- Products & Services
- Knowledge Base
LONDON, ENGLAND, July 16, 2014 /24-7PressRelease/ -- BWC Management & Consulting was recently asked by China Daily newspaper to comment on a wine auction in Hong Kong. The collection up for grabs belonged to none other than Sir Alex Ferguson, the ex-Manchester United manager who led the famous club to 12 Premier League titles, 5 FA Cup wins, and 2 UEFA Champions League trophies during his tenure.
Sir Alex listed 257 lots for auction, estimated to be worth millions of pounds - a sizeable collection, to say the least.
But Why Hong Kong?
Well, according to Daniel Paterson, BWC Management & Consulting's senior market analyst, interest in blue chip wines from Chinese investors has increased to "staggering levels." Paterson also noted that this trend is mirrored in other BRIC economies such as Russia and India.
The Chinese market has also picked up on the fact that the supply of high value wines has decreased, and the number of collectors worldwide has increased. So it makes sense that Sir Alex Ferguson has chosen to auction off his cellar to a clued in market, where he is likely to reap a high return from keen bidders.
Fine Wine Pays Its Way
BWC Management & Consulting senior broker Samuel Cheung was also quoted in the China Daily article. Cheung highlighted just how high the ROI on top grade wines can be, citing an example where a case of wine purchased in 2001 for GBP1000 would have increased by 180 percent as of last year to GBP2760.
Some of Sir Alex Ferguson's wines were expected to fetch astonishing amounts, with certain cases valued above HK$850,000 (GBP65,000). But despite the high interest in China, the discerning wine buff has saved some 140 lots of his impressive collection for a London auction, a market which is still home to many shrewd wine investors.
# # #