58 | INVESTMENTS
Liv-Ex put Haut Brion in third place with an 8.5 percent value increase, followed by Mouton Rothschild climbing 7.2 percentage points also between September and October, 2010. Back in 2008 the Liv-ex 100 Fine Wine Index lost 22 percent of its value between August and December. And why was that? The banking collapse hit wine investment hard just as it did so many investment areas. However, just two to three years later we are seeing a remarkable recovery and growth, with strong demand for the finest wines as demonstrated by this 2010 Lafite Ex-cellars sale. Going a little further back to the 1982 vintage,
Lafite leapt up an impressive 26 percent a year over an eight-year period, more than triple that of rival Château Mouton Rothschild, which rose just 8 percent a year. The strong and increasing demand from China is having its effect fuelling the demand, and while U.S. and European collectors have traditionally purchased and laid down wines in their cellars for 20 years or more before drinking it or selling it on, the Asian trend is to drink it younger. This is affecting the fine wine market in two different ways: demand is pushing up the value of newer vintages, and the rarer vintages are becoming increasingly rare and more valuable. Returning to what Sotheby’s called
their wine sale of the year, these trends are clearly demonstrated. However, while Lafite’s position at the top seems unassailable, the great château has its challengers, with Bordeaux rival Château Petrus in strong demand, its edge being that it adds greater scarcity value to its price due to its smaller production output. Three lots of 12 bottles from the 2000 Petrus vintage fetched US$49,900 each at this sale. The Lafite Ex-cellars sale also broke some
world records, with three bottles of Château Lafite-Rothschild 1869 becoming the world’s most expensive wine sold at auction, achieving HK$1,815,000 for each bottle (US$232,692)— estimate HK$40,000-65,000. Seven bottles made in excess of HK$1 million and the 284-lot sale brought a total of HK$65.5 million (US$8.4 million), tripling Sotheby’s high estimate. ■
TPC LIFE & LEISURE
Top 10 Lots, Lafite Ex-Cellers Sale, October 29, 2010 NAME
ESTIMATE (HKD)
Lot 190, Château Lafite 1869 (1bt)
Lot 188, Château Lafite 1869 (1bt)
Lot 189, Château Lafite 1869 (1bt)
Lot 187, Château Lafite 1870 (1bt)
Lot 167, Château Lafite 1959 (1 jero-5 liter)
Lot 186, Château Lafite 1870 (1bt)
Lot 184, Château Lafite 1899 (1bt)
Lot 183, Château Lafite 1899 (1bt)
Lot 133, Château Lafite 1982 (1 imperial-6 liter)
Lot 130, Châteâu Lafite 1982 (12 bts)
Lot 129, Château Lafite 1982 (12 bts)
40,000-65,000 40,000-65,000 40,000-65,000 80,000-160,000 240,000-400,000 80,000-160,000 40,000-65,000 40,000-65,000 200,000-420,000 280,000-500,000 280,000-500,000
REALIZED PRICE
HK$1,815,000 (233,972 USD) HK$1,815,000 (233,972 USD) HK$1,815,000 (233,972 USD) HK$1,331,000 (171,579 USD) HK$1,331,00 (171,579 USD) HK$1,331,000 (171,579 USD) HK$1,210,000 (155,981 USD) HK$1,210,000 (155,981 USD) HK$1,149,500 (148,182 USD) HK$1,028,500 (132,584 USD HK$1,028,500 (132,584 USD
© COURTESY OF SOTHEBY’S
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