Joseph Lau Luen-hung, the Hong Kong property tycoon ranked 59th in Forbes’ Billionaires 2020 list, with an estimated net worth of US$16.4 billion, is known for his investments in wine, art and gemstones.
In February this year, Lau sold David Hockney’s The Splash at Sotheby’s contemporary art sale in London for £23.1 million (US$29.4 million), the third-highest price ever achieved at auction for a piece by the British pop art painter. In November 2015, the real estate mogul bought a 12-carat blue diamond for US$49 million, also at a Sotheby’s auction, breaking the world record for any gemstone sold at auction.
And so too, in the realm of fine wine, Lau has maintained his reputation as a discriminating collector. According to Patti Wong, chairman at Sotheby’s Asia, “Mr Lau has amassed one of the world’s most spectacular wine collections over the past decades.”
The Sotheby’s lots are only “a small part” of Lau’s wine collection, according to the 69-year-old tycoon himself but, even still, Lau has spent over 38 years collecting these wines – and many are presently in their drinking window.
Of the 110 lots from Lau’s collection, the six-litre Methuselahs of Romanée-Conti stand out as a sale highlight. As in 2019, Domaine de la Romanee-Conti retains its first place ranking in 2020 as the top producer of fine wines, with 21 per cent of the market share. (The Macallan, which ranked second, made up 7 per cent of total sales in wine and spirits.)
A magnum 1985 Richebourg, by another most recognisable and legendary winemaker, Henri Jayer, is estimated to fetch from US$41,000 to US$58,000 at auction. The Joseph Lau collection also carries an array of Petrus amid the Bordeaux offerings – most notably in large formats from 1990 and 1982.
Earlier in the afternoon on October 3, the “Five-Star Cellar” collection will be presented, with 174 lots of the finest Bordeauxs and Burgundys, estimated in excess of US$1.6 million.
The season’s “Finest & Rarest Wines and Spirits” sale, to be presented the following day, will comprise 704 lots estimated in excess of US$2.6 million, with names including Château Haut Brion 1989, Château Latour 1961 and Grand Crus from DRC.
In their midyear report, Sotheby’s found that a growing millennial clientele has taken advantage of the digital avenues for bidding during Covid-19, with 83 per cent of total sales in spirits bought online between January and July. Indeed, there are four ways to bid at this season’s live auctions: in the room, online, by telephone, or by either absentee or advanced bidding ahead of the auction.
Want more stories like this? Sign up here. Follow STYLE on Facebook, Instagram, YouTube and Twitter .
ncG1vNJzZmivp6x7tK%2FMqWWcp51kuqKzwLOgp52jZMC1xcueZqWtqKq%2FunvAq6uim5yafHR9j2xncWhfqMG6uMRmnJ2hpGK1sLrGZqKoppdir6q4y6Kmp5mZp7Juts6snKmgXaGutr%2BMsKarpJRis6K5zq6q