Grape Wall of China

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Hong Kong wine auction brings in 64 million

Posted on | June 1, 2008 | 1 Comment

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.”

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One Response to “Hong Kong wine auction brings in 64 million”

  1. Grape Wall of China » Wine word: Robert Joseph on China wine tourism, blind tastings, and more
    August 3rd, 2008 @ 10:59 am

    [...] Kong dropped its wine tax in February and held a record-breaking wine auction in May; a Chinese company bought a Bordeaux winery last fall; China’s wine imports saw major [...]

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