Wine and whisky investing: 'This buyer hunted the $200,000 whisky, not the other way round'
Record sales are constant in the wine and whisky markets - as global buyers can't get enough...
Paul Fraser Collectibles, September 21 September 2011
They came from the District of Columbia and Puerto Rico.
Also Australia, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Japan, Macau...
And Mexico, Singapore, South Korea, Switzerland, Thailand, and the United Kingdom.
All were driven by one thing: the chance to own a rare bottle of wine.
Not only that, but the sheer enthusiasm of the auction bidders from each of these countries led the organisers to describe it as "the most energetic bidding we've seen in months."
This energy saw Hart Davis Hart's Chicago wine sale achieve a $5.3m sale total; well above the firm's presale estimates.
I mean, just look at the variety of countries involved... Europe and Asia... East and West.
From the above evidence, you wouldn't know that we're in the middle of an economic recession.
Likewise Acker Merrall & Condit's recent auction in Hong Kong. That sale included a rare original wooden 12-bottle case of the legendary 1990 DRC Romanee-Conti wine.
What does something like that sell for? Answer: $297,179.
Worldwide buyers can't resist the finest fines, like Romanee-Conti
Again, the auction house reported numerous competitive bids in a "heated battle" which resulted in yet another World Record price in the collectibles markets.
If you regularly read this column, you'll know that I regularly talk about the impressive affects of excitement and intrigue on the collectibles markets.
Indeed, these markets are driven by passion and energy.
But these sales prove my point as well as demonstrating, in the words of Acker: "the tremendous demand and passion in Asia for the world's best wines."
"All this talk about the market cooling off is just talk."
And it isn't just wine but also whisky. The draw that these rare bottles have on buyers - when you see them in person - was perfectly illustrated earlier this week.
A Chinese gentleman wandered into a duty free shop in Singapore's Changi Airport and saw a rare bottle of the
$79,400 before he pays the rest of the Dalmore bottle's
See the photos (above), and it looks more like a museum exhibit than a shop display.
Yet the sellers didn't need to hunt a buyer. The buyer came to them, not the other way round.
All it took was one collector who really wanted to own this piece. It's a great example of the liquidity and global appeal of collectibles as assets.
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All the best, until next week,
Recent and related articles
· Bonhams sells case of Romanee-Conti for $200,840 in its fine wine sale | 12 September 2011
· Gem-studded jewel casket set to dazzle at Leland Little's estate auction | 11 September 2011
· China's first wine investment fund offers wealthy buyers 15% returns | 11 September 2011
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