Would You Buy a $39,700 Bottle of Wine? Someone Did.

Wednesday, 27 November, 2013
Robert Frank, CNBC
Asia's thirst for fine wine seems to have few limits.
A case of 1978 Romanée-Conti Grand Cru sold for $476,280 on Saturday, setting a record for Romanée-Conti and making it one of the most expensive cases ever sold at auction. That works out to about $39,700 per bottle or about $4,900 per glass.

Christie's said the buyer was from Asia. The sale price was more than three-times the high estimate for the case.

The sale shows that despite a slowdown earlier this year in wine sales to Chinese and Hong Kong buyers, demand for the most prestigious bottles remain strong. Chinese buyers are paying especially high prices for Romanée-Conti, which is regarded as the top status wine brand in China.

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