The much anticipated Sotheby's sale of The Andrew Lloyd Webber Wine Collection held last weekend at the Mandarin Oriental, Hong Kong, achieved an outstanding total of HK$43.3m (US$5.6m) which far exceeded the high estimate (HK$21.8-32m/US$2.8-4.1m/£1.8m-2.6m).
The 6-hour sale was 100% sold by value and by lot, adding to the success of Sotheby's Hong Kong in maintaining the twelfth consecutive 100%-sold wine auction in Asia in the last 21 months - making a total of 7,306 lots sold.
The saleroom was filled to capacity with spirited and jovial bidding from all over Asia - in the room, on the telephone and via the internet - demonstrating the strong enthusiasm for the classic French wines from this great collection.
The sale featured over 740 lots which were stored in the temperature controlled cellars of Lord Lloyd Webber's 16th century home, Sydmonton Court, while many younger wines came from professional storage. The highlights included First Growths in key vintages such as 1982, 2000 and 2005.
Unsurprisingly all the winning bidders for the top ten lots were private Asian collectors. The top price was for a 12 bottle lot of Chateau Petrus 1982, which brought HK$605,000 (US$77,564) against a HK$320,000-480,000 listing.
An 11 bottle lot of the same vintage brought HK$459,800 (US$58,949), beating its HK$280,000-420,000 estimate, as did a 12 bottle lot of Lafite from the same year.
Lord Lloyd Webber, commenting after the sale: "I hope the new owners enjoy my wines as much as I have and lookforward to reacquainting myself with them in restaurants all over China when Catsstarts its national tour in Mandarin."
Serena Sutcliffe M.W., Head of Sotheby's International Wine Department said: "This was a tremendously exciting sale which reflected the great quality and range of Andrew Lloyd Webber's cellar.
Top Bordeaux and red Burgundy really 'took off', but it was particularly warming to see knowledgeable Asian buyers snapping up the fabulous white Burgundies from what must be the best selection so far offered in the region."
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