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Wine Auctions Plunge 19% as Chinese Bordeaux Demand Cools

December 19, 2012

Wine sales by the biggest auction houses plunged 19 percent in 2012 as economic and political uncertainty in China cooled demand for trophy-name Bordeaux. Sales by Acker Merrall & Condit, Christie's International, Sotheby's, Zachys and Hart Davis Hart Wine Co., excluding Internet business, raised $322 million with fees this year, down from the record $397 million achieved at equivalent events in 2011, according to data compiled by Bloomberg News.