Zachys’ January Hong Kong Auction Exceeds $71 Million
Super Lot of 48 Bottles of 1999 DRC Sells For HK$1,830,000
Zachys Asia, Limited held the first wine auction of 2011 on January 8 at the Mandarin Oriental, Hong Kong, with smashing success. DRC, Chateau Petrus and Chateau Lafite Rothschild stole the show, though the auction also contained the largest amount of California wines offered in any Hong Kong auction to date. Zachys’ largest one-session auction in Hong Kong yet was also its largest in value, with 1007 lots totalling HK$71,438,930 (US$9,217,926) and selling at a rate of 99%. Over 250 bidders crowded the scene at the Mandarin Oriental, and these in-room buyers accounted for nearly 75% of the lots sold. The pre-sale auction estimates were HK$42,541,200-64,331,000 (US$5,489,187-8,300,774).
Lots offered: 1007
Percent sold: 98.9%
Price with buyer’s premium: HK$71,438,930 / US$9,217,926
* Conversion rate: US $1 = HK $7.75