Rare Chinese Baijiu 1958 Maotai Sells For $220,000 At Auction
on 19/12/10 at 1:40 pmWine
Rare Bottle Of Baijiu Fetches 1.45 Million Yuan At Hangzhou Auction.
It seems that Chinese collectors aren’t only driving the prices for Chateau Lafite or Chateau Cheval Blanc to new heights, they’re also on the hunt for rare tipples from a bit closer to home. This week, a bottle of 1958 Maotai baijiu sold for 1.45 million yuan (US$218,510) at auction in Hangzhou, setting a new record for the traditional Chinese spirit.
Baijiu is big business in China, with the country consuming some $27 billion worth of the clear liquor per year and consumption rising 20% a year for the last five years, according to the Wall Street Journal. But despite the popularity of high-end baijiu — which can often run into the tens of thousands of dollars per bottle — among China’s elite, it’s rare to see the same exuberance for a bottle at auction that we’d expect to see at a grape wine auction.