The Hong Kong wine market displayed its strength on the weekend of March 22 at the Spring 2012 Auction held by Spectrum Wine Auctions. The sale, held at the Grand Hyatt Hotel, Hong Kong, saw a realisation of almost $4.5m (HK $34,841,396), with nearly every lot sold.

Hong Kong rare wine sales continue to rise

The records broken included 12 bottles of 2005 JF Mugnier Musigny, which sold for an impressive $41,825 (HK$200,000), making a 67% increase on its estimate. 12 bottles of Rousseau Chambertin 2005 soared past their estimate of $14,000 ($110,000) to achieve $23,900 (HK 185,583).

"While we are thrilled with the records set at our Spring 2012 Auction in Hong Kong, we are especially proud of the quality of the Spectrum Wine Auction experience for both our consignors and our bidders," Spectrum Wine Auctions president Jason Boland said, following the auction.

Attendees of the auction were invited to complimentary tasting of wines including the 1982 Chateau Lafite Rothschild, 1996 Domaine de la Romanee-Conti Echezeau and 1989 Bruno Giacosa Barbaresco Riserva Santo Stefano. A room filled with bidders eager to take home some of the world's finest wines were joined by large contingents of online and telephone bidders from around the world.

The 2012 Spring Auction reinforces Hong Kong's reputation as a leader in live wine auctions. Paul Fraser Collectibles offers expert advice and guidance for those looking to invest in the lucrative world of wine collecting.