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London : The February wine auction bodes well for Sotheby's

Par Vitisphere Le 16 mars 2009
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London : The February wine auction bodes well for Sotheby's
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he February auction at Sotheby’s represented a turnover of £600,000 sterling, 10% above the highest estimations; 98% of lots were sold (96% in value), thanks, mainly, to the interest of Asian buyers and demand for older vintages. “Wine sales are in a good way again after autumn’s disarray,” remarked Dan Abernethy for Sotheby’s. “And these are only the first vintages from Bordeaux which have been sold, Australia and California as well. (…) The prices aren’t, however, as high as last summer, but these falling prices have certainly tempted buyers into participating in the sales. (…) Asia has shown a keen interest in this auction, as well as Europe, the Middle East and South America. The weakness of the pound attracts buyers from all around the world.” The interest expressed by Asian buyers is a good sign for Sotheby’s, who are preparing to host their first auction in Hong Kong on the 4th April.

[Source: Decanter]

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