Art News

Sotheby’s wine sale draws Asia buyers despite turmoil

By: Farah Master
HONG KONG (REUTERS).- Plunging global markets, the sovereign debt crisis in Europe and deepening fears of another world recession failed to dampen Asian buyers thirst for vintage wines at Sotheby’s October wine auction in Hong Kong. The two-day event held October 1-2 put rare Imperials of Chateau Lafite, Latour and Cheval Blanc and Jeroboams of Mouton and Haut Brion under the hammer, as well as a selection of Lafite from the Rothschild’s private cellars. The sale raked in $12.7 million in total. The wine auctions bode well for the rest of Sotheby’s autumn sale that includes fine art, jewelry and rare porcelain, a week-long event that is being closely watched as a barometer of Asian demand for luxury goods at time when economic gloom is spreading globally. New York