Spectrum Wine Auctions Bridged Continents in Third Live Auction to Bring in Over $3 Million at Sale on June 25 in Costa Mesa, Calif & June 26 In Hong Kong
July 1, 2010; Irvine, CA - Spectrum Wine Auctions, the world’s newest high-end auction house of fine collectible wine, brought in a total of $3,020,866 in its third live wine auction, held simultaneously on Friday, June 25 at Charlie Palmer at Bloomingdale’s South Coast Plaza in Costa Mesa, Calif., and Saturday, June 26 at the Peninsula Hotel in Hong Kong.
The dining room at Charlie Palmer in Costa Mesa, Calif. was packed with bidders and spectators who were treated to small plates from the Charlie Palmer kitchen and wines throughout the evening. Bidding was active and spirited on both continents, though the escalation of Asian demand for top-tier collectible wine was evident with the bulk of the lots purchased in Hong Kong. Despite a tremendous rainstorm, the Private Penthouse of the Peninsula Hotel in Hong Kong was filled to capacity and standing-room only. Château Lafite Rothschild continued to perform very well, though there was a significant increase in interest for fellow First Growths from Château Mouton Rothschild and Château Margaux. One collector, who purchased a 12-bottle collection of 1978 Domaine de la Romanée-Conti Romanée Conti for $143,000, also took the auction’s entire 20-lot offering of 2007 Screaming Eagle Cabernet Sauvignon, which sold for a combined total of $87,533.
“Since Spectrum Group International first set up its Hong Kong office in 2009, we have noticed a strong growth trend for a wide variety of collectibles and that the demand for fine wine has proven to be just as solid,” says Jason Boland, president of Spectrum Wine Auctions. “Our June sale demonstrates the potential to tap into emerging markets while continuing to service long-time collectors at stateside.” Spectrum Group International, a Fortune 500 Company, launched its wine auction division last July, held its first wine auction last November and its second live wine auction this April.
Top Ten Lots (by purchase price over pre-sale estimate) include:
1. Lot 535: 12 bottles of 1978 Domaine de la Romanée-Conti Romanée-Conti at $143,400
2. Lot 547: 1 imperial (6L) of 2005 Domaine de la Romanée-Conti La Tâche at $50,787
3. Lot 523: 3 magnums (1.5L) of 2005 Domaine de la Romanée-Conti Romanée-Conti at $83,650
4. Lot 563: 3 bottles of 1978 Henri Jayer Richebourg at $29,278
5. Lot 390: 1 Jeroboam (4.5L) of 1952 Château Cheval Blanc at $16,730
6. Lot 455: 12 bottles of 1961 Château Palmer at $25,095
7. Lot 498: 1 Nebuchadnezzar (15L) of 2005 Château d’Yquem at $14,340
8. Lot 208: 12 bottles of 1982 Château Lafite Rothschild at $47,800
9. Lots 288, 289, 290: 12 bottles of 1982 Château Mouton Rothschild at $16,730, $16,133, and $16,730
10. Lots 131-150: 3 bottles of 2007 Screaming Eagle Cabernet Sauvignon at a combined total of $85,443
Total aggregate: $3,020,866
Percent sold by lot: 93%
Upcoming Auction Calendar
September 24 CA/September 25 HK 2010
December 3 CA/December 4 HK 2010
About Spectrum Wine Auctions
Launched in 2009, Spectrum Wine Auctions is the world’s newest live and online auction house of fine collectible wine.
Following in the grand tradition of its sister auction companies, Spectrum Wine Auctions is a subsidiary of Spectrum Group International, Inc. (SPGZ:PK), a consolidated global collectibles network. The company is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers. Building a strong financial foundation, Spectrum Group International is also a merchant/dealer of certain collectibles and trader of precious metals. The company's collectibles offerings range from the modest to ultra high-end in value and span the globe. Spectrum Wine Auctions is the newest member of the elite Spectrum Group International family. Spectrum Wine Auctions also conducts bi-weekly online auctions through www.spectrumwine.com. The company offers competitive incentives for consignors, including 30-day payouts in full for all lots sold regardless as to whether the firm has collected from each buyer, and the ability to consign both highly-collectible and commonly found wines.
Backed by many decades of auction expertise and driven by a team of dedicated wine specialists and enthusiasts, Spectrum Wine Auctions is committed to offering buyers and sellers alike the most accessible and expansive auction opportunities of what is simply the greatest consumable and collectible product known to man—wine.
For more information on Spectrum Wine Auctions, please call at 949.748.4845 or visit www.spectrumwine.com.