Koch bids £310,000 for Hennessy Jubilee cognac collection
by Louis Vuitton Media Centre 23 Aug 2001 20:12 BST
American millionaire Bill Koch, winner in 1992 of the America's Cup, successfully bid £310,000 (US$450,000) last night for the Hennessy America's Cup Jubilee eaux-de-vie cognac collection, auctioned to aid the Royal National Lifeboat Institution.
The public sale of the unique 31-bottle collection of eaux-de-vie, each distilled in the year of an America's Cup match, was one of the highlights of the Moët et Chandon America's Cup Jubilee Ball at Osborne House, the summer residence of Queen Victoria. Members of Team New Zealand, successful defenders of the America's Cup in 2000, were the guests of honor at the ball.
Koch was the high stakes winner in a spirited bidding contest against an anonymous opponent conducted by Phillips Auctioneers before 2,200 guests at the ball, highlight of the social calendar at the Jubilee.
A clearly delighted Koch said: "After spending $68 million on the America's Cup, this was rather cheap." Earlier Koch told an interviewer he had still not decided whether to bid or not.
Hennessy, one of the sponsors of the Jubilee, assembled and donated the America's Cup Jubilee Collection, a 31-bottle set of vintage cognacs from America's Cup event years starting in 1851. The collection, the only one of its kind ever created, featured specially created labels with drawings of the challengers and defenders. It was housed in an oak and teak cabinet. Phillips, another Jubilee sponsor, waived its auction fee.
The concept for the collection and its auction was the brainchild of Bruno Troublé and Marcus Hutchinson of Jour J, the Paris-based agency that worked extensively with the Jubilee organizers and with the House of Hennessy.
Hennessy placed an estimated value of £20,000 on the collection. When bidding started, four or five bidders quickly drove the price up to £100,000. They dropped out as Koch and an unknown bidder in the back of the room pushed the stakes steadily higher. Koch made it clear that he wanted the collection. He stood before the podium, program in the air, vigorously responding to every counter bid.
Earlier, he said, "I'm debating on whether I will bid or not. Because, you know, I collect fabulous wines. I love it."
Koch continued: "This is an absolutely magnificent event. Even though the sailing is tough, difficult and challenging and the Brits are superb sailors and tough competitors, the hospitality here, the warmth and the magic of it... it's like falling in love for the first time."
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