By IANS
Hong Kong : Acker Merrall & Condit, a well-known wine shop and auctioneer in the US, will be holding its first-ever wine auction here worth $5 million, marking its foray into Asia.
The auction will be held in Hong Kong’s swish Island Shangri-La Hotel May 31. It will be the city’s first wine auction in 10 years.
The vintage wines on display will include Chateau Lafite, Imperial of 1982, Haut Brion, Latour, Margaux and Mouton Rothschild, Chateaux Petrus, Cheval Blanc and Domaine de la Romanee-Conti Wines.
“The timing could not be better for us to come to the growing marketplace in Asia, which is displaying stronger interest and demand for top quality wines,” said John Kapon, president and auction director of Acker Merrali & Condit.
Kapon also lauded Hong Kong’s effort in exempting wine duties in its financial budget for 2008-09, which he said would boost the local wine market.
“This much-anticipated May sale in Hong Kong promises to be a wonderful opportunity to acquire an exceptional array of wines of the highest quality and rarity from only the best of cellars that I know in Europe and America. It really will be our best foot forward,” Kapon said.
Unlike conventional auctions, Acker Merrall & Condit’s sale will take place in a restaurant setting where registered bidders would bid over lunch and a glass of fine wine.
Acker Merrall & Condit would also hold a range of events showcasing world-class vintage wines after the auction is over, which will also include an array of road shows.