Wine Auctions Set to Reach Record $200 Million; Prices Rise on Asia Demand
Wine Auctions Set to Reach Record $200 Million; Prices Rise on Asia Demand
Sep 16, 2010 6
International wine sales at the three main auction houses look set to reach a record $200 million in 2010 as Asia’s thirst for fine French vintages pushes up prices.The total at Sotheby’s, Christie’s International and specialist auction house Acker Merrall & Condit will likely be double last year’s figure, as Hong Kong becomes a global hub of the market. Demand from China and other countries in Asia is strongest for trophy-label red Bordeaux.
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