Home / Business / Food & Beverage Tools: Save | Print | E-mail | Most Read | Comment
Rare champagne sets world record at HK wine auction
Adjust font size:

A bottle of rare champagne fetched 164,560 Hong Kong dollars (21,097 U.S. dollars) at a wine auction on Saturday, setting a new world record for the price of any bottle of champagne sold at an auction.

The auction realized an impressive total of 35 million HK dollars (4.5 million U.S. dollars) with 96 percent of the over 1, 000 lots sold to buyers from Hong Kong, the Chinese mainland, Taiwan, as well as Japan, South Korea, Singapore, Indonesia, among others.

A superlot of 132 bottles of Domaine de la Romanee Conti La Tache from vintages between 1985 and 2003 went for 1.89 million HK dollars (0.24 million U.S. dollars), in line with previous estimates between 1.6 million and 2.4 million HK dollars.

More than 1,000 bottles of rare champagnes from the collection of Robert Rosania also attracted enormous interests, with a bottle of 1928 Krug collection vintage fetching 164,560 HK dollars after several rounds of fierce bidding.

The auction house, the United States-based Acker Merrall & Condit, said it was satisfied with auction results.

"The sale clearly underlined the continuing strong interest in Hong Kong for the finest and rarest wines. The market has stabilized in 2009," said John Kapon, president and auction director of the family firm that has been in the market since 1820.

"Our client base is growing rapidly with the majority from Hong Kong," he said, adding that there were also customers from the Chinese mainland, Japan, Korea, etc.

Acker Merrall & Condit is the market leader in the United States. It is now operating in both New York and Hong Kong. Saturday's auction was the third by the company in Hong Kong since last May, when the company set the record for any wine auction in Asia by fetching 64 million HK dollars (8.2 million U.S. dollars).

Hong Kong announced a duty scrap on wine and beer last February, leading to high expectations by the wine industry and a potential boom of the wine market.

Sotheby's also recently announced that it will hold its first wine sale in early April in Hong Kong and offer over 5,100 bottles of wine. (7.8 HK dollars = 1 U.S. dollar).

(Xinhua News Agency March 29, 2009)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Leading US wine seller hopes big for auction in HK
- HKTB launches 'Food & Wine Year'
- Customs storm hits wine importers

Mar.20, Shanghai Lipper Funds Awards
Mar.21-22, Beijing Anti-monopoly Law Symposium
Mar.27, Beijing The 4th Annual China Fund Summit
Apr.11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr.20-23, Beijing Green Transformation: Forcast New Business Culture

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?