The Shay Rebellion | Christopher Shay

Vintage Wines Fetch Record Prices in Hong Kong

by Christopher Shay

Hong Kong may be better known for its char siu bao than its chardonnay, but the wealthy city is making a surprising bid to become one of the world’s most important markets for fine wines. Last weekend marked another milestone: In the second of its two major wine auctions held this year in Hong Kong, Sotheby’s on Oct. 3 and 4 sold $7.9 million worth of vintage wines, taking the house’s total wines sales in Hong Kong to $14.3 million in 2009 — eclipsing its sales totals of $10.5 million in New York and $8 million in London. Although New York is expected to remain overall the largest market for vintage vino for now, Hong Kong is gaining fast; the city’s nouveau oenophiles are expected to splash out a total of some $60 million this year in wine auctions, twice as much as London’s stuffy old guard. Read the rest of this entry »

Hong Kong: The World’s Most Expensive Real Estate?

by Christopher Shay / Hong Kong

Home prices in overcrowded Hong Kong have traditionally been high, but when it comes to having the most expensive residential properties in the world, the Chinese metropolis has never seriously challenged cities like New York, London and Tokyo. Read the rest of this entry »