Beaune Burgundy Auction Shatters Records

In an extraordinary event last week, the wine world witnessed a series of record-breaking sales in Beaune, Burgundy, France. The high-profile auction, organized by Sotheby's, amassed a staggering 2 million euros, setting multiple world records. This remarkable auction was exclusively dedicated to Burgundy wines from the legendary collection of Taiwanese businessman Pierre Chen.

The event was held at the historic Couvent des Cordeliers in the heart of Beaune, attracting bidders from 29 countries, both in person and online. The standout lot of the auction featured six bottles of Chevalier Montrachet d'Auvenay 2009, which sold for an impressive 106,250 euros. Another significant sale was a lot of 12 bottles of Domaine Armand Rousseau Chambertin Clos de Bèze 1990, which fetched 100,000 euros, surpassing its highest estimate by 67%. Additionally, 12 bottles of La Tâche 1990, estimated at 30,000 to 40,000 euros, were sold for 81,250 euros.

Shattering Records

The auction was notable for setting eight new world records, reflecting the exceptional value and desirability of the wines on offer:

• Three bottles of DRC Échezeaux 2005 reached 10,000 euros per bottle, more than double the previous record.
• Three bottles of DRC Montrachet 2007 sold for over 15,800 euros per bottle, a 50% increase from the previous record.
• A magnum of DRC La Tâche 2005 set a new benchmark at 35,000 euros.
• Three bottles of DRC La Tâche 2014 were sold for more than 9,100 euros each.
• Twelve bottles of Rousseau Chambertin Clos de Bèze 1990 achieved 8,300 euros per bottle.
• Twelve bottles of Rousseau Chambertin 2009 sold for over 5,700 euros per bottle.
• Six bottles of Rousseau Gevrey Chambertin Clos St Jacques 2010 fetched 3,900 euros per bottle.
• Three bottles of Domaine Leroy Chambertin 2011 sold for more than 16,600 euros each.

George Lacey, head of Sotheby's Wine Division in Asia, highlighted the significance of these record prices set in the 13th-century cellars of the Couvent des Cordeliers. Lacey remarked that the fervent bidding, both in-person and online, at the "Live In The Vines" auction in Beaune underscored the extraordinary quality of Pierre Chen's wines, captivating seasoned wine collectors globally.

Sotheby's anticipates reaching a historic milestone of 50 million dollars by auctioning Pierre Chen's wine collection, described as "the largest, most important, and most valuable wine collection ever to come to market." This vast collection, accumulated over 40 years, comprises approximately 25,000 wines. Among the highlights are two six-liter methuselahs of DRC La Tâche 1985, a six-liter imperial of Petrus 1982, and a magnum of Château Latour 1961.

The sale, dubbed "The Epicurean's Atlas," has been divided into several auctions held in Hong Kong, Beaune, and New York. On June 20th, the collection of fine and rare champagnes reached total sales of 1.35 million euros at Sotheby's in Paris. Highlights included three magnums of Salon Le Mesnil Blanc de Blancs 1990, sold for 25,000 euros, and a magnum of Dom Pérignon P3 1966, which fetched 23,750 euros, more than doubling the previous world record. The Paris auction also claimed three additional world records for champagne sales.

Pierre Chen, founder of Yageo Corporation, a major producer of electronic components for mobile phones, computers, and automobiles, is ranked 498th on Forbes' 2024 list of billionaires with an estimated fortune of 6.2 billion dollars. Chen's discerning eye for exceptional wines has resulted in a collection that not only embodies luxury and rarity but also continues to set new standards in the wine auction market.

The recent auction in Beaune is a testament to the enduring allure and prestige of Burgundy wines. With record-breaking sales and unparalleled quality, Pierre Chen's collection has captured the attention and admiration of the global wine community. As Sotheby's continues to unveil more of this extraordinary collection, the anticipation and excitement within the wine world remain palpable, promising more historic moments in the auctions to come.