News

Asian collectors snap up Top Burgundy at sell-out Hong Kong auction

1st October 2015


Acker Merral & Condit’s auction of 19th September saw an estimated total of HK$37 million (over £3.1M) changing hands, with world-renowned Domaine de la Romanée-Conti topping the charts yet again. The Burgundy estate, which takes pride in bottling one of the world’s most expensive wines, remained the most sought after brand by far, accounting for 18 of the Top 25 lots sold.

Held across five cities, 300 guest bidders battled live along with absentee and online bidders from across the world. Hong Kong was the most active market, accounting for 45% of all lots, while Tokyo made a strong debut. Acker’s Chairman John Kapon said “The action from our new friends in Beijing, Shanghai, Taipei and Tokyo was electric, bringing an extra level of energy and excitement to the sale.”

Following news of China’s recent market mishaps, the dazzling success of the Hong Kong auction has restored collectors’ faith in the country’s future where fine wines are concerned. Kapon says – “While the media has been making a lot of noise about the overall economic well-being of China, it looked quite healthy from our vantage point. The appetite for the best of the best clearly remains intact.  Demand is going up, and supply is going down every day as bottles get consumed. Wine is an increasingly active part of a diverse portfolio. And guess what? It’s also a heck of a lot of fun.”

Other wines in high demand were Roumier, Rousseau, Comte Liger-Belair, Leroy, Vogue, Ramonet, La Mission Haut Brion, Margaux, Latour, Mouton, Lafite, Haut Brion Blanc and Yquem, along with wines commonly featured in New York such as Guigal, Chave, Soldera, Harlan, Bryant and Opus One.

 

Information about investment in these fine wines can be found on the Capital Vintners website – please feel free to contact us directly with any queries.

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