Auction Index Hits Record High

Hong Kong surpasses United States as world’s largest wine auction market
Mar 31, 2011

Erasing two years of decline and then some, the global wine auction market has rebounded in a big way. In the second half of 2010, the Wine Spectator Auction Index rose to 338.73, the highest point since its inception in 1995. The 8.12 percent increase over first-half levels reflects both a rise in investor confidence (the Dow Jones gained 19 percent during the same period) and the escalating presence of Asian buyers pursuing cellar-worthy wine. Wine Spectator auction correspondent Peter D. Meltzer reports.

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