Chinese thirst sees money pouring into sales of fine wines

first_img whatsapp Chinese thirst sees money pouring into sales of fine wines whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ KCS-content center_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Share WINE has gained more value this year than either gold or shares, driven largely by Chinese demand. According to research from the Bordeaux Index – which tracks live changes in the prices of 80 to 100 of the most traded wines – demand for fine wine grew by 26 per cent in the year to date, and 39 per cent in 2009.Demand for premium wines above £80 far outstrips supply. One wine, Chateau Lafite, is not ready to drink yet, but sold at a Hong Kong auction for £43,000 a case – three times its market value.Wine merchants do not see a speculative bubble forming, despite the rapid price rise. Gary Boom, managing director and founder of Bordeaux Index, says that most wine sold leaves London, suggesting that investors actually consume the wine.The news comes as the Hong Kong International Spirits and Wines fair begins. The Fair is the largest in Asia, and has twice as many vendors this year as last. Hong Kong now has more wine auctions than London, trailing only New York.The Bordeaux Index research also showed prices for the most popular wines climbed 1.7 per cent during October, driven largely by a 45 per cent rise in turnover compared with the same month a year ago.Boom said: “With continued strong growth in both Asia and Latin America – and expected improvements from the US and Europe – we’re confident investors’ money will continue to flow into wine over the next two months.” Thursday 4 November 2010 9:38 pm Tags: NULLlast_img

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