The east is red

摘要

Fine Bordeaux used to be the world's poshest wine. But in the past 18 months the price of leading labels has plunged. David Elswood of Christie's, an auctioneer in London, says a case of Lafite Rothschild 1982 that cost ￡70,000 ($uo,ooo) two years ago now goes for ￡30,000. The reason is changing appetites among Chinese buyers. In past years they stoked the boom (prices rose by 35% in 2006).