John Kapon News
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A case of Romanee-Conti 1988 Domaine de la Romanee-Conti fetched HK$1.13 million ($146,000) at an Acker Merrall & Condit wine sale in Hong Kong as the New York- based auction house marked its fifth anniversary in Asia.
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Three magnums of Romanee-Conti 2001 Domaine de la Romanee-Conti Burgundy were top lot at an Acker Merrall & Condit wine auction in New York last week, fetching $61,500, while a case of La Tache 1978 sold for $59,040.
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At Christie’s International’s first New York wine sale of the year on Jan. 25, Krug Grande Cuvee champagne will flow in the presence of Old Master paintings to inspire buyers to bid big, or so the auction house hopes.
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John Kapon, chief executive officer at Acker Merrall & Condit, talks with Bloomberg's Deirdre Bolton about investing in rare wines. (Source: Bloomberg)
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Wine sales at the world’s five biggest auction houses fell by a quarter to about $160 million in the first six months of 2012 as lower prices for top growers combined with investor caution sparked by the economic slump.
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Can Chateau Latour catch Chateau Lafite? We’ll find out on May 27, when vintages from Latour’s cellar in Bordeaux spanning almost 150 years go on sale at Christie’s International in Hong Kong.
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Three double-magnums of Chateau Petrus 1990 and a bottle of the same Bordeaux producer’s 1947 vintage set records at an Acker Merrall & Condit auction in Hong Kong, where the top lot was 1988 Romanee-Conti Burgundy.
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A double magnum of Chateau Cheval Blanc 1947 goes on sale at a Sotheby’s New York wine auction next month, while Acker Merrall & Condit has bottles of Chateau Latour 2003 and a magnum of Cros Parantoux 1988 Henri Jayer.
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In a crypt beneath the French village of Chassagne-Montrachet, Jean-Francois Rateau flicks away a spider sleeping on the dust-encrusted glass neck of Prince Florent de Merode.
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Surging demand for Chateau Lafite and other French trophy labels, especially from Asia, has pushed both prices at auction and wine futures to records. Not all wine dealers are happy.
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