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China switches its attention from Bordeaux to Burgundy

Burgundy has truly "arrived" in the Asian wine market, according to one leading auctioneer.

Charles Curtis MW, head of wine for Christie's in Asia, told the Drinks Business that all the recent sales indicate Burgundy is the "next big thing" for the growing number of Chinese wine enthusiasts.

Top Burgundy brand Domaine de la Romanee-Conti is being seen as an excellent investment opportunity, while other labels, such as Domaine Armand Rousseau, are being bought for immediate consumption.

"There's a huge movement in many directions among the avant garde wine collectors here but the mindset is very much Burgundy, Burgundy, Burgundy," said Mr Curtis.

While knowledge of Burgundy wine remains limited, there is a clear eagerness to learn, he explained: "We did a dinner with a retrospective of 1970s Burgundy and we had two Domaine de la Romanee-Contis out of the 14 wines but other labels that aren't so well known here.

"That dinner sold out quicker than anything we've ever done even with a price of HK$23,000 (£1,850)."

Speaking more generally about the state of the wine market, the expert explained that there has been a "correction" in prices paid for the top wines in Asia, particularly when it comes to First Growth Bordeaux such as Chateau Lafite Rothschild and Chateau Latour.

"People who are buying now are much more savvy buyers," he said.

"In 2009 and 2010 people were paying crazy prices for some wines but they know now it doesn't have to cost that much."

John Kapon, chief executive of Acker Merrill and Condit, agrees that the market for Bordeaux got "a little overheated", after one of the firm's Hong Kong sales saw top Bordeaux fail to achieve estimates.

He told Decanter that that Burgundy is the new focus in Asia, explaining: "Burgundy is sizzling at the moment. China is waking up to the fact that Burgundy can make some of the world's greatest wines."
 



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Demand for Burgundy in China is surging.
Demand for Burgundy in China is surging.
Demand for Burgundy in China is surging.