Lloyd Weber auctions his wine collection worth several millions on the Asian market

Tuesday, 25. January 2011 | 08:20 Uhr | A.WIRTZFELD | AUCTION
Translator: E.MEISSNER
2011_01-webber-01

CHINA (Hong Kong) - The British composer Andrew Lloyd Webber will put his multi-million dollar wine collection in Hong Kong up for auction this weekend. The creator of musicals such as Jesus Christ Superstar, Evita, Cats, Starlight Express, Phantom of the Opera, to name a few, thinks that ultra-rich Asians, inspired by his wines, will bid accordingly. And that will be the case – his cult wines collected over the years, are just that what the luxury markets in Asia expect.

 “The fact that the wine collection of Lloyd Webber is now auctioned in Hong Kong, underlines Asia’s rise on the global wine scene,” said Serena Sutcliffe, head of the wine department at Sotheby’s. “Collectors come from the entire Asian region, including Taiwan, Singapore and Indonesia, as well as the really big hitters from the People’s Republic of China, buy all kinds of luxury brands. They take action when such an exclusive collection like that of Lloyd Webber is offered.”

John Kapon, CEO of the wine auctioneer Acker Merrall & Condit, who still has wine collection worth 9 million U.S. dollars (almost 6.7 million Euros) in store, and which soon will also be offered on the market in Hong Kong, also highlights this fact. “About 65 percent of our sales are in Asia now. That is 25 percent more than three years ago. For Asians, the wines of renowned European wine estates are status symbols. They only want the best.”

Due to the growing number of millionaires in China, Hong Kong is now the third largest hub for auctions of art, jewelry and wine after New York and London. “A large part of international as well as the top Chinese companies are now based in Hong Kong,” explained John Kapon. “The society of the rich and successful is concentrated here.”

Last year alone, Sotheby was able to sell its wines at a value of 52 million U.S. dollars (38.5 million Euros) in the former British crown colony. That was more than twice as much as at auctions in London and three times as much as in auctions in New York could be achieved.

But unlike Western buyers, Asian colleagues do not bid wines to let them gather dust in basements. “Expensive wines are uncorked here and the good wines are drunk,” said Serena Sutcliffe. “This is due to the tradition of hospitality and is based in the desire to celebrate a deal with the business partner and to impress them.”

Lloyd Webber’s collection of wines is once again a fluke for Sotheby’s. The composer could even in adolescence afford to buy expensive and exclusive wines. In an interview, Andrew Lloyd Webber told the British press: “A love for wine is not necessarily rational. Whenever I was offered exclusive wines I couldn’t say no. But there comes a time where you ask yourself, is it realistic that you will drink such a large collection and can? In recent years, I had to admit that this will not be the case. So I thought to put the wines up for auction to make other wine lovers happy.”

A total of 747 lots from Lloyd Webber’s collection of wines come under the hammer, of which 21 lots are from Château Mouton Rothschild 2005 vintage and 4 lots of Château Haut Brion’s 1989 vintage. These names alone are enough to reach Asian bidders, who favor top wines from France. “The Chinese have developed a great love for wines from Bordeaux and Burgundy, but we are sure that the other exclusive wines from Lloyd Webber’s collection will find its buyers in Hong Kong,” says Serena Sutcliffe. (a.wirtzfeld)

Andrew Lloyd Webber im Gespräch mit Serena Sutcliffe
Serena Sutcliffe
Webber & Sutcliiffe
Andrew Lloyd Webber
Webbers Weinsammlung
Webbers Weinsammlung
Webbers Weinsammlung

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