The global luxury real estate network owned by the fine art auction house, has brought together Christie’s fine wine experts and the network’s luxury property specialists to offer a discrete consultative service for clients looking to acquire vineyards in the world’s most sought after wine regions.
The new service, which is describes as pioneering, was conceived to meet demand from clients at Christie’s wine auctions in Hong Kong requesting expert advice in purchasing overseas vineyard properties.
The firm says that demand for fine foreign wine has grown exponentially in recent years in the region, with the auction house reporting an outstanding total of HK$286.5 million from nine wine sales in Hong Kong last year.
Similarly, demand from affluent Chinese investors for foreign wine has extended to a growing interest in foreign wine producing estates. According to SAFER, (Sociétés d’Aménagement Foncier et d’Etablissement Rural), a quasi governmental entity partly funded by the private sector, in 2011 there were 35 chateaux with vineyards sold in the whole region of Bordeaux and 60% were sold to Chinese buyers. Of the 37 vineyard chateaux sold in 2012, some 62% went to Chinese buyers.
‘This project brings together the knowledge and networks of the world’s leading auction house for wine and Christie’s International Real Estate. We are uniquely positioned to offer this highly specialised vineyard advisory acquisition service and we look forward to this exciting venture,’ said David Elswood, Christie’s international director of wine in Europe and Asia.
‘Vineyards by Christie’s International Real Estate showcases the unparalleled synergy between art and real estate at Christie’s. With the fine and rare wine expertise of Christie’s and the experienced local partners in Christie’s International Real Estate’s network of affiliates, clients have a unique opportunity that only Christie’s can provide,’ said Bonnie Stone Sellers, chief executive officer of Christie’s International Real Estate.
Clients using the service will receive expert advice from Christie’s wine experts, followed by an introduction by a Christie’s property specialist to vineyards available for purchase around the world. Custom travel arrangements and translation services are also provided.
‘It is essential that buyers work with experts who know the industry, operate in the local market, are well connected with local vineyard owners, and are immersed in a region’s wine industry network,’ explained vineyard property specialist Michael Baynes of Christie’s International Real Estate affiliate Maxwell-Storrie-Baynes in Bordeaux.
‘Vineyard markets in sought after locations are often small and discrete, and without expert guidance, buyers never even know they are on the market. It is not uncommon for more than half of our vineyards to be privately listed, never advertised and never placed on websites,’ he added.
