The market for fine and rare Bordeaux and Burgundy in Hong Kong may have reached saturation point, one leading expert has claimed.

Bonhams' international director of wine Richard Harvey told the Drinks Business that the region has reached a "new stage" when it comes to sales of fine wine.

With a number of top auction houses - such as Acker Merrall & Condit, Christie's and Bonhams - running auctions in November and December, some have been forced to lower their estimates for a number of lots.

Mr Harvey says that at the moment there is just too much wine being put in front of buyers in the Hong Kong market. He explained: "Having spent a week there it made me realise that there's a mass of wine floating around, all this stock with nowhere to go. There's simply too much for Hong Kong to consume itself."

Hong Kong became a destination for fine wine sales as it acts as a gateway to the Chinese market and its growing legions of wine lovers.

Import taxes were abolished for wine in a bid to encourage more trade, but Mr Harvey does not believe this has had the desired effect.

He said: "The whole aim when Hong Kong abolished taxes was that it would become a hub but it's not a hub, it's a warehouse.

"[With] two or sometimes more auctions a week, buyers can pick and choose as they know they can find the same stuff somewhere else next week."

However, Acker's last Hong Kong sale of the year shouldn't struggle for bidders, as three "superlots" go under the hammer.

These include a 55-bottle vertical of Domaine de la Romanee-Conti, a 57-vintage vertical of Chateau Petrus and a 101-part collection of Chateau Mouton Rothschild.