Love of Fine Wine in China Continues, Auction Proves

Love of Fine Wine in China Continues, Auction Proves

by Westgarth Wines October 11, 2012

As auction season enters full swing, another record-setting event in Hong Kong shows us just how vigorous the love of investment fine wine in China is. At Sotheby’s auction, 9 out of 10 lots went to private Asian collectors, and 12-bottle cases of Lafite and Petrus smashed their already high estimates. This is excellent news for Bordeaux investors, which comes on the back of last month’s reports that during the last year Bordeaux exports to China have risen dramatically.

Over the two days of Sotheby’s auction, ninety-six percent of wine lots were sold, bringing in a total of around $9.5 million. One Methuselah (6 liter) bottle of Romanee Conti sold for $110,000 alone. The high sale prices of Burgundies such as this may mean that investors will increasingly turn to Bordeaux in search of better value. The second day of the auction saw Petrus under the hammer again, with a case of their 2000 vintage selling for $57,000.

Next month’s major auction in Hong Kong begins on November 23rd, and promises to be yet another fascinating chapter in a record-breaking season. It’s also clear that the love of Petrus, Romanee Conti, and Chateau Lafite in China continues unabated. Sotheby’s Hong Kong event was another great auction, with stellar results, and represents a fantastic start to the quarter.





Also in News

Oak and barrel maturation: new vs old barrels
Oak and barrel maturation: new vs old barrels

by Westgarth Wines March 28, 2024

How the age and size of...

Continue Reading

Collector’s corner: Italy
Collector’s corner: Italy

by Westgarth Wines March 21, 2024

Why now is a prime time to revisit Italy from a collector’s perspective

Continue Reading

Oak and barrel maturation: cooperage
Oak and barrel maturation: cooperage

by Maurizio Broggi March 14, 2024

The ancient art of barrel-making

Continue Reading