Red obsession: the ascent of fine wine in China

Masset, Philippe (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland ; Bordeaux Wine Economics) ; Weisskopf, Jean-Philippe (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland ; Bordeaux Wine Economics) ; Faye, Benoît (INSEEC ; LAREFI ; Bordeaux Wine Economics) ; Le Fur, Eric (INSEEC ; LAREFI ; Bordeaux Wine Economics)

This article uses hammer prices from five global auction houses to analyse the price premium Bordeaux fine wine yields at Hong Kong wine auctions. We find that fine wine is on average sold at a 19% premium in Hong Kong. We further observe that the Hong Kong premium is not uniform and most pronounced for wines with perfect Parker scores and the most powerful brands. The premium has declined throughout the sample period from 60% in 2008 to a level of around 15% since 2012. This can be attributed to the increase in knowledge on fine wine by Chinese customers.


Mots-clés:
Type d'article:
scientifique
Ecole:
Ecole hôtelière de Lausanne
Classification:
Économie/gestion
Date:
2016
Pagination:
26 p.
Titre du document hôte:
Emerging markets review
Numérotation (vol. no.):
December 2016, vol. 29, pp. 200-225
DOI:
ISSN:
1566-0141
Le document apparaît dans:



 Notice créée le 2017-02-14, modifiée le 2017-11-23

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