Wine Auctions Set for Record $200 Million on Asia Demand

on 17/09/10 at 6:33 pm

Wine

Two bottles from the near-complete set of vintages of Chateau Mouton-Rothschild from 1945-2003. They are included in Sotheby's 40th Anniversary auction of fine and rare wines in London on Sept. 22 to Sept. 23. The lot is expect to sell for between 15,000 pounds and 20,000 pounds. Source: Sotheby's via Bloomberg

International wine sales at the three main auction houses look set to reach a record $200 million in 2010 as Asia’s thirst for fine French vintages pushes up prices.

The total at Sotheby’s, Christie’s International and specialist auction house Acker Merrall & Condit will likely be double last year’s figure, as Hong Kong becomes a global hub of the market. Demand from China and other countries in Asia is strongest for trophy-label red Bordeaux.

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