Mexico City, Mexico

As Asia continues to grow increasingly affluent this century, the baton of economic prosperity is rapidly changing hands. This time, the Chinese are the supreme leaders in fine wine collecting – surpassing London and New York following a milestone auction.

Hong Kong has overtaken London and New York as Sotheby's largest wine market after an auction last weekend sold $7.9 million dollars to a wealthy Asian collectors. With the exception of 2008, the Liv-Ex 100 Fine Wine Index of leading vintages has outpaced stocks, bonds and real estate this decade. The index is largely comprised of Bordeaux.

A mainland Chinese wine connoisseur doled out a staggering $93,077 for a six litre bottle of 1982 Chateau Petrus Imperial. The sale boosted China to the top of the fine wine table – outpacing New York and London in 2009 with a cumulative $14.3 million in wine sales. Only five years ago, Chinese buyers were virtually non-existent.

Crown Wine Cellars, a Hong Kong-based company that runs a wine storage facility, claims business from mainland China has risen 300% to 400% over the last 18 months as the Chinese race to collect fine wines.

Over the last ten years investors have contemplated whether collecting rare vintages is a smart investment – or an expensive endgame as bottles are ultimately consumed. Investors can buy their favourite vintages online at Liv-Ex where a ticker tape (like stocks) trades the most liquid vintages daily in London.

The best long-term results are achieved by those speculators who purchased fine wine by the case, not individual bottles. Or perhaps buying the index might not be a bad idea, either. Since 1988, the Liv-Ex 100 Fine Wine Index has gained 12.2% per annum.

Have a good weekend. See you on Monday,