Value of chateau Lafite Rothschild surges
The value of chateau Lafite Rothschild is on the rise, driven by the economic recovery and interest from Chinese investors, it has been revealed.
Sotheby's in Hong Kong sold three cases of 2000 chateau Lafite Rothschild for HK$266,200 (£22,400) earlier this month, around three times the amount it sold for in New York two years ago, Bloomberg reports.
Meanwhile, the value of fine wine in general has seen a considerable rise over the past year, after something of a nose-dive following the collapse of Lehman Brothers.
Miles Davis, a partner of Wine Asset Managers, said that the Chinese appetite for fine wine is a strong driver behind the recovery.
"Lafite is still taking the lead role and is making other wines look extremely cheap," he told the news provider.
"Demand from Asia is enormous."
Late last month, billionaire wine collector William Koch began a lawsuit against auction house Christie's, which he claimed had knowingly sold him counterfeit chateau Lafite Rothschild.