When one case of Bordeaux is just not enough, Christie’s is combining its fine wine and real estate segments to help high-net-worth individuals secure their own vineyards. This comes as a response to high demand from customers in China and Hong Kong, according to Luxury Daily
From its 9 wine sales in Hong Kong last year, Christie’s made $36.9 million. Demands for foreign wine from investors in China, as well as for advice on purchasing overseas vineyards at the Hong Kong auctions led to this expanded service.
“Christie’s International Real Estate has the great advantage of being the only real estate network owned by a fine art auction house with a deep knowledge of the wine business,” said Christie’s International Real Estate CEO Bonnie Stone Sellers. The service will truly be one-of-a-kind, mixing its knowledge of rare wines with local partners in Christie’s International Real Estate to help customers access small, private listings around the globe.
The package will include advice from Christie’s wine experts, custom travel arrangements, translation services, and introductions by Christie’s property specialist.
According to the Sociétés d’Aménagement Foncier et d’Etablissement Rural, Chinese buyers bought 60 percent of the 35 chateaux vineyards sold in 2011. Last year, 62 percent of chateaux vineyards went to Chinese buyers.
“In recent years, Asians have become major buyers of both wine and vineyards. We wanted to bring together Christie’s fine wine experts and luxury property specialists to provide a consultative service to clients looking to learn about and buy both fine wines and vineyard properties in the world’s most sought-after wine regions,” Sellers said, “Buying a vineyard isn’t as easy as it may seem,” she said. “We can help assist clients to learn about the wines they want to acquire and to find vineyards to address their interests and realize their dreams.”