A New Trend in Passion Investment: Vineyards By Christie's International Real Estate
Christie’s International Real Estate is the only global luxury real estate network wholly owned by a fine art auction house. Earlier this month, it announced the launch of an innovative advisory service for international buyers of vineyard estates. Vineyards by Christie’s International Real Estate is the first program of its kind. It brings together Christie’s wine experts and luxury property specialists to offer a new service for those looking to acquire vineyards in the world’s most sought-after wine regions. Currently, these regions are in France, California, Oregon, Portugal, Spain, Argentina, and New Zealand.
This pioneering program was implemented just this month to meet new demand from clients at Christie’s wine auctions in Hong Kong and in China, as buyers needed expert guidance in purchasing overseas vineyard properties. As examples of this new interest, Christie’s reported an outstanding total of HK $286.5 million (US $36.9 million) from nine wine sales in Hong Kong last year. Similarly, demand from affluent Chinese investors for foreign wine has evolved into an active interest in foreign wine-producing estates. According to SAFER, (Sociétés d’Aménagement Foncier et d’Etablissement Rural), in 2011 there were 35 chateaux with vineyards sold in the whole region of Bordeaux, 60 percent were sold to Chinese buyers. Of the 37 vineyard-chateaux sold in 2012, 62 percent went to Chinese buyers.
Recently, we interviewed Clayton Andrews (Senior Vice President, Central Regional Manager of Christie’s International Real Estate) about this new Christie’s vineyard dimension, due to this new interest.
JustLuxe: How long has this Vineyards by Christie's International Real Estate been in existence?
Clayton Andrews: The program was launched in May 2013 because of the growing needs of vineyard buyers around the globe. We wanted to bring together Christie’s fine wine experts with luxury property specialists from Christie’s International Real Estate to provide a consultative service to clients interested in the world’s most sought-after wine regions. Buying a vineyard isn't as easy as it may seem. We can assist clients in learning about the wines they want to acquire and to find vineyards to satisfy their interests and realize their dreams. Only Christie’s combines both the wine and vineyard expertise.