Snooth Talk: Recent Wine Auction in Hong Kong

Wine Talk

: Recent Wine Auction in Hong Kong; Posted by cigarman168, Sep 19.; There is Wine Auction in Hong Kong on 19 Sep 09 and some new records as follows :

1. First 100% Sold Wine Auction in Hong Kong realizing nearly HK$50 Million (US$ 6.4 Million)

2. A Superlot of Twelve Cases of 1990-2001 DRC Assortments achieves HK$2.54 million (US$325,769)

3. World Auction Record for a single bottle case of DRC La Tache 1990 at HK$580,800 (US$74,462)

4. World Auction Record for Magnums of DRC Romanee Conti 2005, 3 magnums of 2005 selling for HK$580,800 (US$74,462)

There really lots of big buyers in Hong Kong!

2524 1747: Reply by Gregory Dal Piaz, Sep 19.; We see this in domestic auctions as well. Lot's of lots are being sold via phone bids, many going to Asian bidders.

Those are some impressive bids.

Thanks for sharing.

This was the recent Acker Auction right?

0 80: Reply by cigarman168, Sep 19.; I used to go to bid at the venue for their auction, but I did not attend this time since I believe the bidding price will be too strong that out of my budgets regarding the booming in stocks and property market these days.

10 1166: Reply by dmcker, Sep 20.; Sounds like a very heated auction. Where were the DRCs being sourced from?

45 30: Reply by corskier, Sep 20.; Dang, sounds like they like some DRC over there!

0 80: Reply by cigarman168, Sep 20.; Seems the DRC being sourced from a private collector. For investors, I think they consider more the rareness of the wines rather than their personal preference.

10 1166: Reply by dmcker, Sep 20.; Do you know where the private collector is living/located, and how were the auction participants being reassured regarding authenticity, storage and bottle conditions, etc.?

2524 1747: Reply by Gregory Dal Piaz, Sep 21.; DRC pricing has absolutely exploded over the past near decade. The real high end Burgundies, many that were true sleepers only 5 years ago, have leapt to the top of the wine heap. The limited nature of these wines makes them an ideal target for investors as well as status seekers. A shame but not unexpected.

10 1166: Reply by dmcker, Sep 21.; Yes, and it looks like the Chinese have taken over in the marketplace the role played by the Japanese in the late '80s and early '90s...