Hong Kong’s fine wine auctions reveal growing appetite for Italian prestige

22 October 2026

By Rebecca Lo

Raimondo Romani’s Geraldini & Romani Wine Auction will pair rare bottles with Roman cuisine, reflecting Hong Kong’s shifting tastes and rising demand for Italian fine wine on the secondary market. Rebecca Lo finds out more ahead of the event this Sunday.

Hong Kong people enjoy two things with equal fervour: a good deal and a good meal. The combination is a proven winning formula for Raimondo Romani since his first Hong Kong auction in 2011 following the Rome launch of Geraldini & Romani Wine Auction (G&R) in 2004.

On 25 October, Romani will host the live and online sale of 448 lots at the 74-seat AMA Italian restaurant in Hong Kong. Its chef and owner Paolo Monti created a wine pairing menu for lunch designed to work with tastes of the wines on sale, in keeping with the format of seven prior collaborations between the two Romans.

Some of the highlights of the upcoming auction include Giacomo Conterno Monfortino Barolo Riserva from HK$4,250 (£410) and Masseto from HK$3,250 (£314) per bottle; and a rare 1967 Bruno Giacosa Barolo Riserva Speciale Collina Rionda from HK$8,500 (£821).

Yet it is the 2014 Domaine de la Romanée-Conti Romanée-Conti Grand Cru from HK$80,000 (£7,726) that is expected to fetch the highest bids.

When Romani first began auctioning wine in Hong Kong, it was entirely dedicated to Italian labels. “Since then, the quota of French wine—mainly Burgundy—increased significantly,” he said. “Now they cover around 40% of our auction catalogue.”

Italian wine continues to climb

The change reflected market shifts in demographics, budgets and budgets. “When we started, it was mostly the expatriate community in Hong Kong that came to bid; today, expats constitute less than 10% of our audience,” Romani noted.

“Over the past 15 years, we have witnessed several changes in palates as well as a generational turnover. We have customers that first joined our auction when they were university students or recent graduates; now they are preeminent figures in town.”

Romani observed that the secondary wine market in Hong Kong was previously focused on Bordeaux and Italian wines appreciated by more niche wine connoisseurs. Today, Italians wines have climbed to take top positions in Hong Kong collections.

“There is certainly a growing appetite for wines on the secondary market via auctions and merchants,” agreed Gregory De ‘Eb, principal at Crown Wine Cellars, a private Hong Kong club dedicated to the store and enjoyment of fine wines.

“Auctions offer buyers the opportunity to pick up bargains below market prices that they perhaps would not have otherwise considered.”

A shifting market

The decline of Bordeaux on the secondary market in favour of single grape varietals such as Pinot Noir, Nebbiolo and Sangiovese has been G&R’s biggest change. “The great Nebbiolo from Piedmont has become the most popular Italian wine in Hong Kong,” Romani noted. “We have also noticed cooling towards Italian wines produced from international grapes.”

De ‘Eb added that Crown has seen solid, consistent demand for wines from Piedmont and Tuscany.

For his auctions, Romani’s Roman showmanship and experience have made G&R stand apart from online houses including Wine-Ex in Hong Kong and its parent company Liv-Ex. “Liv-Ex tends to focus on big names and large producers with well distributed wines; our approach is different as we concentrate on niche and rare bottles attached with history,” he noted.

De ‘Eb personally felt that in a service-oriented market like Hong Kong, wines purchased through traditional auction houses remain more popular and trusted. “As opposed to chasing AI generated stats, numbers and margins, traditional auction houses are staffed by long-term specialists and experts with a deep love and understanding of wine,” he stated.

“This typically means that buyers and sellers enjoy a personal relationship with an experienced human—so important when collecting a passion purchase. Traditional houses also know the provenance and pre-inspect all stock that is sold. They can assist with storage and transportation. Most importantly, should there be an issue: they have rock solid foundations that offer peace of mind.”

“Auctions were first invented in ancient Rome,” said Monti. “G&R starts with a base price rather than a reserve one. After 15 years of auctioning wine in Hong Kong, it has become a leader with a lot of trust as its sources are always secure.”

Passionate about prestige

G&R auction attendees are different than typical AMA diners. People attending the sale are passionate and predominantly from Hong Kong or the Chinese Mainland. Many are curious to learn more about the wines in a casual, convivial environment—and introduce Monti to a new customer base each time.

The upcoming nine-course degustation menu includes small bites such as fig pizza, Roman style broccoli and skate soup, and stuffed Roman-style courgettes. A bottle from key lots will be opened and timed to pair as flights as dishes emerge each half-hour, concluding with Italian gelato to match digestifs under the hammer such as 2013 Bertani Amarone della Valpolicella Classico DOCG starting at HK$1,500 (£144).

“The wines in the auction are really special,” noted Monti. “We see many customers purchasing them and enjoying them in the restaurant with their dinner afterwards.

“Our own wine list contains more comfortable, easy-drinking wines. It’s good to contrast them with the auction’s range of rare bottles. A label that shows its age is actually a storyteller that shares the route it has travelled.”

To join in the auction, please visit: https://grwineauction.bidinside.com/en/auc/15/the-autumn-sale/1/

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