U.S. Surpasses Hong Kong in Wine Auction Totals for First Time Since 2010
U.S. Surpasses Hong Kong in Wine Auction Totals for First Time Since 2010
Jul 17, 2012 6
(WineSpectator) - Amid the backdrop of European economic troubles, a sputtering 2011 Bordeaux futures campaign and a high-profile wine counterfeiting case, prices for fine wine at U.S. auctions fell in the second quarter of 2012. The Wine Spectator Auction Index—which tracks the prices of fine wine sold in U.S. auctions—registered a decline of 4.97 percent, dropping from 332.05 points in the second quarter of 2012 to 315.54. But this quarter also marked the first time in almost two years that global tables have turned in favor of U.S. auctions, as sales volumes from Hong Kong auctions fell significantly.
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