Visitors to VineExpo Asia-Pacific sample wine in Hong Kong, May 25, 2010.Mike Clarke / AFP / Getty Images
Bordeaux Breaks the Bank: Are Chinese Aficionados Fueling a Wine Bubble? -- Time
This post is in partnership with Worldcrunch, a new global—news site that translates stories of note in foreign languages into English. The article below was originally published in Le Nouvel Observateur.Asian millionaires' thirst for the best Bordeaux wines has sent prices skyrocketing, and the most prestigious Châteaux have been turning astronomical profits as a result.
At a May 17 auction in Hong Kong, new Chinese millionaires were fighting over the few wines that Château Latour — which was rated as First Growth under the 1885 Bordeaux Classification — brought out of its wine cellars. It took Christie's seven and a half hours to sell the 392 lots. Château Latour, which belongs to François Pinault, had planned to stimulate wine collectors' thirsts by putting 19th century wines up for auction, including one bottle dating back to 1863 which sold for 48,730 euros.
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My Comment: Considering how expensive these wines have become over the past few years ... I would have to say yes .... the Chinese have created a "wine bubble"
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