18.01.2011 - Vinexpo news selection
Auction houses sold more than $350 million worth of wine worldwide in 2010, an amount roughly in line with or exceeding their pre-recession levels of 2007. And all of them credited their sales in Hong Kong or Asian buyers for the spike in sales figures.
Sales in Asia were "particularly robust" said John Kapon, president and auction director of Acker Merrall & Condit, which reported total sales of $98.5 million for 2010.
"Hong Kong has now overtaken New York as the world's largest wine auction center," Kapon said.
Acker Merrall was the latest house to report following those of Sotheby's, which auctioned off more than $88 million worth of fine wines and Christie's which said it had sold $71 million. (Reuters / 28 December 2010)