America’s Top Wine Auction House to hold its First Auction in Hong Kong in May
  Largest wine auction ever in Asia valued at over US$5 million

Hong Kong - After a dry spell of nearly 10 years, Hong Kong is ready to play host once again to an international wine auction.  Acker Merrall & Condit is thrilled to announce its inaugural wine auction in Hong Kong on 31 May 2008 at the prestigious Island Shangri-La Hotel.  With an estimated value in excess of US$5 million (HK$40 million), it will be the largest wine auction ever staged in Asia.  Acker Merrall & Condit is America’s most established wine merchant and biggest wine auctioneer with a record total of more than US$60 million in both 2007 and 2006. This significant event is destined to captivate the hearts of many wine collectors and connoisseurs throughout the region.

Marking the return of wine auctions in Hong Kong after nearly a decade, this unprecedented sale will feature all the cream of the crop in wine lots, especially tailored to the Asian buyer’s taste for only the finest of wines. Château Lafite, the dream wine for many top wine collectors in Asia, will take center-stage. An exceedingly rare Imperial of 1982, as well as cases of Lafite in original wood from 1982 to 2003 should have Asian connoisseurs chomping at the bit to get in on the action. In addition there are numerous dream lots of all the other “First Growths” (Haut Brion, Latour, Margaux and Mouton Rothschild), Châteaux Pétrus

and Cheval Blanc, many original cases of Domaine de la Romanée-Conti wines and numerous others of the world’s most sought-after wines. 

Acker Merrall & Condit will bet its reputation that Hong Kong, with its recently changed wine tax structure, is ready to rightfully recapture the title of “wine capital of Asia.”  The auction will take place on 31 May, right after Vinexpo, another glamorous wine event that will also be held in Hong Kong in May this year. 

John Kapon, Acker Merrall & Condit’s President and Auction Director, said: “The timing could not be better for us to come to the growing marketplace in Asia, which is displaying stronger interest and demand for top quality wines. The full exemption of wine duty proposed by John Tsang Chun-wah, Financial Secretary of Hong Kong, in his recent 2008-09 budget speech, will give a further boost to the local wine market.  Hong Kong is ready to run on the fast track to becoming a global wine hub, alongside New York and London, and we are committed to facilitating Hong Kong’s vision in achieving this as America’s oldest and finest wine merchant.”

“For the novice and astute collectors alike, it is an excellent time to purchase and invest in wine. We already have many clients in Asia, who well know our commitment to quality and excellence in regard to what we offer. This much-anticipated May sale in Hong Kong promises to be a wonderful opportunity to acquire an exceptional array of wines of the highest quality and rarity from only the best of cellars that I know in Europe and America.  It really will be our best foot forward.”

Of particular note, Acker Merrall & Condit will bring a new perspective to wine auctions in Asia by conducting the sale in its unique New York style. Unlike any other conventional auctions, the Acker Merrall & Condit sale in Hong Kong will take place in a restaurant setting, where the registered bidders can indulge in a sumptuous lunch and drink fine wines whilst bidding in this exciting sale.
 
Leading up to this grand wine sale will be a series of incredible events including several dinners featuring top Burgundy and Bordeaux wines, all held in some of Hong Kong’s best known restaurants. One of them features Allen Meadows, aka The Burghound, and a fabulous group of wines from the fabled Domaine de la Romanée Conti. Another event will showcase top Bordeaux First Growth wines. There will also be two special lunches held at Crown Wine Cellars, featureing wines from the heralded and much-demanded 2005 vintage.
“This is going to be an amazing week, and I hope Hong Kong is ready to show to the world that it is serious about its wine, because we are bringing some serious wines,” said Mr. Kapon. “At the same time, Acker Merrall & Condit is ready to bring the show on the road in its quest to be the world’s premiere wine auction house,” Mr. Kapon added.