Second Highest Ever Total Achieved for any Wine Auction in Asia

Close to 90% Sold by Lot and Value

A Superlot of 12 Cases of Romanée Conti 'Assortments'
Achieves HK$2.13 Million

New World Auction Record for Krug Grande Cuvée

Hong Kong - Acker Merrall & Condit's Fine and Rare Wine Auction held in Hong Kong today (15 November 2008) realized a spectacular total of HK$52 Million (US$6.7 Million), and was nearly 90% sold by lot and value.  This is the second highest total for any wine auction held in Asia, second only to their 31 May Auction, which achieved HK$64 Million (US$8.2 Million). This brings the total of Acker Merrall & Condit's sales in Hong Kong for the year to a staggering HK$116 Million (US$15 Million).

Bidding was enthusiastic throughout the sale at the Island Shangri-La Hotel with wine collectors from around the globe competing vigorously for the 970 lots on offer of the world's greatest and most sought-after wines and champagnes.

"We are indeed very pleased with the excellent results today which achieved strong prices at all levels, in view of the current economic climate,"said John Kapon, Acker Merrall & Condit's President and Auction Director. “The sale today was a clear indication that the wine market in Asia, and specifically Hong Kong is still seeing very strong demand for the finest and rarest wines in the world. Our sale attracted enormous interest among wine collectors from Asia and international buyers who want the best of the best.  As America's oldest and finest wine merchant, we are delighted that Acker Merrall & Condit continues to be the market leader in Asia.  We are fully committed to contributing to the development of Hong Kong as the wine hub of Asia and we look forward to our next auction in Hong Kong in March 2009."

An original case of 1990 DRC La Tache jeroboams, bottle numbers 00001, 00002, and 00003, sold for HK$919,600 (US$118,628) and three magnums of 2005 DRC Romanée Conti fetched HK$726,000 (US$93,654).There was active bidding for a rare case of 12 bottles of 1992 Screaming Eagle Cabernet Sauvignon which realized HK$871,200 (US$112,384).

The 30 lots from the legendary collection of Wolfgang Grunewald were 100% sold.  Among the highlights from the collection were a case of 12 bottles of 1990 DRC Romanée Conti in their own wooden case which realized HK$1,064,800 (US$137,359), and six magnums of 1990 DRC La Tache in their own wooden case that fetched HK$459,800 (US$59,314). Three double magnums of 1989 Château Pétrus in their original wooden case sold for HK$411,400 (US$53,070). The Wolfgang Grunewald cellar is one of the last great cellars of the 20th century and the 30 lots on offer represented a ."Who's Who." of the top Châteaux and Romanée Conti.

Two unique Krug champagne lots offered in the sale realized fantastic prices. The first consisted of one Full Cage of Krug Grande Cuvée containing 504 bottles and fetched HK$590,480 (US$76,171) after active bidding, setting a world auction record for Krug Grande Cuvée.  Krug Grande Cuvée is a blend of some of the finest Krug vintages and reserve wines of the past 20 years. The successful bidder not only secured the 504 bottles but also the Cage itself. This lot was a World Première and has never before been commercially available (illustrated right).

Another lot was a tribute to Krug 1998, the last vintage of the 20th century declared by Krug, being released internationally in November 2008, and achieved HK$396,880 (US$51,197).  The tribute case is a single 6-pack Custom OWC case containing 1 bottle of Krug Vintage 1998, 1 bottle of 1998 Krug Clos du Mesnil, 1 bottle of Krug Vintage 1988, 1 bottle of Krug 1988 Clos du Mesnil, 1 bottle of Krug Collection Vintage 1938 (Bottle Number 8) and 1 bottle of Krug Collection Vintage 1928 (Bottle Number 8). Each bottle had been in the Krug Cellars since original disgorgement (illustrated left). This unique lot has never been commercially available before, and was created especially as a tribute to the release of Krug 1998 and Acker Merrall & Condit.  As part of this tribute to Krug 1998, the successful bidder on this lot and a companion will be flown from a Major City to Paris First Class, courtesy of Krug, and will then be transported to Reims, where they will be welcomed exclusively by Krug for a one-night, two-day discovery of the maison.