Acker Merrall & Condit Announces May Sales Total Nearly US$15 Million; Hong Kong Auction Achieves Three World Records.(Financial report)

Acker Merrall & Condit, the world's premier wine auction house and America's oldest fine wine merchant, announced its May auction results for Hong Kong and New York. The combined auctions approximated an impressive US$15 million, with Hong Kong sales totaling US$11.67 million, and New York sales totaling US$2,967,894.

John Kapon, CEO of Acker Merrall & Condit, in response to May's sales said, "Our unrivalled selection of rare and great wines was represented by numerous superb private collections, boasting immaculate provenance and outstanding condition. For Hong Kong, we are particularly pleased that the sale's featured collection, which we carefully divided into four different sections in the catalogue, totaled over HK$26.54 million/US$3.4 million, well-above pre-sale expectations. The remarkable success of both of sales is indicative of Hong Kong's continued reign as the world's number one wine hub and New York's market remaining healthy. These high marks also underscores Acker's commitment to bringing the world's best cellars to the world's leading auction markets." Auction Highlights - Hong Kong The successful two-day wine auction held at the Island Shangri-La and Grand Hyatt Hong Kong on May 27th and 28th reached an impressive total of HK$91 Million/US$11.67 Million, with 99% of lots sold. Three world auction records were established including that for a case of 1988 DRC Romanee-Conti, a case of 1982 Chateau Lafleur and a lot of Comte Liger-Belair, one of Burgundy's most storied and famous Domaines. Collectors competed enthusiastically throughout the sale, which offered over 1,100 lots. With collections featuring vintages of the most outstanding Bordeaux and Burgundy winemakers, the star lot was a rare wooden case of 1945 Mouton Rothschild with perfect provenance described as 'one of the immortal wines of the Century' which sold for HK$1,281,000/ US$164,230 after heated bidding. Additional highlights included 15 magnums of 1983-2002 Le Pin, realizing HK$829,600/ US$106,359; two full original wooden cases of the highly sought-after 1988 Romanee Conti in pristine condition achieved HK$829,600/ US$106,359 setting a world auction record for a case of 1988 DRC Romanee-Conti; and an original wooden case of the legendary 1982 Chateau Lafleur attained HK$439,200/ US$56,308, and established yet another world auction record.

Acker Merrall & Condit's Hong Kong fall schedule is slated for September 16-17, November 4-5 and December 9-10. Auction Highlights - New York City Though Hong Kong certainly leads the world wine market, New York's market has been consistently healthy, posting strong results. Acker Merrall & Condit's May 21st auction at Marea restaurant featured 678 lots that realized US$2,967,894 with 96% of lots sold. The top ten lots originated from only three brands, Domaine de la Romanee Conti, Chateau Petrus, and Chateau Lafite Rothschild, confirming the strength and power of these producers. The number one lot, a mixed case of Domaine de la Romanee Conti, fetched a significant total of $46,360.

Acker Merrall & Condit will close the season with two exciting auction events, one totally unprecedented. On June 3rd, Acker will auction two bottles of the world's oldest champagne recovered from the 19th century shipwreck off the Aland Islands of Finland. The final auction of the season will take place on June 25th at a special location, which will be disclosed later this week. About Acker Merrall & Condit Founded in 1820, Acker Merrall & Condit is America's oldest fine wine merchant and the world's largest fine and rare wine auction house. With affiliates in New York and Hong Kong, Acker Merrall hosts over two dozen live and internet auctions annually, and conducts retail operations from its historic headquarters on New York's Upper West Side as well as in Asia. Acker is devoted to helping customers buy, sell, and experience the world's foremost wines.

Keywords: Acker Merrall & Condit, Asia, China, Hong Kong.

This article was prepared by China Weekly News editors from staff and other reports. Copyright 2011, China Weekly News via VerticalNews.com.