Wine Spectator Report: Has Bordeaux’s Bubble Burst?January 18, 2012
Prices of Bordeaux’s top growths have plummeted during the past six months. A variety of factors are at play, but a major element appears to be changing conditions in China. A new report in Wine Spectator explores the issue, asking whether Bordeaux is facing a routine correction or the bursting of a bubble.
Three recent wine auctions in Hong Kong—held by Sotheby’s, Acker Merrall & Condit and Zachys during the first two weeks of the year—brought in $18.71 million. The same three events brought in $34.59 million in January 2011. Burgundy was a big seller this year, while several top Bordeaux lots sold below estimate.
In extensive interviews with auction executives, negoçiants and other members of the Bordeaux wine community, Wine Spectator explores a variety of different factors behind the slide. For the full report, go to WineSpectator.com.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.