You are currently viewing the International Edition. You can also switch to the Hong Kong Edition.
Wednesday 1 July 2015

Asian buyers help Hospices to record sales

19th November, 2012 by Lucy Shaw

The Hospices de Beaune auction enjoyed record sales of €5,909,276 this weekend, with Asian buyers accounting for 12% of value sales.

Carla Bruni-Sarkozy, Guy Roux and Christie’s France president François de Ricqlès

Organised by auction house Christie’s, a total of 407 barrels of red and 111 barrels of white wine were sold at the 152nd annual auction, with the President’s Lot going under the hammer for €270,000 – its second highest price ever.

“The superb quality of the 2012 vintage, combined with the reduced quantity and the progression of global demand for great Burgundy contributed to this astonishing record result,” said Christie’s senior consultant Anthony Hanson MW.

While there were 30% more Asian buyers at this year’s auction than last year, Pierre-Henry Gagey, president of the Burgundy Wine Council (BIVB), said Burgundy plans to take a “prudent” approach to wine sales in Asia.

Asian interest in the auction reflects the increase in demand for Burgundy in both Hong Kong and mainland China, which has raised concerns that more traditional markets might be deprived of rare Burgundy if the trend continues.

In response to increased Asian interest in Burgundy, a BIVB office opened in Shanghai this month, though much of the demand in 2012 has been fuelled by the Japanese market, with 2012 sales up 35% in value.

The 15th century setting of the annual Hospices de Beaune auction

“Japan could be the second largest export market by the end of the year. At the rate that it’s going, Japan could surpass the UK on sales,” Louis-Fabrice Latour, president of the Negociant-Growers Federation of Burgundy said.

Carla Bruni-Sarkozy, France’s former first lady, added glamour to this year’s charity auction held in a 15th century former hospital for the poor.

She wielded the hammer during bidding for the President’s Lot, a 350-litre barrel of Corton Grand Cru, Cuvée Charlotte Dumay, which was bought for €270,000 by Maison Bichot on behalf of the Ukrainian Igor Iankovskyi.

The proceeds will go to Le Fondation Carla Bruni-Sarkozy, a Lyon-based charity that helps epileptic children.

Meanwhile, a new grand cru from the Côte de Nuits was offered for the first time: Echézeaux Cuvée Jean-Luc Bissey. All six barrels sold for €50,000 each.

Burgundian winemakers have had a tough 2012 growing season, with late frosts, hail and mildew combining to cut yields by up 50% on 2011 at some estates.

A shortage of grapes resulted in two of the 46 cuvées made under the Hospices label not being produced this year, while the total number of barrels under the hammer was down by 249 on last year.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

If that's interesting, how about these?

Bilingual 'tool' demystifies wine tasting

The Australian Grape and Wine Authority has developed a new "tool" which more...

Burgundy headlines at Acker’s June HK auction

Featuring smaller-sized lots and classic vintages of Burgundy and Bordeaux, more...

Wine from Napoleon’s carriage to be sold

A bottle of wine apparently found in Napoleon’s carriage after Waterloo – more...

Warehouse Supervisor

London, United Kingdom

£27,000-£30,000 depending on experience

Virtual reality could treat alcoholism

Virtual reality therapy is a "promising approach" to the treatment of alcohol more...

Gene makes alcohol 'healthy' for the liver

A lab rat study pioneered in Shanghai has found a gene that turns alcohol into more...

Top 10 wine brands 2015

In a year that saw major shifts in the global wine market, the drinks business more...

Social Media Editor

Competitive

How to become a 'wine expert' in four hours

A doctor of psychology has devised 10 simple steps which he claims can set you more...

Burgundian négociant celebrates gin smuggler

Burgundian négociant, Vallet Frères, has allowed a special bottling of more...

China’s Ningxia region launches wine contest

Select winemakers will have the chance to travel to China to learn from its more...

10 of Hong Kong's oldest bars

To commemorate the 18th anniversary of Hong Kong’s handover on 1 July 1997, more...

Oregon producer takes international view

One of Oregon’s youngest wine estates has partnered with Jackson Family Wines more...

Robert Parker says sorry to Burgundy

Robert Parker has admitted to the drinks business that he was “too more...

Head of On-Trade Sales

London, United Kingdom

Men down $1k of ‘aphrodisiac’ wine at airport

Two Chinese air passengers downed an entire bottle of aphrodisiac wine after more...

Chinese student builds house out of beer bottles

An engineering graduate and his father have built a two-storey house made out more...

Mumm rereleases key vintages in Hong Kong

Due to the region's increasing interest in bubbles, G.H. Mumm has relaunched more...

E-commerce, Sales & Marketing Executive

London, United Kingdom

Competitive salary and bonus package based on experience and qualification.

Austrian wine importer launches in Hong Kong

A wine importer specialising in Austrian wines has launched in Hong Kong to more...

Beer festival in China’s Muslim area angers 'exiles'

In China’s predominantly Muslim region of Xinjiang, exiled groups of Uighur more...

Top 10 architectural wonders of the wine world

You don't have to look far to find stunning examples of architectural prowess more...

London Sales Manager / Key Account Manager

London, United Kingdom

Competitive - depending on skills and experience

Top 10 Hong Kong craft beer bars

Anyone looking to quench their thirst with a ginseng microbrew should more...

The week in pictures: Hong Kong

The new Veuve Clicquot cocktail, the indefatigable Etienne Hugel and tasting more...