NPR story on China wine market
- JimHow
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NPR story on China wine market
Did any of you hear the story on NPR this past weekend on the China Bordeaux market?
I think this is the link if you are interested:
http://www.npr.org/2010/12/12/131973813 ... and-prices
A case of 1982 Lafite sold for $90,000 in Hong Kong.
The story for me was listening to all these grotesque nouveaux Chinese millionaires and their pretensions in a country where the rest of the 1.5 billion live on, what, a few dollars a day....
They're as grotesque... as hopeless... as we in the U.S. are....
We're all doomed, I tell you....
I think this is the link if you are interested:
http://www.npr.org/2010/12/12/131973813 ... and-prices
A case of 1982 Lafite sold for $90,000 in Hong Kong.
The story for me was listening to all these grotesque nouveaux Chinese millionaires and their pretensions in a country where the rest of the 1.5 billion live on, what, a few dollars a day....
They're as grotesque... as hopeless... as we in the U.S. are....
We're all doomed, I tell you....
Re: NPR story on China wine market
As much as I love Lafite, I don't mind that much giving up drinking it. What I do mind is that the sellers are collectors who appreciate wine and will use their profits to drive up the price of other Bordeaux.
- JimHow
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Re: NPR story on China wine market
I'm really kicking myself, there were like 20 cases of 2005 Lafite on sale for about $575 per bottle (with discount) in New Hampshire a couple months ago. I did some quick math and I estimated I could have earned a profit in the hundreds of thousands by buying up those cases.
For example:
12 X 20 X $575 = $138,000 (in New Hampshire)
12 X 20 X $2000 (conservatively) = $480,000 (in Hong Kong)
Profit: $342,000
I was literally thinking about pulling the trigger.
But I held off for 24 hours....
Within 24 hours, the wines were all gone....
For example:
12 X 20 X $575 = $138,000 (in New Hampshire)
12 X 20 X $2000 (conservatively) = $480,000 (in Hong Kong)
Profit: $342,000
I was literally thinking about pulling the trigger.
But I held off for 24 hours....
Within 24 hours, the wines were all gone....
Re: NPR story on China wine market
Well, not really $342K because you did not subtract selling fee, shipping, insurance, and ordinary income tax. So the gain was likely under $200K.
Do you know whether a former BWEer from NE who is now ITB as a private procurer bought the wines?
Do you know whether a former BWEer from NE who is now ITB as a private procurer bought the wines?
- JimHow
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Re: NPR story on China wine market
Hey even if it was a $100,000 profit-- or $50,000-- it would have been worth it.
I don't think Josh is still in the business, is he?
Last I heard he was in Scottsdale.
I don't think Josh is still in the business, is he?
Last I heard he was in Scottsdale.
Re: NPR story on China wine market
I didn't know Josh had dropped out, Jim.
- JonoB
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Re: NPR story on China wine market
Old news Jim, Lafite has been flying in Hong Kong for about a year now. I really should have bought a few cases of 08 on release. That would have been a tasty profit!!
Jonathan Beagle's Wine Blog
An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
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An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
(ITB)
- JimHow
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Re: NPR story on China wine market
It'll be interesting to see if New Hampshire has any 2008 Lafite this year. They didn't have any 2007, even though they had '07 Margaux, Petrus, Mouton, Latour, Haut brion, Cheval Blanc, etc. Not even any '07 Duhart. Insanity, man. Insanity-plus....
- JonoB
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Re: NPR story on China wine market
There is a merchant in the UK that still has some 09 Petrus, but no Lafite!! Amazing really.
Jonathan Beagle's Wine Blog
An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
(ITB)
An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
(ITB)
Re: NPR story on China wine market
How much can I sell my two cases of Duhart Milon 2005 for?
- JimHow
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Re: NPR story on China wine market
Not enough to make it worth the effort, it is going for $80+ right now at retail.
Hold on to them for a decade or so and, once the Chinese realize this wine is ten times better than Carruades, they'll start selling in Asia in the $300+ range.
I've got a case of the '05 myself, I think I paid like $40 at PJs.
Hold on to them for a decade or so and, once the Chinese realize this wine is ten times better than Carruades, they'll start selling in Asia in the $300+ range.
I've got a case of the '05 myself, I think I paid like $40 at PJs.
Re: NPR story on China wine market
As I've posted, I've been selling some of my Lafite -- all of my Carruades. My 1996 Carruades went for $370/btl! Oddly, my Lafite Magnums are unsold -- I'm told the Far East marked doesn't value larger formats -- go figure. 2000 Duhart went for $100-$120/btl . . . there is commission -- 18-20%.
--Gary Rust
--Gary Rust
Re: NPR story on China wine market
Where'd ya sell it, Gary?
Re: NPR story on China wine market
I think the Lafite lots in that auction were directly from the chateau which explains at least some of the premium in the prices realized.
Re: NPR story on China wine market
Sold mine at Winebid -- 750s first week, but the Mags remain, as do other Lafite Mags -- 1990, others. It's not a sure sell, but the Carruades is a no brainer.
--Gary
--Gary
- JonoB
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Re: NPR story on China wine market
Duh art is trading on the wine exchange in London for between 800-1200 Stg depending on the vintage at the moment.
Better off sending all your Duhart to auction in Hong Kong I think.
Better off sending all your Duhart to auction in Hong Kong I think.
Jonathan Beagle's Wine Blog
An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
(ITB)
An explanation of my 100 point scoring system
Sake Consultant for SAKE@UK the Sake Import Division of JAPAN@UK
President of the Cambridge University Wine Society 2015-2016
(ITB)
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