Rare Burgundy, Bordeaux and Champagne will be going on sale in the City of Paris annual wine auction.

The Credit Municipal de Paris - the City of Paris' treasury - will host the sale on November 16th, following on from the success of last year's sale, Decanter magazine reports.

There are more than 400 bottles going under the hammer, with particular highlights being 1970s-1990s Domaine de la Romanee Conti and 1959-1964 Salon le Mensil, which should achieve in excess of £2,000 per bottle.

"We decided that since we already auction all manner of objects - jewellery, paintings and even vintage clothing – wine would be very popular," auction director Rene Saragosti told the publication.

Hong Kong's chief secretary Henry Tang Ying-yen recently declared that Hong Kong will soon be taking the place of New York as the number one destination for wine auctions worldwide, following numerous successful Bordeaux and Burgundy sales in the region.