In the last five years there can be no denying that China has been pushing the fine wine market skyward almost single-handedly. No one could have predicted the demand from the Far East which has seen prices for certain wines skyrocket.
In 2012 Christie's sold over £23 million worth of fine wine at just nine sales in Hong Kong. There is still a huge appeal for the most famous wines in this part of the world.
Christie's auction house is now offering a service for Chinese investors that gives them the chance to buy more than just a few bottles of Lafite. The auction house can now offer investors the chance to buy vineyards in Bordeaux.
In 2011 35 chateaux with vineyards in Bordeaux were sold; 21 went to Chinese buyers. In 2012 37 chateaux wre sold, with 23 going to the Chinese. Bellefont Belcier was the first classified vineyard to be sold to a Chinese buyer. Chateau La Fleur Jonquet was sold this week to a Chinese architect called Wengcheng Li. Li already owns two estates.
Please come back next week for Part 2 of our Eye on Asia piece; China Set to Become World Leader at Wine Production