Lloyd Webber Sale Sheds Light On The Wine Market In Asia
After realizing he could not drink his large collection of wine itself, "Cats" and "The Phantom of the Opera" composer decided that Asia is increasingly appreciative of the Army super-rich seem to buy everything.
Serena Sutcliffe, head of Sotheby's wine, which is running the auction, "said Lloyd Webber sales in Asia increased stress on the world stage of wine. Collection could raise more than $ 4 million.
Collectors come from countries in the region, including Taiwan, Singapore and Indonesia, although the upper end there are some heavy hitters from mainland China, "he said.
"People buy all kinds of luxury brands here."
John Kapon, CEO of Acker Merrall wine auctioneer & Condit, who is hosting another $ 9 million in U.S. sales in Hong Kong this week, said the company's business is about 65 per percent Asian, up from 25 percent three years ago.
"Part of the reason is that wine is a status symbol," he added. "Some people just want to buy the best."
Hong Kong is the world center of auctioning third after New York and London, thanks in large part by the rapidly growing number of millionaires in China.
Specific Chinese buyers on a regular basis on top of a lot of selling art, jewelry and wine, and Hong Kong has positioned itself as a center of wine in Asia, as well as a great gateway to the Chinese market.
"A large part of our business is concentrated in Hong Kong because of its central location, the international character of the city and a lot of people rich and successful here," says Kapone.
Last year, Sotheby's sold only about $ 52 million came in the former British colony, more than double what their sales of wine in London and three times more than New York.
But unlike Western Europe, a number of Asian collectors do not buy expensive wines to keep the bottles hidden in a dusty basement.
"Many of the hoods pulled," said Sutcliffe AFP. "We are consuming the most expensive wines here. Much more than elsewhere."
Sutcliffe this trend is in the bottle opening to Asia "tradition of hospitality and the desire to impress business associates, an essential ingredient for transactions.
The immense wealth of Webber smash hit musical, which also include "Evita" and "Jesus Christ Superstar" brought the composer meant it could afford to satisfy your super exclusive wines.
He said he decided to dispose of his collection, after realizing it was possible to have too much of a good thing.
"The problem is that if you once fall in love with wine, you can not make sense," he told the Wall Street Journal.
"Someone is going to ring and tell? Andrew, God? Love, there is a lot of very good way and I think you should buy? And I always say yes.
"But there comes a point where you ask, am I realistically going to take it all myself? And in recent years there has been a recognition that I will not go through."
In total, 747 batches of Lloyd Webber will be auctioned Saturday at the Mandarin Oriental, including 21 cases of Chateau Mouton Rothschild, 2005 cases and four of Chateau Haut Brion 1989.
library many French luxury wines is a great advantage, because they are very popular with collectors in Asia and China in particular, because of its "proven reputation," added Sutcliffe.
"It's a great collection, and obvious to Hong Kong because there is a great love for French wines, like Bordeaux and Burgundy. It happens to be a category so popular in this region."