Hong Kong property mogul Albert Yeung is auctioning off his US$1.3 million wine collection

Hong Kong property tycoon Albert Yeung is selling a wine collection valued at more than HK$10 million (US$1.3 million) in a public auction.

The 82-year-old chairman of Emperor Group is offering 426 bottles of fine wine at Sotheby’s on September 10, according to the auction house’s website. The collection, titled “The Majestic Cellar of Dr Albert Yeung,” includes selections from Domaine de la Romanée-Conti, Petrus and Château Palmer.

“This is not a high-volume cellar, but one with an emphasis on only the most remarkable jewels of the wine world,” said George Lacey, head of wine in Asia at Sotheby’s. “Dr Yeung has curated this collection with meticulous care.”

Albert Yeung, chairman of Emperor Group, at a film wrap party in Hong Kong, in 2018. Photo VCG/Getty ImagesHong Kong-based Emperor Group has businesses ranging from property to watches and jewellery, entertainment and financial services, according to its website. Emperor International Holdings, the conglomerate’s listed property business, said in June that it had more than HK$16.6 billion overdue loans as of March 31. The developer has sent debt restructuring proposals to lenders, seeking to extend the maturity of its bank borrowings, Bloomberg News reported last month.

Emperor Group and Yeung didn’t immediately respond to a request for comment.

Hong Kong is an important wine hub in Asia, with zero duties attracting the global wealthy to store collections in the city. Billionaire Joseph Lau sold a collection of fine wine for about US$9.4 million in May, with some top lots fetching more than US$41,000 a bottle.