A new study published in the Chinese Millionaire Wealth Report shares the secret of giving gifts to ultra wealthy Chinese men. It seems that watches are the most coveted gift followed closely by a fine bottle of red wine. Appreciation of the best wines has been growing since the Chinese became a dominant force in fine wine trading in 2009 after organizing a series of Sotheby’s wine auctions. At that event, a bottle of Chateau Petrus exceeded all estimates when it reached a price tag of £58,000. With a strong entry into the world of wine, no one doubted that China was on its way to becoming an international capital for trading in fine wine. The early Chinese market bought wine for its own consumption, but it has now matured into a solid player on the international wine scene.
When the movie God of Gamblers aired in 1989, few Chinese had ever heard of Lafite. But that all changed when a movie star from Hong Kong, Chow Yun-fat spoke the famous lines, “Uncork me a bottle of 1982 Lafite.” Lafite Rothschild became a status symbol overnight and even reached cult popularity. With the increased demand for Lafite, the limited stock became even dearer. According to BWC Managing and Consulting’s senior private portfolio manager, Samuel Cheung, vintage from Chateau Lafite Rothschild will continue to be a source of consistent returns. An increasing number of wealthy individuals in China choose Lafite as a tangible asset that holds its value while consistently appreciating each year. Besides being an excellent investment, Lafite Rothschild is the single brand of wine that is on the top fifteen brands that male millionaires prefer to receive as gifts.
So if you are looking for ways to make a Chinese millionaire happy, give a gift of Lafite!