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Posted: Monday, April 21 2008. 18:14

Record Price for Top Burgundy Wines

A Chinese billionaire has paid a record half million dollars for 27 bottles of red Burgundy wine, indicating that they may not be the top customers of French En Primeur wines but know how to appreciate top French wines.

According to Reuters, the London-based Antique Wine Company reported on Saturday that the anonymous Beijing-based entrepreneur bought a mix of vintages of Romanée Conti (DRC), considered to be one of the world's most exclusive wines of which only 450 cases are produced annually.

The mix consists of 12 bottles of Romanée Conti 1978, 2 bottles each of the 1961, 1966, 1996 and 2003 and single bottles of the 1981, 1990, 1992, 1995, 1999, 2001 and 2002.

"It is the highest price that has ever been achieved for a single lot," says Managing Director Stephen Williams of Antique, adding, "I don't think he has bought this as an investment, he has bought it to drink."

Earlier, the same client had spent $60,000 for a case of 1982 Chateau Pétrus, his biggest single buy.

Apparently a fan of Burgundy's fine feminine wines, Williams believes that in the past, the Chinese have been drawn to the magnificent but simplistic qualities of the wines from the great chateaux of Bordeaux.

He adds, "Our leap in sales of Domaine de la Romanée Conti to China this year in particular indicates a broadening of their fine wine education and appreciation of the more complex wines of Burgundy."

Buyers usually pay the highest prices for extremely special bottles. For example, wines that came out of Thomas Jefferson's cellar fetch very high prices. Since during that period in the late eighteenth century wine bottles were not labelled, the former US President poured the premium wines he imported in casks from Europe into bottles etched with his initials.

In 2006, the most expensive bottle of white wine in the world was a regular-sized bottle of Chateau d'Yquem 1787, sold for just under $100,000. Pierre Lurton, President of Yquem had recently informed delWine that the company still maintained a few bottles of this historic vintage in their cellar.

It is a matter of time before the ultra-rich in India get into the habit of buying wines En primeur or in lots and auctions like this.The spare cash is there but the knowledge and penchant are on their way. They just need to be convinced that this is like buying fine art.


       

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