Investing in wine

Asia's thirst for wine cheers investors

Asia's growing thirst for fine wine has helped Hong Kong become the world's biggest centre for auction sales, and makes a compelling case for investment, according to wine auctioneer Acker Merrall & Condit.
John Kapon, chief executive at Acker Merrall Condit, holds bottles of Romanee Conti, 1990, during yesterday's press conference AFP

Europeans are spending less money on wine these days, due to a change in drinking habits and the weakening economy, but strong demand in Asia is keeping the industry's growth story alive, according to MA International, an MA boutique.

Indeed, Hong Kong has even overtaken New York as the world’s biggest wine auction centre, bolstered by the removal of duties on wine in 2008. Much of the demand is driven by investment rather than consumption. Including wine in a portfolio is increasingly common...

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