Lafite Demand Cools, Auction Growth Slows to 14% in Debt Crisis
Lafite Demand Cools, Auction Growth Slows to 14% in Debt Crisis
Dec 20, 2011 6
(Bloomberg) -- Growth in wine sales by the leading five auction houses slowed to about 14 percent this year from 75 percent in 2010 as the global financial crisis cooled demand for Chateau Lafite-Rothschild and other top Bordeaux producers.
Sales by Acker Merrall & Condit, Christie’s International, Sotheby’s, Zachys and Hart Davis Hart Wine Co. still achieved a record of about $405 million this year, helped by a late flurry of activity this month, according to data compiled by Bloomberg News. That total compares with $353.7 million in 2010.
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