Wine Auctions Drop 19% In 2012

Photo: A case of Chateau Lafite-Rothschild from the 1982 vintage. It sold for 32,200 pounds at an auction of a private collection of Bordeaux wines at Sotheby's in London on Jan. 25. Another case sold for $33,460 at Hart Davis Hart in Chicago on Dec. 8. Source: Sotheby's via Bloomberg

Wine Auctions Drop 19%, Chinese Demand Cools For Bordeaux -- Bloomberg

Wine sales by the biggest auction houses plunged 19 percent in 2012 as economic and political uncertainty in China cooled demand for trophy-name Bordeaux.

Sales by Acker Merrall & Condit, Christie’s International, Sotheby’s, Zachys and Hart Davis Hart Wine Co., excluding Internet business, raised $322 million with fees this year, down from the record $397 million achieved at equivalent events in 2011, according to data compiled by Bloomberg News.

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My Comment: More proof that money is getting tighter.