Lafite Leads $347 Million Hong Kong Sale Amid Stock Swings
Lafite Leads $347 Million Hong Kong Sale Amid Stock Swings
Sep 30, 2011 6
(Bloomberg) - Eight days after global equity markets lost $3.5 trillion in a week, Sotheby’s begins a Hong Kong sale of wine, art and jewels that will test the strength of China’s growing market for luxury goods.
It takes 12 catalogs weighing a total of 30 pounds (13.6 kilograms) to detail the 3,400 lots of Qing porcelain, Chateau Lafite wines, Chinese art and jade necklaces that New York-based Sotheby’s forecasts will help draw more than HK$2.7 billion ($347 million). Stocks have increased on hopes for a euro-region rescue fund, and the volatility won’t put off wealthy bidders from China, according to art dealers such as Stuart Marchant.
Comments