Prices Soared at Spectrum Wine Auctions' December 5 Sale in Hong Kong, Tallying $4.4 Million; Spectrum Wine Finishes Its First Full Year of Auctions With an Impressive $17.7 Million in Sales

IRVINE, Calif., Dec. 17, 2010 /PRNewswire/ -- Spectrum Wine Auctions, which launched in July 2009, has deftly positioned itself as one of the world's leading wine auction houses. On December 5, the firm completed its first year of sales with the 2010 Winter Rare Wine Auction at The Sheraton Hong Kong Hotel & Towers. Bidding was extremely competitive in the packed auction room, and the sale realized $4,439,080 USD (HKD 34,519,173) against a pre-sale estimate of $3.5 million USD (HKD 27.2 million) with 99.4% of the lots on offer sold. Since hosting its first live sale in November of 2009, the auction house's five sales have brought in over $17.7 million USD (HKD 136.6 million).  

The December sale featured half of an important private U.S. collection called "The Doctor's Pristine OWC Collection," consisting of over 16,000 bottles and 1,500 original wooden cases purchased en premier and never moved from the consignor's temperature and humidity-controlled warehouse. The sale included 60 lots of Chateau Lafite Rothschild, 43 lots of Sine Qua Non Syrah and Grenache, 43 lots of Chateau d'Yquem, and 33 lots of Romanee Conti, Domaine de la Romanee Conti. The second half of the collection will be sold by Spectrum Wine in March 2011.

Spectrum Group International (SGI), a Fortune 500 Company, launched its wine auction division in July, 2009. As Spectrum Wine Auctions celebrates its first anniversary of live auctions, it also recently expanded its staff with the appointments of former Zachys Wine Auctions property specialist Walker Strangis and former WineBid.com account manager Powell Yang to director of consignments positions.

For more information on Spectrum Wine Auctions, please call at 949.748.4845 or visit www.spectrumwine.com.

SOURCE Spectrum Wine Auctions