Moutai: Chinese liquor fetches $1.4 million at auction at Sotheby’s UK
CNNHong Kong CNN Business — A rare case of China’s fiery national liquor has sold for more than $1 million, more than five times what experts had estimated it would fetch. The lot included 24 bottles of 1974 Moutai sold under the “Sun Flower” brand — which had temporarilyreplaced the company’s flagship “Flying Fairy” logo for export sales during China’s cultural revolution — according to Sotheby’s. “We have seen some spectacular results for Moutai sold in Hong Kong, but this momentous price takes the baijiu spirit’s standing amongst collectors to new heights,” Paul Wong, Sotheby’s Moutai specialist, said in a statement. “Whilst current travel restrictions may prevent our clients from moving around, this has proved no impediment to the growing momentum of Moutai’s popularity outside Asia.” Kweichow Moutai, which is part state-owned and part publicly-traded, is China’s most valuable firm outside of technology — worth more than the country’s four biggest banks. Moutai baijiu — the type of liquor the company makes — is a clear, potent spirit that’s been dubbed “firewater,” thanks to the fact that it’s 53% alcohol.
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