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By Jim Boyce
Spectrum announced that its first Hong Kong wine auction – held simultaneously at Crown Wine Cellars in Hong Kong and the St. Regis Monarch Beach in California late last month – sold all 686 lots and raised HKD26.8 million (RMB24 million / USD3.5 million).
According to a press release, Burgundy and Bordeaux dominated, with a case of 1962 Roman̩e-Conti selling for USD109,940 (RMB750,890). A magnum of 1998 Screaming Eagle Cabernet Sauvignon sold for USD3,883 (RMB26,521). Curiously, a bottle of 1966 Robert Mondavi Cabernet Sauvignon, the first vintage from the vineyard, went for a mere USD200 (RMB1366) Рthough the Spectrum Web site states the selling price at USD239 (check out the 360-degree image of the bottle).
Spectrum plans another auction on March 20 and 21 (Hong Kong time). For more details or for the results of the auction, see the Spectrum Web site.
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It’s great to hear that the first wine auction has been held in Hong Kong. I only hope that it will not be too long before wine enters the lives of those in the PRC as well.
ceo@chinafirstcapital.com