2005 Romanee-Conti sets new $23,500 auction record in Hong Kong
Three bottles of the 2005 Romanee-Conti vintage highlighted as DRC wines led the sale
Burgundy has againproved that it currently has the edge over Bordeaux following a November 9-10 auction in Hong Kongthat saw Domaine de la Romanee-Conti (DRC)wines dominate, with the 2005 Romanee-Conti seeing some of the strongest results.
New figures reveal Hong Kong as the world's largest centre for wine auctions
Three bottles of the exceedingly rare 2005 vintage sold for $69,385, or $23,275 a bottle,achieving the highest price everseenby the 2005 at auction. However, the top lot of the sale was provided by a 12-bottle case of 1988'sRomanee-Contiin its original wooden case, which brought an impressive $132,462.
Wines from the DRC estate accounted for nine of the top 10 highest selling lots of the auction, with world record prices achieved for Romanee-Conti's 2000, 2001, 2002, 2005, 2006 and 2007 vintages.
Acker Merrall & Condit's CEO, John Kapon, commented: "Domaine de la Romanee-Conti asserted itself this sale as the world's most important producer, and the wine after which the producer is named set an amazing six new world records for six different vintages from the last decade.
"There was strong demand in Burgundy overall, and we also saw considerable interest in the wines from the Rhone, Germany and Italy."
Wine investors have shown new confidence in Burgundyfollowing a particuarly successful harvest in 2010. This has further shaken the ailing Bordeaux's reputation as the leader of the rare and fine wine market.
However, no auction would be complete without an appearance from the legendary Chateau Petrus. The illustrious 1982 vintage topped Bordeaux sales with a 12-bottle case selling for $56,769. A further case of the 1989 vintage followed, bringing $53,615.
The success in Hong Kong follows new figures that show the region as the largest centre for wine auctions in the world, with $230m made from sales in 2011.
Paul Fraser Collectibles continues to bring you the latest news and investment advice from the wine market, so be sure to check back with us regularly.
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