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Cognac Auction Prices at Record Levels

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Exceptional Prices for Cognacs and Wines

It seems that there is an insatiable demand for high quality wines and spirits at auction houses around the world, especially those in Asia who are not only experiencing 100% sales but also at record prices.

Last September a world record was set in Hong Kong for a bottle of 1858 cognac which sold for US$156,700, whilst more recently at Sothebys in London, Asian buyers pushed the Top 10 lots comfortably over their high estimates. Bidding was particularly strong on-line, accounting for an increase of 15% of sales against 16% in the room.

Sales of wines at Sothebys in Singapore recently achieved US$8m and included an American collection which contained a case of 1982 Pètrus for US$65,950, three double magnums of 1982 Lafite for US$56,000 and a case of 1982 Lafite for US$36,600. Bidding was very strong in all the top lots.

This year Bonhams in Hong Kong will be auctioning a bottle of 1888 (triple 8) cognac at their sale in May, this is a highly sought after cognac and it may achieve another record.

Watch this space!