Is Asia’s Wine Boom Stalling?
June 9, 2011
Private Dining at Bordeaux Room in Yats Restaurant
Last weekend, Christie’s accomplished a rare feat: It held a wine auction in Hong Kong that didn’t sell out. In fact, only 68% of the lots on offer sold.
That’s a stark contrast to the string of record-breaking auctions in recent months, in which bottles of top Bordeaux and Burgundy fetched astronomical prices. Just the week before, in fact, rival Sotheby’s held a three-day wine sale in Hong Kong that was 100% sold — its 15th-consecutive 100%-sold auction in Asia, a streak going back to 2009.
The Christie’s sale, a special 36-hour two-continent event — the marathon auction began in Hong Kong, was passed over to New York and then concluded back in Hong Kong — showed diverging results. In the U.S., 96% of the lots on offer sold, a better rate than in Hong Kong and a sign of a comeback of sorts in the U.S. wine market, which was hurt by the global financial crisis.
Needless to say, Christie’s executives are putting a positive spin on things. “It was a bit surprising,” admitted Charles Curtis, head of wine, Christie’s Asia. “We had some aggressive estimates, maybe a bit optimistic, but we had wines that had excellent provenance and we believed in it. Does this mark the end of the trend? Nothing close to that — it’s just a bump in road.”
Wine and dine in fine dining Yats Restaurant Burgundy Room
Mr. Curtis added that the most-expensive bottles purchased in recent sales were bought by a tiny handful of Chinese buyers, most of whom weren’t present at the Hong Kong auction last weekend.
Doug Rumsam, managing director of the Hong Kong wine merchant Bordeaux Index, said that the Christie’s auction results “came as a surprise.”
“We haven’t seen any dip in our business…. Demand is still strong,” he said. “I’ve always wondered if the auction houses would continue at this pace unless they could keep regenerating their audience. If not, it was bound to slow down eventually. You don’t just continue spending at the rate some of these guys have been spending. After a year or so of buying very heavily, many [buyers] have completed their cellars and are now very selective.”
In total value of wine sold, the Hong Kong portion of the Christie’s sale outdid the New York portion by a large margin, $8.2 million to $3 million, including the buyers premiums. (That was for 1,016 lots in Hong Kong, 804 in New York.)
And Hong Kong was site of costliest lot sold: 60 bottles of Chateau Mouton Rothschild Bordeaux, one for each vintage between 1945 and 2005, except for 1946. The auction house said a Latin American collector bought it for $123,456, buyers premium included.
Source: http://blogs.wsj.com/scene/2011/04/13/is-asias-wine-boom-stalling/?mod=google_news_blog
Fine dining in Manila Philippines, wine and dine at Yats Restaurant & Wine Bar, great wine list
Banquet settings for business and social functions
Many tourists traveling north to Baguio or Bataan make a stop at Clark Philippines to relax and unwind at this famous fine dining restaurant. Conveniently located in the Mimosa Leisure Golf Estate, next to the Casino and the well known 36-hole championship golf course of Mimosa, frequently visited Yats Restaurant & Wine Bar is a well known destination for tourists and residents of Angeles City Pampanga and Manila to be one of the best fine dining restaurants in the Philippines. Wine lovers from Manila and all other cities in Asia already know of Yats Restaurant for its award winning 2700-item wine list. This resto bar is generally regarded as the best restaurant in Clark Pampanga.
Places to go during holidays in Philippines, wine & dine in Clark at Yats Restaurant & Wine Lounge, one of 600 restaurants in the world to win Wine Spectator’s Best of Awards of Excellence Wine List.
Recent opinion survey of frequent travelers heading north towards Subic and Clark Pampanga revealed that the number one most frequently visited fine dining restaurant in Pampanga is Yats Restaurant & Wine Bar located in Clark Philippines. Reasons given include good food, excellent service, an elegant, cozy and upscale ambience, availability of exclusive private dining rooms, a nice garden for outdoor alfresco dining and cocktail parties. There are two very impressive wine cellars that contain some of the world’s finest wines and rare vintages. Yats Restaurant is already recognized as one of the top rated restaurants in the Philippines. It is frequently visited not only by local residents but also tourists arriving in the Philippines for a memorable dining experience.
The best place to hold group dinners in Clark Pampanga is Yats Restaurant and Wine Lounge. Located in the upscale and quiet location of Mimosa Leisure Estate that is famous for its Championship golf course and the Clark casino, this top rated restaurant is highly recommended for event organizers looking for a good restaurant to hold group dinners. Companies in Subic and Angeles City Pampanga frequently choose this restaurant in Clark for meetings, parties and functions. Residents of nearby Angeles City, San Fernando and other cities of Pampanga travel to Clark to hold their group dinners and social gatherings in this popular restaurant in Clark. Yats Restaurant is well known among residents of Manila to be a place to visit whenever they travel out of town on a getaway to the north towards Subic, Tarlac, Baguio or Pampanga. Very often, group dinners, family gatherings and social functions are held in this famous restaurant in Clark Philippines.
Maple roasted canadian turkey breast with cured bacon & rosmary jus
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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For assistance in hotel and resort bookings in Clark, Pampanga, Philippines, log on to
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To buy wine in Manila, Pampanga, Angeles City, Clark or Subic please log on to http://www. ClarkWineCenter.com
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