How much money, or company control, changed hands this week is a mystery. 'At 3.3 percent a month, how can they be good people?'"ĭo we know if that '85 Mouton Rothschild was real? What if he bought it from Acker Merrall?
'We have to assume that it's always going to be bad debt,' he added. Wearing loafers and no socks, Mr Ting whirled a glass of 1985 Château Mouton Rothschild from his collection of more than 50,000 bottles. The Journal added this tasty tidbit: "'We don't loan to friends,' the banker said, while sitting in his wine store. Ting charges the highest interest rate allowed by Chinese regulators – four times the prime lending rate, now 6 percent – and adds consulting fees that can boost the total borrowing cost to 50 percent per year." In 2013, Ting told the Wall Street Journal: "I am a loan shark but a legal one." The Journal reported: "Mr. It's owned by Raymond Ting, chairman of a group called Credit China Holdings. It had a public stock offering in October 2015 and the stock has done very well currently it's nearly double its initial price. In 2014, Acker Merrall paid an undisclosed settlement to billionaire Bill Koch to settle his lawsuit over $2 million of wine he bought that turned out to be counterfeit.Īs for Madison Wine, it's a Hong Kong wine retailer founded in 2012. The parties involved are famous, or notorious, depending on how you look at it.Īcker Merrall & Condit was founded in 1820, and was well-known long before it became convicted wine forger Rudy Kurniawan's preferred auction house. Rare Wines Create Bidding "Frenzy" at Hong Kong AuctionĪfter Kurniawan's Conviction, What Now for Fine Wine? This was one of many questions I have today after reading a mystifying press release headlined: "Madison Wine Announces Its Intention to Acquire World's Largest Auction House Acker Merrall & Condit." Related stories: How can a four-year-old Hong Kong retailer buy a huge chunk of America's oldest wine store? Finally, Champagne lovers are also well looked-after, with a complete vertical of Clos du Mesnil Krug Vintange Champagne from 1979 to 1998 ( Lot 830).įor more information on the auction and its offerings, please visit CEO John Kapon led Acker's move into Asia now Asia is moving in on Acker. Most of the wine auctions in Hong Kong tend to focus on French wines, so if you're a fan of new world wines, Lot 178 - a Screaming Eagle Cabernet Sauvignon from 1997 – may be the lot for you.
Read more about lesser-known dessert wines here. If you're a fan of dessert wines, look out for Lots 992-995, four cases of 1976 d'Yquem. Bordeaux collectors, on the other hand, can fight over Lot 238, a case of 1961 Lafite Rothschild Lot 253, two cases of 1982 Lafite Rothschild and Lot 224, two cases of 1982 Pétrus.
#Acker wines full#
Lot 276 is a rare full case of 1978 Jayer Richebourg, which the auction house highlights as one of its most important lots.
Burgundy lovers should keep an eye out for Lot 271, a magnum of 1971 Romanée-Conti, as well as Lot 272, a jeroboam of the same vintage. With over 1,000 lots with an estimated value of over HK$60 milliion, here are some of the top ones to bid on: After the success of its auction back in January, America's oldest wine merchant Acker Merrall & Condit will be holding its 14th auction in Hong Kong this weekend (March 25-26) at the Island Shangri-La and the Grand Hyatt.
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