Asia Leads the Pack in Fine Wine Sales
Asia has been setting records in the fine wine auction market, from the record setting $16 million dollar sale of “The Philanthropist’s Cellar” to Sotheby’s reporting its highest sales ever in Asia. Hong Kong is leading the way making up 53% of the wine-auction sales, according to Sotheby’s. The ability to buy premium wine online has been a catalyst for the recent growth in emerging markets as it allows consumers in remote locations to learn and locate wine. While a boon for those consumers, we can expect prices to rise higher—maybe time to invest while the getting is good?