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Asian Wine Buyers Outnumber US Nearly 3:1 At Christies Auction
Tara Loader Wilkinson
22 November 2011
Asian buyers of fine wine outnumbered those from the US by nearly three to one, a record, at one of the world’s most prestigious annual
wine auctions hosted by Christie’s last weekend. At the 151th Hospices de Beaune Wine
Auction in Burgundy, which raised €5.4 million ($7.3 million) including the premium, Asian buyers
contributed a record 13 per cent of sales, versus 5 per cent from US bidders.
Europe continues to make up the lion's share of wine buyers, with 84 per cent of
sales going to buyers on the continent. Last year Asians contributed 12 per cent, versus 1.6 per cent from the US and 85 per cent from the states. During last year's 150th sale Asia became the second most
important region after Europe, for its number of registered bidders and the value
of wines acquired, overtaking the USA. This trend was confirmed this
week. “Collectors
and amateurs from 23 nations were buying directly at the Hospices de Beaune
sale this year, which underlines the magnetic nature of this auction for wine
lovers throughout the world. There were numerous Asian buyers in the auction room, as well
as in the streets of Beaune – immersing themselves in Burgundy’s traditional
festivities” said Anthony Hanson, master of wine and senior consultant of Christie’s. At the auction
last weekend, 600 barrels of red wine and nearly 150 of white wine were snapped
up, and 32 cuvées of red wine and 13 of white. However the star of the show was The
President’s Barrel, which sold for €110,000 to Albert
Bichot on behalf of The Antique Wine Company, London. Each year, since 1945,
the Hospices de Beaune has donated the profit of one barrel of wine known as: la
Pièce des Présidents. This year, the president’s barrel of the Grand Cru
Corton Clos du Roi, Cuvée Baronne du Baÿ was a “tonneau”of 460 litres, made
especially for the occasion.