China's craze for Burgundy

While the blue-chip reds of Bordeaux will always be considered the original collectible wine and the benchmark by which all others are judged, a proper cellar will contain a diverse assortment of wines across a number of vintages and châteaux.

If the extent of your wine knowledge stops at Lafite and Latour, you are missing out on a whole world of wine out there - namely, the delightful world of Burgundy.

When someone is hit by the urge to collect Burgundies, they are almost spoiled for anything else. It recalls the old English adage: "Burgundy for kings, port for lords and claret for gentlemen."

Earlier this year, we were given the honour of offering the once-in-lifetime auction of Fine and Rare Wines: From the Private Cellar of Henri Jayer. That sale surpassed everyone's expectations and was a sign for things to come. This year continued to be a great year for rare Burgundies in auction, further demonstrating the enduring passion of Asian buyers for wines from the Burgundy region.

The future of the market for Burgundy looks bright. Production of Burgundy wine is smaller and therefore more difficult to obtain. The organisation of the region is more complicated, and the wines are more subject to variation by vintage and by grower. This element of rarity has increased demand, and as prices for Bordeaux wines have dropped, Asian interest in collecting Burgundy has grown.

Top Asian collectors are aware of the top two names in Burgundy, Domaine de la Romanée-Conti and Henri Jayer, but they now also know Leroy, Rousseau, Roumier, Mugnier, Ponsot, Dujac, Leflaive, Lafon and Coche-Dury, among others.

The demand for Burgundy wines in Asia is likely to increase as Asian buyers continue to mature in their tastes and diversify their collections beyond blue-chip Bordeaux wines. The culture of collecting fine wine across vintages and châteaux has spread across Asia, and has particularly taken hold in China recently.

Older Burgundy vintages not only have a lasting appeal for the discerning connoisseur, but also have great investment potential.

A 1953 La Tâche was previously worth US$1,500 (S$1,800) on average, but is today worth twice that. In 2005, a magnum 1971 Romanée Conti on average went for US$12,000 in auctions; the price now exceeds US$34,000. Asian buyers also love to pair Burgundy with their native seafood dishes and have noted that due to Burgundy's softer effects on the palate, it can be even more versatile with food than Bordeaux.

Yet, to be a true connoisseur of wine, a diversified collection is essential, and that includes wines from a variety of revered vinous regions. As the Asian palate for wine expands, collectors are looking for a high-quality alternative red to Bordeaux, and Burgundy is a perfect fit.

A demand for greater variety

The Chinese have become increasingly discerning and sophisticated in their purchases.

They are not buying wine in the same way as before, when they would buy up everything, from top vintages of the most prestigious châteaux to only average wines.

These changes reflect a more mature market and increasingly refined palate as the Chinese market demand calls for a greater variety of top-quality wine. Buyers are starting to diversify beyond the wines of Château Lafite-Rothschild and the other first-growth châteaux from Bordeaux, and are now purchasing wines from other châteaux such as Leoville Las Cases and other "Super Second" growth châteaux as well as from the great Pomerols and St-Emilions produced across the river, such as Pétrus, Le Pin, Lafleur, Ausone, and Cheval-Blanc. Older vintages and larger formats are also becoming more widely collected.

Whites from the Bordeaux region such as the superlative Château d'Yquem, the Haut-Brion blanc and La Mission Haut-Brion blanc are also heralded by Chinese clients, demonstrative of an increasingly refined palate.

Burgundies from the Domaine de la Romanée- Conti, Henri Jayer and others have continued to grow in popularity in recent sales.

Further, as public awareness about wine grows, a burgeoning number of middle- class Chinese drinkers are looking beyond the household French names to wines of quality at various price points.

More and more winemakers from Spain, New Zealand, and Chile are targeting the China market and setting their sights on China's middle class, making collectors increasingly more aware that there are a myriad of choices available to them.

Tips from Christie's wine specialists

Christie's wine specialists advise buyers to pay attention to detail when selecting rare, collectible wines.

Dealing with a long-established and trustworthy supplier is key. The older and finer the vintage being sought, the more thorough one needs to be when inspecting each of the bottles or cases of wine one is looking to buy.

When Christie's receives an enquiry into a potential consignment of a rare bottle of wine, its department will choose among a wide range of checks to conduct on the wine. They may, for example:

1. Closely examine the cork, along with the bottle, the glass and the label, to determine if these are of the claimed period.

2. Check the wine level and do comparative analyses with similar bottles or vintages.

3. Investigate the provenance of the lot, working with the potential consignor and/or experts for answers to questions on its history.

4. Sample the wine if there are multiple bottles in the lot.