Christie’s single owner fine wine sale raises US$28 million

Christie’s New York has set a new world record for a single owner wine sale sold in North America after the Cellar of William I. Koch raised US$28.8 million – nearly twice its minimum estimate. The renowned US wine collector’s cellar, which had been expected to raise a minimum of $15 million, comprised 1,500 lots collected by the billionaire industrialist over his lifetime, which included “significant quantities of the world’s most historic and collectible wines”, the auction house said. The sale at Christie’s Rockefeller Center included more than 750 large-format bottles and historic vintages from Bordeaux and Burgundy estates, along with a “significant selection” of wines from Champagne, the Rhône Valley, Italy, and the New World The highlight of the sale proved to a Methuselah of 1999 Domaine de la Romanée-Conti, Romanée-Conti, which sold for $275,000, followed by a lot comprising three Magnums of the same wine, which more than doubled its high estimate to achieve $237,500. Large-format bottles performed exceptionally well, Christie’s said, and there were some outstanding results for Burgundy, notably for Chambolle-Musigny-based Domaine Georges Roumier, who “emerged as a standout”, exceeding its high estimates in multiple lot. Its Bonnes Mares 1985 (6 Magnums) for example, sold for doubled its high estimate, achieving US$200,000, while a magnum of Bonnes Mares, Vieilles Vignes 1988 achieved nearly ten times it low estimate, achieving $87,500, nearly ten times its low estimate. Eight bottles of Domaine Leroy, Musigny 1999 raised US$187,500, with six magnums of 1961 Château Latour sold for $187,500. According to Christie, bidders came from across the world, and was also multi-generational, with 42% of registrants for the sale being new to wine auctions at Christie’s. Adam Bilbey, Christie’s Global Head of Wine & Spirits said he was thrilled with the outcome of the “once-in-a-generation sale”. “This magnificent selection attracted collectors of all ages from across the globe, and we were delighted to see incredible competition online on Christie’s Live, from the phone and in the room for the entire duration of the three-day sale,” he said. “This simultaneously celebrates the vision and legacy Mr. Koch leaves in world of fine wine and heralds the successful return of Christie’s Wine auctions to New York City.”