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1988 Romanée-Conti case makes $116,977 at Christie's HK
A case of 1988 Romanée-Conti led the way at a Hong Kong wine auction on June 16
Paul Fraser Collectibles, Monday 18 June 2012
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12 bottles of 1988 Romanée-Conti highlighted Christie's Hong Kong wine auction on June 16.
The 12 bottles sold within estimate for $116,977 in what was another good outing for the Burgundy, with 12 bottles of a 1990 DRC assortment also making $49,910.
Romanée-Conti: popular with Chinese buyers
Meanwhile 12 bottles of 1982 Pétrus led the way among the Bordeaux, with a $65,507 showing, just above estimate.
The sale made $2.2m in all, the latest confirmation that the desire for investment-grade wine in China is growing, as Simon Tam, the head of wine at Christie's China, explains.
"Wine knowledge in Greater China is growing rapidly. Burgundy, particularly DRC are clear favourites at the moment," he said following the sale.
"We see that not only buyers from Beijing are becoming increasingly sophisticated, but rather wine knowledge and appreciation are also permeating into China's second tier cities, reflecting the increasingly diverse origins of our Chinese bidders."
And it's not just at the top end of the market where there's excitement, entry-level investors around the globe too are finding opportunities.
Anthony Johnson, an analysis partner for Alternative Asset Analysis, recently commented: "An investment of as little as £500 to £1,000 will enable you to purchase some incredibly good fine wines whose values could rise exponentially over the coming years."
"Those who are interested in fine wines, art and antiques and starting to realise that they can make money for their hobbies."
Fine wines have brought returns of 195% over the past seven years, according to the Liv-ex index.
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Recent and related articles
· Chateau La Mission-Haut-Brion wine up 15% at Christie's | 11 May 2012
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· Romanée Conti celebrates continued auction success in Boston | 4 May 2012
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