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.’

About Author

Chris Losh

After five years working on My Weekly magazine (during which time he learned how to write horoscopes and make things out of mince) in 1995 Chris Losh entered the world of drinks writing and, despite all advice from his doctor – and the wishes of most South African winemakers – has stayed there ever since. He began on Wine and Spirit International, editing it for several years before moving on to edit Wine Magazine. Both publications have since gone the way of the Dodo, but he claims to have nothing to do with their demise, and his alibi appears solid, since he was freelance writing for anyone who would pay him at the time. In 2007, he helped to set up both Imbibe magazine and the Sommelier Wine Awards, and has spent much of the last three years eating, drinking, and listening to French sommeliers talk about minerality. In 2009 he was shortlisted for the Louis Roederer Feature Writer of the Year, but didn’t win. Perhaps he should have stuck to horoscopes. And mince.

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