Bordeaux Index breaks January sales record
4th March, 2010 by Alan Lodge
Bordeaux Index has posted record monthly sales figures, fuelled by booming demand for fine wine from the Far East.
The London-based merchant sold in excess of £8.1 million worth of fine wines in January alone – 72% higher than its 2009 monthly sales average of £4.7million. Asia witnessed a huge uplift in fine wine demand in the run-up to the Chinese New Year, which was celebrated on 14 February.
On some days, orders from the Far East alone reached £500,000, according to the trader, including a single order for Château Lafite worth £200,000. A statement from Bordeaux Index said: “Demand from Asia has sustained the fine wine market through the recession.
“In China, some buyers concerned about the threat of inflation are choosing to invest in assets like fine wine.
“Thousands of others are simply buying fine wine to enjoy it, with Lafite, Mouton and Haut Brion amongst the most popular choices.
“As a result, Hong Kong recently surpassed London as the world’s second largest wine market, behind only New York." In 2009, Bordeaux Index’s sales from the Far East comfortably outstripped every other geographic region, accounting for 51% of the company’s trade.
The proportion of Bordeaux Index’s business from Asia has been steadily growing year-on-year, up from 30% in 2007. Bordeaux Index expects interest from Asia to drive continued high-demand from the region.
“The 2009 Bordeaux is tipped as the ‘Vintage of the Century’,” says Bordeaux Index founder Gary Boom.
“We fully expect the Asian market to invest heavily in this vintage, which will help continue to drive significant growth in the wine market in 2010.”
Alan Lodge, 04.03.10