One of the world's most prominent art collectors, Asian entrepreneur Pierre Chen is also a passionate collector of wine.
Chen, the electronic components tycoon behind Yageo Corporations, has a net worth of US$4.7 billion. This puts him at 550th on the 2021 Forbes Global Rich List.
Chen’s extensive wine collection was gathered for more than 30 years, and will be auctioned in Sotheby's Hong Kong on 9 October. More than 360 lots will be sold, with a range of famous fine wines including Dom Perignon, First Growths of Bordeaux and Petrus. The estimated price for the sale is US$11.4 million dollars, the second highest estimated single-owner wine sale in Asia.
Apart from collecting famous wines, Chen's passion is evident through owning his own vineyard called Faiveley Musigny. They will appear at auction for the first time.
Pierre Chan is known for his fine art and wine collection
Passion for Art
Chen is a world-renowned art collector. Chen started collecting artworks since 1976, and owns renowned oeuvres d’art including Picasso, Bacon and Richter.
Chen bought Sanyu's painting Five Nudes (created between 1950 and 1959) in 1993. It cost US$130,000 dollars at the time.
It was sold for US$16 million (HK$128 million) dollars in 2011, and then a record-breaking US$39.1 million (HK$303 million) dollars in 2019.
Sanyu's Five Nudes (1950-1959)
Sotheby's Wine Auction
This wine sale is called The Art of Living: Legendary Wines from the Cellar of Pierre Chan.
A wide range of famous fine wines are featured, namely Dom Perignon, Oenotheque vintages and Dom Perignon P3, Petrus, all of the First Growths of Bordeaux, red and white Burgundy featuring an array of Grands Crus from the most revered producers such as Leroy, Faiveley, Dujac, Ponsot and Jayer. The latter with vintages of Cros Parantoux prodcing wines over the decades and mostly in Magnums spanning from 1978 to 1999.
Chen's passion for art is also extended into wines, and he identifies the similarities and differences between both fields.
"Wine is the only art form that one can consume and literally live with. It uses senses that traditional art mediums usually do not involve, like one's smell and taste. While other art forms are less demanding of the receivers, wine requires creativity on the part of the owner," said Chen.
Passionate about wine, Chen bought a vineyard in Burgundy, France
Chen's vineyard, Faiveley Musigny, wines in 1.5 litres bottles (magnums) editions will be auctioned for the first time. They are vintage wines ranging from 2015 to 2017.
Chen’s enthusiasm for top wines led him to invest in Burgundy’s family winery, Faiveley. After Chen purchased the vineyard in 2015, Faiveley owns nearly one third of the Musigny Grand Cru vineyard (in Burgundy), covering an area of 25 acres. The output increased from 150 bottles to 500 bottles per year. It can also get 25 to 30 cases of wine from the winery in return each year.
Musigny, Faiveley (2015) | 1.5 litres (1 bottle per lot)
Estimated Price: US$12,000 – 22,000 (3 lots)
Art of Living
Chen also wants to use wine as a vehicle to appreciate the art of living.
“I sincerely hope that this collaboration with an industry giant like Sotheby’s can further pique the interests and bring more people to the wonderful world of winemaking. Sharing is the most important process of wine appreciation. Here, I would like to share with all of you an intimate part of my wine collection, and encourage you to start the art of living by living with the arts of your choice – in this case, wine,” said Chen.
"The act of collecting wine is only a small part of the fun, but having the true passion to enjoy them is the key," he added.
This private wine collection is the second highest estimated single-owner wine sale in Asia, with an estimated price of US$11.4 million dollars.
The highest priced single-owner wine collection consisted of 17,000 bottles, and was sold for US$29.8 million dollars in March 2019. Its estimated price was originally at around US$26 million dollars.
La Tache, DRC, (1971) | 3 litres (1 bottle per lot)
Estimated Price: US$110,000 – 190,000 (2 lots)
Hermitage, La Chapelle, Paul Jaboulet Aine (1961) | 1.5 litres (1 bottle)
Estimated Price: US$35,000 – 60,000
Chevalier Montrachet, Domaine d’Auvenay (2009) | (3 bottles)
Estimated Price: US$30,000 – 50,000 (3 lots)
Palmer (1961) | 3 litres (1 bottle)
Esimated Price: US$24,000 – 38,000
Auction House: Sotheby’s Hong Kong
Sale: The Art of Living: Legendary Wines from the Cellar of Pierre Chen
Date and Time: 9 October 2021 | 11am (Hong Kong local time)