Hong Kong is increasingly the place to buy (and sell) expensive wine. One American wine merchant, the firm Acker Merral & Condit,told Reuters that Hong Kong was arguably the fine wine world's most important market.
The company president nows something about what's so good about Hong Kong; they had just sold good bottles for $6.4 million (214 million baht).
And why is Hong Kong the top place to buy special wine? China, of course,and plenty of new money eager to buy fancy and expensive products. Sure,but also something else which should interest our friends who decide the taxes in Thailand. Hong Kong abolished wine duties. Naughty boys and girls,those tax people in Hong Kong.
Sotheby's there just sold the contents of the cellar of two American collectors.That brought in $7.9 million (263 million baht) in two days. If anyone wants to buy Chateau d'O a modest wine collection for that price, I'm ready to throw in the apartment with the cellar.
According to Serena Sutcliffe, Sotheby's wine director, Asian buyers represented 99 percent at the sale. To her,Hong Kong is now more important than London or New York.
What did you miss? Well, to start with a 6-litre Imperial of Chateau Petrus 1982. It went for $93,000(3.1 million baht), a record for the vintage.
A case of Domaine de la Romanee Conti 1995 sold for $93,077, but if you were not ready to spend that kind of money for 12 bottles of wine (admittedly one of the very best in the world), a case of 2002 was acquired for "only"$85,000(2.85 million baht).
What is amazing is that Asian buyers represented only 7 percent in 2005.Today? At least 61 percent worldwide.
And most of them are Chinese. I wonder if a few members of the Central Committee of the Communist Party of China are among the buyers.Marxism-Leninism, after all, is not what it used to be.
The only danger facing the Asian market, according to Reuters, is overheating. Some of the wines sold in Hong Kong are cheaper in London or New York. Paris obviously is not in the picture.
Chateau d'O failed to taste any Romanee Conti these past few weeks but was fortunate to enjoy the Sole 2009 from GranMonte. This unwooded chenin blanc was distinguished by a Bangkok hotelier a few weeks ago and I can see why. At 12.5 percent it is a lovely white wine with a delicate balance of fruit and acidity.
As winemaker Nikki wrote on the back label, the grapes benefited from a December graced by warm sunshine and cool nights. Grapes were handpicked. This is a first example of GranMonte screw cap. The wine may be young but it is ready. If you like Germanstyle whites, you should be delighted.
And if you are a farang with modest knowledge of written Thai you won't be disturbed by the compulsory notice telling you how dangerous it is to drink alcohol.
Three other GranMonte wines did very well at an international wine competition in Vienna, with three silver medals, including one for the limited release 2009 Sakuna Rose, a 2009 Spring Chenin Blanc and a 2007 Shyraz. The difference between the two chenin blanc is that the first one (the Sole)was made from grapes from the outer vine canopy while the second used grapes from the shaded interior canopy.
Siam Winery, another member of the Thai Wine Association, also did quite well recently. Its new Colombard (with screw cap) is wonderful and everybody I served it to loved its freshness and delicate fruit. It is the work of talented German-born, marathonrunner Kathryn.
Saturday, October 31, 2009
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