Weak global economy fails to dampen fine wine sales
Weak global economy fails to dampen fine wine sales
Nov 22, 2011 6
(Reuters) - In good times collectors buy fine wines and in bad times they buy even more, the latest wine auction figures show.
Leading wine auction houses are reporting bumper results for 2011. Christie's sales have totaled $77.7 million globally, more than last year's $70 million and there are auctions scheduled for Amsterdam, London and Hong Kong before the end of the year.
"Despite the bleak news of the weak economy globally and last week's markets, I have to tell you, I'm still encouraged. There is a lot of interest and a lot of buyers" for wines that can sell for tens of thousands of dollars a bottle, said Robin Kelley O'Connor of Christie's.
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