31:         Christie’s, Hong Kong

SEPTEMBER:

Sept. 7:         Acker Merrall & Condit, New York
Sept. 7:         Sotheby’s, Hong Kong
Sept. 7:         Zachys, Hong Kong
Sept. 12:        Christie’s, London
Sept. 12:        Bonhams, London
Sept. 13/14:     Acker Merrall & Condit, Hong Kong
Sept. 14:        Bonhams, San Francisco
Sept. 18:        Sotheby’s, London
Sept. 20/21:     Sotheby’s, New York
Sept. 19/20:     Zachys, New York
Sept. 21:        Hart Davis Hart, Chicago
Sept. 26:        Christie’s, Shanghai

OCTOBER:

Oct. 4:          Sotheby’s, Hong Kong
Oct. 5:          Acker Merrall & Condit, New York
Oct. 11:         Christie’s, New York
Oct. 23:         Sotheby’s, London
Oct. 24:         Bonhams, London
Oct. 24:         Christie’s, London
Oct. 24/25:      Zachys, New York
Oct. 25/26:      Acker Merrall & Condit, Hong Kong
Oct. 26:         Hart Davis Hart, Chicago

NOVEMBER:

Nov. 7:          Christie’s, London
Nov. 13:         Christie’s, Geneva
Nov. 13:         Sotheby’s, London
Nov. 21:         Acker Merrall & Condit, New York
Nov. 21:         Bonhams, Hong Kong
Nov. 22          Christie’s, Hong Kong
Nov. 22/23:      Zachys, Hong Kong
Nov. 23:         Bonhams, San Francisco

DECEMBER:

Dec. 6/7:        Zachys, New York
Dec. 7:          Christie’s, New York
Dec. 7:          Hart Davis Hart, Chicago
Dec. 11:         Sotheby’s, London
Dec. 12:         Bonhams, London
Dec. 12:         Christie’s, London
Dec. 13/14       Acker Merrall & Condit, Hong Kong
Dec. 18:         Acker Merrall & Condit, New York

To contact the reporter on this story: Guy Collins in London on guycollins@bloomberg.net

To contact the editor responsible for this story: Mark Beech at mbeech@bloomberg.net


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