Hong Kong Now World's #1 Wine Auction Market, Surpassing London & New York

This weekend, Sotheby's began a five-day string of auctions in Hong Kong -- continuing until October 8 -- with auctions of fine wine from the cellars of two anonymous American collectors. Though one of the world's newest hubs for wine, due to a combination of ending wine duties, encouraging mainland buyers to take part in wine auctions, and growing demand both in Hong Kong and in mainland China, Hong Kong has within a few short years become the world's #1 auction market for wine, overtaking traditional leaders London and New York.