Chinese wine investment market proving 'increasingly sophisticated'

The head of wine at Christie's China has admitted that individuals from the Far East are becoming "increasingly sophisticated" when it comes to making a fine wine investment.

Simon Tam made the comment following the auction house's successful sale in Hong Kong earlier this month.

Held on Saturday, September 8th, the event generated an exceptional HK$42,316,604 (£3,392,000) with 97 per cent sold by lot and 98 per cent sold by value.

Vertical collections from the Chateaux Latour and Lafite Rothschild proved popular, though the top lot came from the Chateau Mouton Rothschild, with a similar grouping of wines selling for HK$1,080,000 (£86,585).

Mr Tam has noted that these rising prices have come "as buyers grow progressively knowledgeable about grape variety and provenance and develop a keen interest in the culture surrounding wine".

"We anticipate that this heightened sophistication, the underlying trend characterising this market, will only continue to prosper," he added.

Christie's next major auction in Hong Kong is scheduled for November and could see many more high-net-worth individuals looking to buy fine wine.