This article uses hammer prices from five global auction houses to analyse the price premium Bordeaux fine wine yielded at Hong Kong wine auctions over the period 2007 to 2014 . We find that fine wine was on average sold at a 19% premium on the Hong Kong market . The strong latent demand by Chinese customers coupled to wine market characteristics are put forward as an explanation for this premium . We further observe that the Hong Kong premium is not uniform and most pronounced for wines with perfect Parker scores or for the most powerful brands . The premium has declin ed through out the sample period from 60% in 2008 to establish itself at a level of 15% since 2012. This can be attributed to the increase in knowledge on fine wine by Chinese customers