|
The symbolic wine auction by the auction house Bonhams,
resulted in around $1.5 million worth of top vintages including cases
of Chateau Petrus from 1990 and 2000 which went for $57,240 each, along
with six magnums of 1982 Chateau Lafite Rothschild which fetched $36,151.
About 96% of the 246 lots offered to the people were
sold off, according to the auctioneers. Most of the bidders were locals.
Bonhams were pleased with the results and said that this
former British colony had bright prospects to become the Asian wine hub,
especially because of its proximity to the huge Chinese market next door.
Hong Kong may join the massive US and London market in
the years to come, as a major global player in wine auctions.
In a world of stagnating markets, the increase in demand
by Asia-especially Japan, China and Hong Kong - would help the fine wine
market get out of the existing economic slump. It is working as a sort
of buffer.
New York wine merchant Acker Merrall & Condit Co.
is holding the next auction here with 1,000 lots of wines, worth about
$6 million, on May 31.
Hong Kong and China have a significant number of fine
collectors who usually buy and cellar their fine wines in Europe or the
US. However, warehousing and proper cellaring is still a challenge.
The fine wine market is practically non-existent in
India, although a small number do buy and cellar their wines abroad. High
duties make such auctions impractical.
|