Hong Kong’s fine wine investment market has shifted away from Bordeaux, reflecting changing patterns in the city’s wine consumption, an industry specialist has suggested.
Linden Wilkie from the Fine Wine Experience in Hong Kong has told the Drinks Business that sales of the popular variety have recently dropped in favour of Burgundy. The trade magazine quoted Wilkie as saying that the trend has been supported by recent Burgundy-dominated auctions. According to Wilkie, consumers have been increasingly looking for alternatives to Bordeaux following several disappointing en primeur campaigns. He further explained Hong Kong’s changing fine wine investment market with the rise in interest for premier cru and village wines and that buyers are looking for more “everyday wines”.
“Our Burgundy tasting with Allen Meadows was hugely popular and again, not just with serious collectors. Previously Burgundy was just for the very elite, but now more casual enthusiasts are interested which reflects a huge change in the market,” Wilkie remarked.
The China Portraits 2015 report released last month, showed that the country’s wine market had been going through a “fundamental transformation” over the last three years. He commented on the trend: “We are moving from the era where prestige wine was only bought as a face-enhancing gift towards a world where consumers care more about how it tastes – because they will be drinking it themselves – and how much it costs, because they are more likely to be paying for it themselves as well,” Wine Intelligence’s chief operating officer, Richard Halstead, said at the time of the release.