The publisher of Wine Spectator bought a bottle through Christie’s. By this measure, William Koch, of the Koch brothers, has made it. Heated bidding was not limited to first-growths and their equivalents. Billionaire wine collector Bill Koch is spending more money to go after wine counterfeiters than most people will spend on wine in a lifetime. Billionaire collector offers 20,000 bottles of rarities in a sale that brings in one of the highest wine auction totals in history, With an image of Bill Koch's cellar behind him, Jamie Ritchie of Sotheby's oversaw bidding in New York; the auction brought in $21.9 million. In the Graycliff hotel’s long and colourful history, the cellar was originally built as a jail during the American Civil War era. "They were prepared to spend more money to acquire wines of impeccable quality that rarely surface at auction.”, At the sale’s conclusion Koch reflected, “Collecting and enjoying wine has been one of the great loves of my life. Heated bidding came from the floor, the order (bids placed prior to the auction), the telephone and Internet bidding, sending prices soaring above their estimates. I attended the […] A case of Château Ducru-Beaucaillou 2000 brought $3,910 against a high estimate of $2,200, which was also 93 percent above the wine's recent average sale price in the Wine Spectator Auction Price Database. “This was an opportunity of a lifetime for collectors," he told Wine Spectator. Bill Koch (businessman) (born 1940), American businessman and yachtsman who won 1992 America's Cup Bill Koch (skier) (born 1955), American cross-country skier Bill Koch (American football), football coach See also. Six magnums of Henri Jayer Vosne-Romanée Cros Parantoux 1989 brought $171,500 (61 percent above its estimate). All 2,730 lots were sold in the New York auction, named Wines from the Cellar of William I Koch, which lasted for 27 hours over three days. Many were actually produced in the kitchen of a master con man in suburban Los Angeles. Koch's nearly 20-year legal disputes with his brothers Charles and David brought him some notoriety as did his America's Cup race win, but wine enthusiasts know him best as the man who tried to clean up fine wine market. Koch says he spent some $5 million buying rare vintages of top French wines, which later turned out to be fakes. Bill Koch may refer to: . The prison bars remain in place today, securing a vast wine collection, spanning 500 producers and 18 countries – the life’s work … Mr. Koch’s collection is one of the largest private collections in the country and the three-day sale includes over 20,000 bottles. Asked whether the sale’s elevated prices were surprising, Jamie Ritchie, CEO of Sotheby’s Wine, replied with an emphatic no. In this video, Mr. Koch gives a personal tour of the spectacular wine cellar in his Palm Beach residence. All 2,730 lots sold. Plus, City Winery …. Koch spent $3.7 million at a Zachys auction of 17,000 bottles from Greenberg's cellar in October 2005, and alleged that 24 of the bottles he bought were fakes and that Greenberg knew it. It went to an anonymous—and determined—telephone bidder. Second-growths also experienced strong demand. Sotheby’s announced today that it is selling over 20,000 bottles of wine from the cellar of William I. Koch in a three-day auction that begins May 19. Last week the wine world was abuzz after billionaire Bill Koch announced that he was auctioning off part of his massive collection to the general public. A mysterious Middle Eastern businessman bought another. The billionaire stores his collection in a high-tech, modern cellar under his mansion in Palm Beach, Florida. A case of Domaine de la Romanée-Conti Montrachet 1978 sold for $147,000 against a high estimate of $75,000. Get In Touch The total amount he deducted? August 2020. William I. Koch has amassed a wine collection that includes 43,000 bottles of wine. Sign up for Wine Spectator’s Free Email Newsletters and stay up-to-date with all things wine. Bill Koch in his Palm Beach wine cellar (Photo credit: Harry Benson). The sale total was one of the highest ever achieved by a wine auction. Bill and his eldest brother, Frederick, sided with J. Howard Marshall III, J. Howard Marshall II's eldest son, against Charles and David at one point, in order to take over the company. Holiday Special: Give 2 Wine Spectator Gift Subscriptions for the Price of 1! Ever since, Koch only sourced the best wines from the best wine regions in the world. What distinguished Koch’s collection was the breadth, depth and quality of selection. While Koch’s twin brother David is best known for the money he spends on conservative political causes, Bill Koch is famed for the money he spends on his passions, including fine art and fine wine. In this short video, he recalls how his interest in wine developed into a lifelong passion. From the outset, Koch sourced the best wines from the best regions. While Koch became famous among collectors for his dogged legal campaign after he discovered numerous counterfeit wines in his cellars, he and Sotheby's went to great lengths to authenticate everything consigned. First Look: Wines from the Cellar of William I. Koch - YouTube Sotheby’s received over 20,000 bids from buyers in 23 countries. Turns out, Koch was the wrong guy to swindle 2017 Oct 22 News Tips. Billionaire and famed wine collector Bill Koch’s wine cellar is up for auction at Sotheby’s in a three-day sale happening now. And in late 1988 an American tycoon named Bill Koch … William I. Koch, better known as Bill to those who know him — and those who don’t — has decided it’s time to part with a few things below his house(s) and clean out the cellar. All rights reserved. A tour of billionaire Bill Koch's wine cellar. Sotheby's New York auctioned off 20,000 bottles of fine and rare wine from the cellar of billionaire collector Bill Koch in a three-day sale from May 19 to 21. It features some extraordinary lots. Large-format wines from Domaine de la Romanée-Conti met with strong demand. According to CNBC , approximately 20,000 bottles are up for grabs with Sotheby’s estimating that the entire collection will raise somewhere in the neighborhood of $10 to $15 million dollars. Koch, 72, the founder of Oxbow Group energy company, accused tech entrepreneur Eric Greenberg of knowingly selling him counterfeit bottles of wine at a 2005 Zachys auction. (Courtesy Sotheby's Wine), Koch became famous among collectors for his dogged legal campaign, Mediterranean Diet, Including Wine, Linked to Lower Risk of Diabetes, 2020 Gift Guide: Editors’ Favorite Wine Accessories, 2020 Beaujolais Nouveau: Celebrating Bright Wines in a Dim Year, Instagram Live Chats: View Wine Spectator's Upcoming Schedule, In Lebanese Wine, Perseverance Is Part of the Terroir, Scientists Find Strong Evidence Linking Mediterranean Diet to Lower Risk of Diabetes, Restaurant Award Winners That Have Permanently Closed During the COVID-19 Pandemic, How Are Wine Auctions Doing? This sale was replete with showstoppers. Bill koch is the founder of a petroleum coke and sulphur products company oxbow corp. Sotheby s new york auctioned off 20 000 bottles of fine and rare wine from the cellar of billionaire collector bill koch in a three day sale from may 19 to 21. One of the most exciting offerings of Sotheby’s spring auction season in New York is Wines from the Cellar of William I. Koch. Wines from Mr. Koch’s cellar will be offered at Sotheby’s New York on May 19 – 21. [2]Den amerikanska ekonomitidskriften Forbes rankar Koch till att vara världens 1 712:e rikaste med en förmögenhet på 1,4 miljarder amerikanska dollar för den 15 november 2019. The price Bill Koch paid? Koch recently sold 20,000 bottles of wine from his personal collection in a three-day event that raked in $21.9 million. How did Koch deduct two-thirds of the value of a personal residence? Koch is selling about 20,000 bottles with an estimated range of $10-$15 million. “With around 43,000 bottles I realized I could not possibly consume everything in my cellar,” Koch said in a written statement. © Copyright 2020 Wine Spectator. Sotheby's claims to have set 'a new benchmark' for wine auctions after its sale from billionaire collector Bill Koch's cellar hit nearly $22m. Bill Koch in the wine cellar of his Palm Beach, Fla., estate. Sotheby's New York auctioned off 20,000 bottles of fine and rare wine from the cellar of billionaire collector Bill Koch in a three-day sale from May 19 to 21. The key was buying the property not in his own name, but through a Limited Liability Company or LLC. “So I am delighted to offer this selection to allow collectors all over the world to enjoy the glorious moments that come with these wines.”. A New York wine merchant appears to be blatantly violating a 2014 federal court order issued in connection with the sale of counterfeit wines. But don’t worry, he’ll still have plenty to drink since he’s only selling about half his famed collection. $63,744,920. Foremost were 10 bottles of the highly celebrated Château Mouton-Rothschild 1945, which sailed above the presale estimate of $120,000 to bring in $343,000. Bill Koch, one of the other Koch ... cave-like cellar in his Palm Beach home. It is very gratifying to see so many people from around the world that share my passion.”, And catch up on past episodes on the magazine's IGTV channel, When an explosion devastated Beirut, shattering the offices of the Saadé family's wine …, A 25-year study found that consuming more plants, whole grains, olive oil and a daily glass …, A running list of wine-focused dining spots that have been forced to shut for good as the …, As the pandemic continues to restrict most in-person events, auction houses are seeing …, The Lounge at March debuts before the full restaurant opens next year. Sotheby's sells $22m of wine in Bill Koch auction. William, better known as Bill, is the sl… William I. Koch, better known as Bill to those who know him — and those who don’t — has decided it’s time to part with a few things below his house(s) and clean out the cellar. The sale total was one of the highest ever achieved by a wine auction. The consignment fetched a staggering $21.9 million, topping the presale high estimate of $15 million by 46 percent. What made the Bill Koch Collection special was the breadth, depth, and quality of the wine selection. Got a confidential news tip? In 2001, Koch reached a settlement where he had charged the company was taking oil from federal and Indian land. "I just had to have them," Koch told "20/20" in an interview conducted in the elaborate wine cellar of his oceanfront mansion in Palm Beach, Florida. One of the most exciting offerings of Sotheby’s spring auction season in New York is Wines from the Cellar of William I. Koch. Royal Wine Merchants was sued by Florida billionaire Bill Koch as part of his crusade to recapture some of the money he spent on wines that he bought from several places that turned out to be counterfeit. Bill Koch, sibling of the famous Koch brothers, Charles and David, spent $35 million investigating what began as $400K in wine fraud. He stored them impeccably in a state-of-the-art, high-tech cellar beneath his mansion in Palm Beach, Fla. A methuselah of DRC Romanée-Conti 1991 exceeded its presale estimate of $100,000 to bring $159,200. $42,637,729. We want to hear from you. The trial lasted two and a half weeks, but it took the eight-person … William Ingraham "Bill" Koch, född 3 maj 1940 i Wichita, Kansas, är en amerikansk företagsledare som är grundare, president och vd för petroleumbolaget Oxbow Corporation sedan 1983. The Koch collection was largely French, weighted toward first-growths and other classified Bordeaux wines with a strong selection of premium Burgundies from Domaine de la Romanée-Conti, a smattering of Rhône reds, California and Italian estate wines and Vintage Port. Billy Koch (born 1974), American baseball player; William A. Koch (1915–2001), American businessman and theme-park developer Mr. Koch’s collection is one of the largest private collections in the country and the three-day sale includes over 20,000Learn More: http://www.sothebys.com/en/auctions/2016/wines-from-cellar-william-i-koch-n09485.htmlDownload The Sotheby’s App: https://itunes.apple.com/us/app/sothebys/id1061156465?mt=8 FOR MORE NEWS FROM SOTHEBY’SNewsletter:http://www.sothebys.com/en/news-video/blogs/all-blogs/sothebys/2017/05/stay-connected.htmlInstagram: https://www.instagram.com/sothebys/Facebook: https://www.facebook.com/sothebysTwitter: https://twitter.com/sothebysPinterest: https://www.pinterest.com/sothebysWeibo: http://www.weibo.com/sothebyshongkong?is_hot=1WeChat: sothebyshongkongSnapchat: Sothebys Auction house Sotheby's is planning to sell 20,000 bottles of wine from Koch's private cellar of William Koch, one of the richest men in America. 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