What austerity drive? Chinese develop taste for Scotch and Japanese fine whisky
Budding legion of aficionados on the mainland and in Hong Kong have thirst for good whisky
The latest whisky auction in Hong Kong is testament to the increasing popularity of exotic liquors throughout China.
In its first auction of Scotch and Japanese whisky, which ended on Friday, Hong Kong's Asian Art Auction Alliance saw 51 rare bottles traded for a total of just under HK$730,000, for an average price of HK$14,290.
A 45-year Karuizawa white aqua cask#1946, estimated to be worth between HK$70,000 and HK$98,000, finally fetched HK$96,000 to become the most expensive bottle at this auction.
"The results are better than expected," Elaine Cheung, the auction house's operation director, said. "Whisky is becoming more and more popular in Greater China, as our bidders mainly consist of Hongkongers and mainlanders."
A shortage of the most prized bottles in recent years has successfully stirred up the appetite for whisky.
Prices for the 1,000 most collectable bottles of Scotch single malt surged by 219 per cent between 2008 and the end of November 2014, according to the consultancy firm Rare Whisky 101.