Pierre Chen’s legendary wine collection, valued at $50 million, heads to auction featuring rare Champagnes and Burgundy wines.
We’ve seen some pretty expensive bits of kit cross our desks here at DMARGE — take Jezz Bezos’ $700 million superyacht or this $14 million number plate as prime examples. In all our time, however, never have we seen a few bottles of grog rack up such a mind-boggling price tag…
Pierre Chen, a renowned art lover and self-proclaimed epicurean, is set to auction off his legendary wine collection, the largest and most valuable ever to hit the market. The collection, consisting of around 25,000 bottles, is expected to fetch a staggering $50 million.
Sotheby’s has been organising the sale since November and, with previous auctions already held in Hong Kong, the final two auctions are scheduled for June 20 in Paris and July 2 in Beaune, showcasing Chen’s exceptional Champagne and Burgundy wines.
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Champagne Extravaganza
The upcoming Paris auction, titled “The Epicurean’s Atlas—The Ultimate Champagnes,” will feature an exclusive collection of 1,850 bottles. Marking the first single-owner auction composed entirely of Champagne, those in the know are already dubbing this as a historic event.
The collection includes prestigious names such as Krug, Dom Pérignon, Salon, and Roederer, with vintages dating back to the 1950s. Notable highlights include a single magnum of Dom Pérignon 1966 P3 Champagne, estimated at $11,000. This collection is expected to bring in between $1.6 to $2.1 million.
The Champagne market has experienced a remarkable surge of late, with the value of sought-after bottles increasing by 50% over the past five years. Sotheby’s has seen a significant rise in Champagne sales, which tripled in value from $1.9 million in 2022 to $5.3 million in 2023. For the first time, Krug has entered Sotheby’s top 10 producers sold at auction by value, reflecting the surging demand for premium Champagnes.
Burgundy’s Finest
The second auction, “Live in the Vines,” will be held in Beaune and is the first non-charity auction in Burgundy. It features a selection of the region’s crème de la crème, including Domaine Leroy D’Auvenay, Coche-Dury, Leflaive, Dujac, Rousseau, and Ponsot. Burgundy wines have seen unprecedented growth in the auction market, with Domaine de la Romanée-Conti and Domaine Leroy D’Auvenay leading the charge.
A highlight of the auction is a vertical of magnums of Faiveley Musigny, produced from a vineyard owned by Chen. These magnums are typically reserved for Chen’s personal use, making them a rare find for collectors. Estimates for the Burgundy auction are equally impressive, with six bottles of Domaine D’Auvenay 2009 Chevalier Montrachet Grand Cru expected to reach up to $140,000 and a 12-bottle assortment of Domaine de la Romanée Conti 1999 anticipated to fetch $95,000.
Are you a big wine drinker? Would you be willing to shell out a six-figure sum for a bottle? Or do you prefer to stick to the VB’s?