Wednesday, November 17, 2010

Lafite and the Chinese Dragon

Hot on the heels of the news of the extraordinary price paid for three bottles of 1869 Chateau Lafite (not far short of $250,000 a bottle) paid by a Chinese collector, Christie’s New York sales on November 12 and 13 included a mini vertical of eight vintages of Ch Lafite from 1996 to 2002, offered at what seemed to be a high estimate of $70,000. In fact, the lot realised $120,000, or $15,000 per bottle. (Given the approximate parity of the Australian and US dollar, there is no need to express the precise currency.) Is this the beginning or the end of March Hare madness?

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