Rare fine wine and whisky prices are breaking more records in Q4 2018. Newsfeeds about record-breaking sales of rare fine wine and Scotch whisky for six and seven figures are almost starting to feel routine and trade press have commented again on two such events at the end of November 2018.
Sotheby’s has just published the details of a record-breaking sale in their Hong Kong retail shop of a collection of seven Methuselahs (6-litre bottles) of Domaine de la Romanée Conti, Romanée Conti 2005 for a record breaking sum of US$1.5million. The appetite for fine wine in Asia continues to grow and establishing a retail store has proved to be a highly positive move for the auction house, which has seen 30% growth year on year in its HK outlet since launch in 2014.
The demand for scarce top quality fine wine continues unabated and this sale follows on from the landmark auction earlier this year of rare DRC wines from the private cellar of the late Burgundy winemaker, Robert Drouhin. On that occasion two 75cl bottles of 1945 Domaine de la Romanée Conti, Romanée Conti sold individually at auction for £424,000 (US$558,000) and £377,000, (US$496,000) respectively.
The global demand for these rare, exceptional wines continues to drive price growth as new wealth from emerging economies enters the market and also investors are seeking ‘safe havens’ for their capital in uncertain times.
When we commented on the sale of the 1945 DRCs in October this year we also touched on the Sotheby’s sale at that time of a rare special edition bottle painted by Sir Peter Blake of 1926 Macallan which sold for a record US$843,200 (£641,000). This was one of a series painted by Blake but the ‘Holy Grail’ of whisky was auctioned by Christies in London last week. This unique, one-off bottle of the same 1926 Macallan was painted by the Irish artist Michael Dillon and achieved a world record for a single bottle (75cl) of spirits or wine sold publicly anywhere, raising a staggering £1.2million (US$1.5million).
This is a unique bottle, the only one to be decorated by Dillon, and uniqueness obviously enhances value, and demonstrates the value of the active secondary market for these rare wines and spirits with buyers willing to pay extraordinary values.
We currently have some superb rare fine wine, including Screaming Eagle, DRC and Henri Jayer which will provide the perfect Christmas present for the serious wine collector and, if held for the right period of time, will provide excellent returns over the long term. Call us now for more information on 0203 384 2262.