The recent years, especially this one and the previous year, 2010 has seen a growing interest within the Chinese and Hong Kong market for luxury alcohol, especially fine wine varieties. Earlier we saw the Hong Kong auction, which bought in more than $11 million in sales, signaling a positive demand and willingness to invest in luxury alcohol in the region. Now we have come across a 55-bottle wine lot of Domaine de la Romancee Conti, which has managed to fetch $813, 333 at an auction event in Hong Kong.
This particular lot of Romanee Conti wine comprises of 55 bottles, ranging in vintage from 1952 to 2007. At the total lot price of $813,333, each bottle works to about $15,000 in price, which by itself speaks about the rising demand for this rare variety, and the willingness of investors to buy rare alcohol for investing and even consumption purposes. We are not aware of how this lot will be treated, but in definitely speaks volumes about how the buyers from the China and Hong Kong region, are opening up to ideas and inculcating new spending and consumption habits.
On recent studies regarding, it has also come to light that newer varieties are being increasingly accepted in the region. Traditionally, wines from Bordeaux and Chateau have previously reigned as favorites in the continent, but since their market is diversifying, and adopting new brands, Romancee Conti and Burgundy are gaining serious ground. They have even achieved some of the highest prices in recent times like this instance.
Also, do check out our coverage of the Dalmore 62 bottle auction, earlier this year. The ultra-rare variety of whiskey has ended up with a Chinese buyer, who picked up his bottle of single malt from the Singapore airport.