Is Asia’s Wine Boom Stalling?

april 20,2011

Last weekend, Christie’s accomplished a rare feat: It held a wine auction in Hong Kong that didn’t sell out. In fact, only 68% of the lots on offer sold.
That’s a stark contrast to the string of record-breaking auctions in recent months, in which bottles of top Bordeaux and Burgundy fetched astronomical prices. Just the week before, in fact, rival Sotheby’s held a three-day wine sale in Hong Kong that was 100% sold — its 15th-consecutive 100%-sold auction in Asia, a streak going back to 2009.
The Christie’s sale, a special 36-hour two-continent event — the marathon auction began in Hong Kong, was passed over to New York and then concluded back in Hong Kong — showed diverging results. In the U.S., 96% of the lots on offer sold, a better rate than in Hong Kong and a sign of a comeback of sorts in the U.S. wine market, which was hurt by the global financial crisis.
Needless to say, Christie’s executives are putting a positive spin on things. “It was a bit surprising,” admitted Charles Curtis, head of wine, Christie’s Asia. “We had some aggressive estimates, maybe a bit optimistic, but we had wines that had excellent provenance and we believed in it. Does this mark the end of the trend? Nothing close to that — it’s just a bump in road.”
Mr. Curtis added that the most-expensive bottles purchased in recent sales were bought by a tiny handful of Chinese buyers, most of whom weren’t present at the Hong Kong auction last weekend.
Doug Rumsam, managing director of the Hong Kong wine merchant Bordeaux Index, said that the Christie’s auction results “came as a surprise.”
“We haven’t seen any dip in our business…. Demand is still strong,” he said. “I’ve always wondered if the auction houses would continue at this pace unless they could keep regenerating their audience. If not, it was bound to slow down eventually. You don’t just continue spending at the rate some of these guys have been spending. After a year or so of buying very heavily, many [buyers] have completed their cellars and are now very selective.”
In total value of wine sold, the Hong Kong portion of the Christie’s sale outdid the New York portion by a large margin, $8.2 million to $3 million, including the buyers premiums. (That was for 1,016 lots in Hong Kong, 804 in New York.)
And Hong Kong was site of costliest lot sold: 60 bottles of Chateau Mouton Rothschild Bordeaux, one for each vintage between 1945 and 2005, except for 1946. The auction house said a Latin American collector bought it for $123,456, buyers premium included.

Source: http://blogs.wsj.com/scene/2011/04/13/is-asias-wine-boom-stalling/?mod=google_news_blog

Foodies and wine lovers travel north from Manila to wine and dine at Philippines’ best fine dining restaurant in Pampanga Clark Freeport worth the 60-minutes drive for a memorable evening of good food with vintage wine at Yats Restaurant & Wine Bar

This fine dining restaurant is also famous for its low carbohydrates “low carb” dishes highly recommended for frequent diners who are on a low fat food and favor healthy food. This is a unique restaurant that can help frequent diners maintain a healthy diet and enjoy delicious fine dining cuisine at the same time. Vegetarian dishes are a specialty here also and so are “halal” cuisines also.

Favorites of frequent diners, foodies and wine lovers are steaks, Wagyu, Foie Gras, lobsters, venison, kangaroo loin, osso buco, veal chops, Kurabuto pork, escargots and a good selection of cheeses to enjoy with fine Vintage port and Sauternes. Cuban cigars such as Monte Cristo, Cohiba, Upmann, Partagas, Romeo Julieta and Trinidad are also available in the Magnum Room which is a wine bar and lounge for before and after dinner relaxation. A good selection of Armagnac, Cognac, Single Malt, Vodka and other liquor is served in addition to the wine vintage wines some served by the glass.

Recent opinion survey of frequent travelers heading north towards Subic and Clark Pampanga revealed that the number one most frequently visited fine dining restaurant in Pampanga is Yats Restaurant & Wine Bar located in Clark Philippines.

Inquiries and reservations

Restaurant@Yats-International.com

(045) 599-5600
0922-870-5178
0917-520-4401

Ask for Pedro and Kiko

Http://www.YatsRestaurant.com

Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.

Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Angeles City Clark Freeport Zone, Pampanga, Philippines 2023

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

For assistance in hotel and resort booking in Clark, Philippines, log on to http://www.HotelClarkPhilippines.com

For assistance in locating a suitable venue for wedding reception, log on to
http://www.PhilippinesWeddingVenue.com