Perfect provenance sets 66 World Wine Auction records for Chateau Latour
November 2008
Perfect provenance adds an extra value of between 80% to 150% for OWC (original wooden case) of 12 bottles from superior vintages!
It was a spectacular night for wine collectors who take provenance seriously when Christie’s Hong Kong held its exclusive Chateau Latour “Ex-Chateau” auction on 29th November 2008.
Frédéric Engerer, President of Chateau Latour, said prior to the auction: "These wines have never left the property. For exacting collectors, seeking perfection of provenance, these bottles may be considered as ideal reference points”.
BDXV's Chief Wine Officer sat ringside together with the owner of Chateau Latour, Mr Francois Pinault, and witnessed 66 World Wine Auction records - including record prices for the most sought after vintages like 2005, 2000, 1996, 1990, 1982 and 1961, with a case of 12 bottles of Chateau Latour 1961 selling for HK$1.32 million (132,000 Euros).
Christie's sold an impressive HK$31.54 million (3.15 million Euros) worth of fine wine at this auction, making the total wine auction turnover in Hong Kong HK$180 million (18 million Euros) since May 2008 with HK$136 million (13.6 million Euros) coming from auctions in October and November.
These are all impressive numbers, but even more exciting is the difference in prices that Christie’s achieved for its “Ex-Chateau” lots compared to prices of the same wines auctioned by other auction houses which had mediocre provenance (“second-hand wines" that have travelled around the world and not coming direct from Bordeaux but from private collectors in the UK and the US). Analyzing the prices of all wines auctioned in Hong Kong in 2008 shows that perfect provenance adds an extra value of between 80% to 150% for OWC (original wooden case) of 12 bottles from superior vintages.
Another spectacular confirmation witnessed was that all record prices came from OWC of 12 bottles - the type of packaging BDXV specializes in. Prices of these wines in OWC stored in Bordeaux coming direct from the Chateau are in today’s market highly sought after and true rarities. Auction houses around the world normally don’t deal with these type of wines (as they don’t have access to them) and it is only when specially invited - like in this case for Christie’s – that such gems come up for sale. And when it happens, collectors know how to respond! “I’m surprised by the prices at this auction,” said George Tong, a Hong Kong-based wine collector to Bloomberg, “many lots went for way above their estimates.”
All wines sold by BDXV are stored in Bordeaux and have been stored at the Chateaux or in professional storage facilities in Bordeaux since the time of bottling. BDXV’s wines have never ever been in the hands of private collectors. This gives you the customer the highest level of quality guarantee that the wines you buy have been stored in optimal conditions since the time they were bottled.