Champagne prices! Rare bottles on sale at Sotheby’s first dedicated auction

Some of the world’s rarest bottles of Champagne will go under the hammer next week, when Sotheby’s holds the first auction dedicated exclusively to the famous French sparkling wine.

On June 20, some 1,500 bottles of champagne, some dating from the 1950s, 1960s, 1970s, 1980s and 1990s, will be auctioned at Sotheby’s.

The champagne to be auctioned is part of a wine collection built up over decades by Taiwanese billionaire businessman Pierre Chen.

In November, the first offering of wines from Chen’s winery raised $16.8 million in a two-day auction at Hong Kong’s Mandarin Oriental hotel.

One of the lots that will be auctioned in Paris are five bottles of 1971 Blanc De Blancs Salon Le Mesnil Champagne, with an estimated guide price of between 14,000 and 18,000 euros.

Also on offer is a bottle of Dom Pérignon from 1966, with an estimated price of between 7,500 and 9,500 euros.

Other deep-pocketed bidders may wish to opt for the 1996 Krug Clos Du Mesnil magnum, with a guide price of between €5,000 and €6,500.

Also on offer is a six-litre bottle of Louis Roederer Cristal Methuselah champagne dating from 1990 and is expected to fetch between €4,500 and €6,000.

According to Sotheby’s: ‘Louis Roederer Cristal 1990 is a champagne of exceptional quality from an exceptional vintage.

‘It presents aromas of ripe orchard fruit, bright citrus, toasted almonds and brioche. The palate is rich and full-bodied, with a creamy texture and fresh acidity, leading to a luxurious and persistent finish.’

The second of two special auctions to be held by Sotheby’s will take place a fortnight later as it sells part of Mr Chen’s Burgundy wine collection, with the bottles expected to sell for much more.

On July 2 at the Convent of the Cordeliers of Beaune, tThe ‘crème de la crème’ of Burgundy wines will be at stake, Sotheby’s said.

Sourced again from Mr Chen’s collection, the Burgundy wines on offer include bottles from brands such as Domaine de la Romanée-Conti, Domaines Leroy and d’Auvenay, Coche-Dury, Leflaive, Dujac, Rousseau and Ponsot.

For investors with deep pockets, 12 bottles of Domaine de la Romanée-Conti wine will be auctioned on July 2, with an estimated price of between 60,000 and 90,000 euros.

Notably, the auction also includes a vertical of magnum bottles of Faiveley Musigny, bottled by Faiveley exclusively for Mr. Chen, comprising all vintages since Mr. Chen purchased a plot of the Grand Cru vineyard.

Sotheby’s stated that these bottles cannot be found anywhere else.

The upcoming auctions will be the second in ‘The Atlas of the Epicurean’, the series of five auctions that will liquidate Mr. Chen’s bottles.

The investor base in fine wine has grown significantly in recent years, thanks to the growing influx of consumers in previously inaccessible corners of the world, the emergence of easy-to-use trading platforms and a drop in the minimum cost of investment. It is also a physical, tangible asset, like property or gold.

However, investing in wine is not for the faint of heart. Provenance is crucial and additional costs and taxes may need to be taken into account.