Wine and Western art (Spring 2011)

Much like Chinese Works of Art, Wine is one of the most accessible collecting categories. A good deal has been written about the Chinese passion for wine, specifically Bordeaux and top-flight Burgundy. Since February 2008, when the Hong Kong government lifted the 40% import duty on wine sales, auction volume has grown by nearly 1300%, and overall Asian demand has transformed segments of the wine market globally. The Liv-ex Fine Wine 100 Index shows an increase of 40.5% in 2010, mostly attributable to the influx of Asian wine collectors. Drawing parallels to the potential impact Asian interest could have on Western art sectors, the possibility of fierce bidding for top quality fresh works is likely, and a US $200 million record is no longer out of the question.

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