Sunday, 8th November 2009

 

17 October 2008 - Tara Loader Wilkinson

Asian wealthy buoy wine sales

Sales of expensive wine is being buoyed by Asian buyers, who have flocked to London after tax changes in Hong Kong allow wine to be imported duty free.

Wine sales at Sotheby's this Autumn have raised nearly £3.5m(€4.4m), a 64% increase on equivalent sales last year, fuelled by growing demand from Asian investors.

The top lot at this week’s sale was 12 bottles of Château Pétrus 1982 which sold for £39,100. A crate of Château Lafite 1959 also surpassed expectations, realising £27,600.

Many of the top lots in the most recent sale were from Burgundy growers which are favoured by Asian drinkers, according to Sothebys.

Tags: Sotheby's

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