Downturn in Chinese Wine Collecting?
Downturn in Chinese Wine Collecting?
Dec 13, 2011 6
(WSJ) - Is it possible that the Chinese love affair with first growth Bordeaux and Chateau Lafite in particular, is on the rocks? Recent auction results suggest that this may be the case, and that the Lafite phenom was something of a speculative bubble. Not as extreme a bubble as, say Dublin real estate in the oughts or Dot.com stocks in the nineties. But, the market is definitely cooling. At an Acker Merrall & Condit auction in Hong Kong this past weekend, more than 50 lots of Lafite went unsold, including prime vintages such as 1986, 1996 and 2005. Many lots of Mouton Rothschild also went unsold. A year ago this would have been inconceivable.
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