Reality check for Bordeaux prices
Bordeaux prices could be approaching a reality check in 2012, according to experts.
A Reuters report predicts that prices will stabilise or even fall in the coming year, partly because Asian buyers will moderate their spending.
James Ritchie of Sotheby's said: "I think generally speaking demand in Asia has changed from 'buy at any price' to 'buy at what I consider a reasonable price'."
Richard Harvey of Bonhams said a mixture of increased supply and the problematic economic situation would apply downward pressure on prices.
According to Reuters, wine sales at Acker Merrall & Condit reached just over $110 million in 2011. Christie's believes its sales will be more than $90 million, Sotheby's reports wine business of $85.5 million and Bonhams achieved $17 million.
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