Hong Kong wine duty eliminated
I know this quite a few days late but I really wanted to comment on this. Hong Kong has eliminated their duties on wine after having them last year (they went from 80% to 40%). The implications of this in my opinion could be huge and we are already seeing some repercussions. Two US wine auction house have already announced that they will be holding auctions in Hong Kong. Vinfolio, is trying to make further inroads into the market, announced prior to duty elimination.
Will this create a new powwer center in the world of fine wine?