Hong Kong wine auction brings in 64 million

By Jim Boyce

The wine auction held Saturday night in Hong Kong by Acker Merrall & Condit brought in HKD64 million (USD8.2 million), according to Bloomberg:

The top lot, 12 bottles of 1990 Domaine de la Romanée-Conti fetched HK$1.89 million, the high end of an estimated range and an auction record for a case of Romanée-Conti…. The item is one of about 900 lots Acker had expected would fetch a total of $6 million. About 92 percent of lots offered sold. Acker will return for a second auction in November to offer about 1,000 lots, President John Kapon said.

Hong Kong abolished wine duties in February and aims to become a wine hub. Kapon is quoted as saying that Chinese buyers won “about 30 percent of the top 20 lots.”

Grape Wall has no sponsors of advertisers: if you find the content and projects like World Marselan Day worthwhile, please help cover the costs via PayPal, WeChat or Alipay.

Sign up for the free Grape Wall newsletter here. Follow Grape Wall on LinkedIn, Instagram, Facebook and Twitter. And contact Grape Wall via grapewallofchina (at) gmail.com.