How much wine was served before this auction began?
A symbol of status packaged in the form of a case of wine sold at an auction in Hong Kong for $476,280, as reported by CNBC. It was the highest price ever paid for wine at an auction. The auction by Christie’s occurred over the weekend.
Twelve bottles of1978 Romanée-Conti Grand Cru originally valued at about $1,200 sold for three times more than its pre-auction estimate.
The high-end auction house sold $9 million worth of wine at the three-day event, selling a total of $1.6 million worth of Romanée-Contiwine. The auctioneer identified the buyer as an Asian without further details.
When a billionaire, such as Wilbur Ross, CEO and chairman of WL Ross & Co., says that something costs too much, maybe it is time to think twice about spending so much on such items. Mr. Ross wryly points out that it is an alternative to traditional investment.
….In an interview with CNBC Monday morning, billionaire Wilbur Ross said that prices for fine art and wine have gotten "a little bit extreme." Asked about the Romanée-Conti sale, he joked: "I don't think I have clothes good enough to wear while I'm drinking $400,000 wine. Just save it."