Christie’s auction of Leonardo da Vinci’s Salvator Mundi this week achieved a record sale price of USD$400million, making headline news worldwide
Anne Wetheridge of London Fine Art Studios explained, that the extraordinary value was due to Leonardo da Vinci ‘s status as one of the greatest artists of all time and the rarity of the exquisite Salvator Mundi, reported to be one of only two remaining Da Vinci paintings in private hands, prior to sale.
Extremely rare objects of desire, which are generally the best examples of their specialism, whether fine art, classic cars, vintage watches or fine wine, are coveted by collectors and investors. The sale of the world’s largest diamond ever offered at auction also took place this week in Geneva, also breaking records.
The 163.41-carat flawless D colour diamond, suspended from an emerald and diamond necklace called The Art of Grisogono, sold for 33.5 million Swiss francs ($33.8 million, 28.7 million euros), after taxes and commissions. With a $50million fee for the Salvator Mundi alone it’s not been a bad month for the esteemed auction house.
Fine wine has topped the performance table of ten luxury assets measured by Knight Frank in its luxury index (KFLII) over the last year and it too can point to record sales. But the numbers are more affordable, the market is more transparent as secondary market pricing platforms like Liv-ex report trading values, and the market itself is more liquid.
Data source: HAGI, Stanley Gibbons, Wine Owners, AMR and Fancy Colour Research Foundation.
Fine wine, like fine art, can preserve wealth, but it is also a more manageable and affordable portfolio diversification tool.
Chateau Margaux announced in mid-November that its 2015 vintage will be released in a special commemorative bottle. This comes as no surprise as the famous First Growth has big reasons to mark this special year in its esteemed history.
The bottle, and by association, the vintage is dedicated to the late, great Paul Pontallier who sadly died in March 2015 having been the chateau’s technical and managing director since 1990. He originally joined owner, Corrine Metzelopolous at Margaux, creating one of the industry’s most famous and influential teams, in 1983.
2015 is also the 200th year anniversary of Margaux’s estate and the striking new bottle label features the Chateau’s new ‘chai’, or winery, designed by Sir Norman Foster, which also opened its doors that year.
Chateau Margaux 2015 was also regarded by many key critics and trade merchants as the wine of the vintage following the en primeur tastings in Spring last year, a fitting result for Pontallier’s final legacy.
There is no doubt, Margaux 2015 will be a highly sought after collector’s item and those lucky enough to have acquired the wine en primeur have a potential treasure in their cellar. For more information visit www.vin-x.com and call us on 0203 384 2262.