Sotheby’s Spring 2011 Sales of Two Private Wine Collections Achieve a Combines Total of US$17.5 Million

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HONG KONG.- Sotheby’s Hong Kong concluded today the two-day sale of The Ultimate Cellar with triumphant results of HK$96.8 million / US$12.4 million, well in excess of high estimate (HK$77.4 million / US$9.9 million*). The top lot, a case of Romanée Conti 1990, was sold for HK$1.8 million / US$232,692. Strong prices were seen in the best vintages from top Burgundy producers, demonstrating the increasing appeal of Burgundy in Asia. Sotheby’s three-day sale series – The Classic Cellar from A Great American Collector VII and The Ultimate Cellar – saw strong bidding throughout Asia. Passionate online bidding also contributed to our success, maintaining our record 100%-sold rate and marking the 15th consecutive “white glove” wine sale by Sotheby’s Hong Kong in Asia since 2009. The three-day sale series also brought the combined total of Sotheby’s Hong Kong wine sales series in 2011 to an impressive HK