By Giles Cadman – Venulum
The market for fine wine continues to be strong in 2012. The results of the most recent major auction in Hong Kong are testimony to the improving and strong market.
Acker Merrall & Condit, the world’s leading wine auctioneer and America’s oldest fine wine merchant, held its 20th Hong Kong sale on 30 & 31 March and achieved an impressive total of HK$58,311,930 / US$7,475,888 and was 95% sold. An exceptional selection of over 1,000 lots of world-class fine wines offered attracted bidders from around the world.
John Kapon, CEO of Acker Merrall & Condit Companies, commented after the sale: “The wine market today is humming with variety and vitality. While Bordeaux and Burgundy maintained their strong demand as usual, fine wines from the rest of the world were also greatly welcomed by buyers, illustrated no better than the appetite for the direct consignment from the cellars of Antinori. Collectors are seeking diversity and more than just the traditional favorites, which is great for the overall market. Of course, those favorites still dominate the top lots, but it is great to see the market active from A to Z.”