Skinflint UK to lose out to Asia in fine wine market

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Drinks: Drinks, Wines
Other: Business

The UK is increasingly going to lose out to Asian markets when it comes to fine wine.

That’s the assertion of Simon Tam, head of wine for Christie’s Hong Kong.

In a powerful speech at Cape Wine, the globally respected auctioneer and expert on the global fine wine market was scathing about the price sensitive nature of the UK in particular.

Producers of top wines, he said, should be ‘going to places where they want your wines and are prepared to pay for it’.

He also suggested that, by the time the world wakes up to the potential of South Africa’s top Cabernets, Asian fine wine collectors would probably take the lot.

‘When Asia takes off and gets into South Africa, there won’t be anything left for the rest of the world,’ he said.

‘Anyone who’s not looking at Asia now is not going to survive in 20 years.’

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