Christie’s draws a balance and dares to make a prediction for 2010

“At the end of 2009, buyers were outbidding each other, particularly Asian buyers bid outstanding prices, which we did not expect to be this high,” says a Christie’s spokesman. Christie’s total annual revenues surpassed the 50 million dollar mark in 2009. Christie’s remark on this: “This validates our leading position in the global auction market in regard to rare and high-quality wines.”

„We have already started to select wines for t spring 2010 during the fall-season 2009,” said a Christie’s spokesman. “We put together interesting wines for the first auction in March and are pleased that we are furthermore able to present a great diversity and top quality wines in 2010.” (We reported)

In 2010, the auction house will focus on exquisite and rare wines, which amongst others come from Burgundy, the Champagne region and Italy. Thus, those who buy from Christie’s place great value on how the wines have been stored so far and their current state. “We do not want to disappoint wine enthusiasts, that is the reason why we only buy our wines from trustworthy sources,” explains Christie’s spokesman.

“In our opinion, we do not have a crisis, but we are very optimistic about how the wine market will develop in 2010,” explains a Christie’s spokesman. The spirited purchase of Asian customers and the good reception from customers in Great Britain gives us hope for another year filled with highlights. The growing cultural understanding of Asians as well as the general strength of the Asian economy are the driving force behind our auction successes.”

According to Christie’s, wine markets in Singapore and Taiwan are growing disproportionately and Hong Kong’s wine market is now ready for large auctions, and has thus managed to surpass the leading locations in London and New York long since. American and British wine enthusiasts are meanwhile travelling to Hong Kong, so that they would not miss special and rare wines. (aw.yoopress)