Year’s biggest wine auction nets $14.5 mln in Hong Kong

on 08/11/11 at 2:54 pm

Wine

A weekend sale of rare French wine returned $14.5 million, making it the year’s biggest wine auction and underlining Hong Kong’s status as a leading wine market, the auction house said Monday.

The two-day auction by US house Acker Merrall & Condit featured the Don Stott Collection, considered a “reference library of great Burgundy”, the organisers said.

With 98 percent of the lots sold, the intense interest in the premium French vintages demonstrated the strength of Chinese demand for high-end luxury goods despite the eurozone crisis and rising inflation at home.

“Highly competitive bidding was witnessed throughout this two-day landmark auction, which reflected the escalating demand and passion for fine Burgundy wines in the global market,” Acker Merrall & Condit said in a statement.

The auctioneers said 145 world auction records were set, including 23 for Georges Roumier, 22 for Domaine Dujac, 17 for Domaine de la Romanee Conti and 13 for Louis Jadot.

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