Stable Growth despite Market Corrections
Ravenel Quarterly No. 21 2017/05 / 2017-05-16
Held on two consecutive days, June 3 and June 4, the 2016 Spring Auction Taipei “Finest and Rarest Wines” closed successfully Saturday evening. The auction collected a total of 940 lots. With rigorous selection of wine quality, Ravenel presented exquisite fine wines from the new and the old worlds as well an abundance of Japanese and Scotch whiskies. This year’s Spring Auction reached nearly US$2,400,000 in total revenue and over 70% sold by lot. Facing the market correction in Asian wine auctions today, buyers still gave Ravenel full support to maintain a stable foothold in Taiwan’s fine wine auction market. As always, Ravenel appreciates the continued support and recognition of distinguished collectors everywhere.
The auction began with Bordeaux cellars. The results showed that wines from celebrated chateaus in legendary years were particularly favored. The market of cellar vintages is also recovering stably. The oldest vintage of this auction, Château Margaux 1900, was sold for US$12,979. The rest, such as Château La Mission Haut-Brion 1955, Château Latour 1966 and Château Cheval Blanc 2005, also