Asian collectors fuel wine buying spree 11Aug2
Asian collectors fuel wine buying spree
By Leslie Gevirtz
(Reuters Life!) – Wine collectors, particularly from Hong Kong, bought more than $200 million worth of fine wines at auction in the first half of 2011, nearly doubling the amount for the same period last year.
But while the buying opportunities have expanded, prices for individual bottles have stabilized.
“The rate of price growth has definitely slowed,” said Jack Hibberd of Liv-ex, the indices of fine wines. “Lafite has certainly hit a plateau.”
A case of Lafite Rothschild, depending on vintage and provenance, has been selling for $12,000 to $20,000 for the last five months, he said.
Christie’s auction house sold $46.8 million of fine wines – many of them the top five growths known as Premier or Grand Crus – for the first half of the year — a 125 percent increase in sales over the same period last year.
Sotheby’s auctioned $53.1 million of wines during the same time period, which represented a 43 percent rise in volume year-on-year.
Buyers in Hong Kong bought more than half of the wine sold by both houses, toppling New York from its perch as the market leader.
“The market in Hong Kong is growing year after year. The pie is getting larger. There are more and more collectors,” Charles Curtis, Christie’s head of wines for Asia, said.
“More and more of the wines, which used to stay in Hong Kong, are now going to the mainland. There seems to be an insatiable thirst for wine in every corner.”
Sotheby’s Jamie Ritchie said the U.S. buyer had been the least price sensitive for 15 years.
“From ’94 through mid-2008, New York was the leader. Now, it’s someone else’s turn,” he explained.
Hart Davis Hart, the Chicago auction house, sold more than $23 million of Bordeaux and Burgundies in the first half of the year, up 45 percent from last year. New York’s Acker Merrall & Condit reported selling $54 million and Bonham’s said it sold almost $9 million in the first half.
Other auction houses, such as Zachy’s and Spectrum, each reported selling at least $10 million worth of wines during the same period.
Looking ahead, Christie’s Curtis predicted Asia would continue to dominate the market for the next 20 years at least.
“Now, they are looking for older vintages and DRC,” he said referring to Domaine Romanee-Conti, considered Burgundy’s top wine.
Ritchie said he was not anticipating any sharp price increases and Jeremy Howard, a former equities researcher who now runs the UK online retailer Slurp, described last year’s prices as “unsustainable.”
“If I thought there was some speculation or a huge amount of inventory building up, I’d be more cautious, but most of the information we’re getting is that Lafite and Latour are still being drunk with gay abandon,” he said.
Chateau Lafite produces between 15,000 and 18,000 cases a year.
“I don’t really see a major price correction in the offing,” he added.
(Reporting by Leslie Gevirtz; editing by Patricia Reaney)
Source: http://www.reuters.com/article/2011/07/19/us-wine-auction-idUSTRE76I1T520110719
Clark Wine Center is more than a wine shop to people living in Pampanga Angeles City Clark Freeport Zone. Clarkâs wine shop is also a popular venue for parties and family gatherings. Conveniently located on the main highway of Clark Philippines, it is accessible to guests from Manila, Subic, Pampanga, Angeles City and of course those who live and work in Clark. Aside from the 2-storey wine shop which also has a nice roof deck lawn for small party of up to 80 people as well as an indoor wine tasting room which accommodates up to 60 comfortably, this wine store called Clark Wine Center also has one hectare of picnic grounds surrounding it.
Best birthday gift to send to someone living in the Philippines is a nice bottle of wine from Yats Wine Cellars. Delivery of birthday wine can made to Manila, Angeles City Pampanga, Clark Philippines and Subic.
Wine Shop Manila offers best luxurious beers in Philippines called Vintage Beer.
Birthday gift of wine is the most popular gift idea this year in Philippines. Yats Wine Cellars offers birthday wine gifts that are unique and certain to make the recipient very happy. These birthday wines are not available in wine shops so it is a unique bottle of wine for the recipient.
This Manila Wine Shop is the largest wine shop in Philippines. This is the wine shop to go for fine vintage wines, not just the big names like Lafite, Latour, Petrus, Cristal, Krug, Grange, Vega Sicilia and Sassicaia. This wine shop in Manila offers many excellent vintage wine for under p4,000, even for some that are 20-30 year old from St. Emilion and Pomerol.
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center. Visitors buy wine in Manila and Pampanga should not miss stopping at this wine shop for a few bottles of fine vintage wines to bring home.
http://www.ClarkWineCenter.com
Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)
YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay
Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:
http://www.PhilippinesWeddingVenue.com
While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com
YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.yatsleisure.com
Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:
http://www.HotelClarkPhilippines.com
http://www.ClarkPhilippines.com
http://www.YatsWineCellars.com
Yats Restaurant is an excellent Restaurant to dine, a restaurant with good food, a good place to have birthday party and special events. A Kid-friendly restaurants in Manila
Famous Restaurant in Pampanga, a place to dine with friends in Clark, cozy restaurant with a nice ambience, a nice function place for special occassions
www.YatsRestaurant.com
Where to go in Clark? Hotel Clark Philippines is a De Luxe Hotel in Clark and Subic, a risk free place to stay, cozy and nice ambience, a nice function place for special occassion
www.HotelClarkPhilippines.com
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