My Article: How Long Can HK Auction Frenzy Last?

LONDON (DEC. 11, 2010): Just getting ready to go watch Crystal Palace play with my son and some friends, and this arrives in my mailbox:

Hong Kong, 11 December 2010 – Acker Merrall & Condit, America’s oldest fine wine merchant and the Number One Wine Auctioneer in Asia and the World, concluded its record-setting year with a spectacular, two-day Hong Kong sale held at Island Shangri-La and Grand Hyatt Hong Kong.  Approximately 1,000 lots were offered and a total of HK$61.2 Million/US$7.85 Million was realized with an exceptional sold rate of 99.3%, contributing to Acker Merrall & Condit’s 2010 full-year Hong Kong sales total of HK$493 Million/US$63.2 Million. These staggering figures reaffirm Acker Merrall & Condit’s leading Number One position in the wine auction market in Asia and the World.  The strong results also confirm that Hong Kong has overtaken New York as the world largest wine auction centre, when considering global results.

Hong Kong is where the action is in fine wines. There is no doubt. I just have to wonder how long these incredible prices and crazy buyer demand for the best wines on earth will last? Fascinating world we live in.