The 12th Asta del Barolo Wine Auction Concluded Yesterday With Bids Totalling EURO 39,320.00 / HK$ 428,600.00

HONG KONG, March 15, 2011 /PRNewswire-Asia/ --Taking place simultaneously in Italy, Hong Kong and Singapore on 13 March, the 12th Asta del Barolo Wine Auction, organised by the Accademia del Barolo, achieved bids totalling EURO 39,320.00 / HK$ 428,600.00 well in excess of the expected HK$  350,000. Amongst the 3 participating countries, Hong Kong achieved the second highest bid total of EURO 11,560 / HK$ 126,000 following Italy's EURO 16,510 / HK$ 179,960.

(Form the left) Mr, Alessandro Pozza, Managing Director of CINZIA MAINI WINES; Ms. Alessandra SCHIAVO, the Italian Consulate General of Italy; Mr. John Dibble, the auctioneer as well as a founding Member of the Cavalieri D'Alba ( Knights of Alba) in Hong Kong

All of the 36 lots of vintage Barolo , known as the "King of Wine" were sold, with the highest bid going to the commemorating lot of 12-bottle of Barolo DOCG 2006 Vintage, celebrating the 150th anniversary of the "Unification of Italy". This EURO 4,000 / HK$43,600 bid came from Italy and was almost double the previous highest bid of EURO 2,050 / HK$ 22,300 set in the 2008 auction.

Out of the 36 lots, 11 were "knocked down" by Hong Kong. The third highest bid went to Hong Kong for EURO 2,200 / HK$ 23,980 by Mr, Lau Chi Sun, in Hong Kong.

The Hong Kong auction took place at H One restaurant in the IFC complex and was attended by more than 60 wine lovers, including Italian Consulate General of Italy, Ms. Alessandra Schiavo and Mr. Roberto Rella, an entrepreneur and owner of Roberto's Ristorante in Dubai,who came to bid for their favourite Barolo. The auction started at 8:30pm and was simulcast live from the Castle of Barolo Wine Museum in La Morra, Italy.

Commenting on the record breaking auction result, organiser of the Accademia del Barolo auction, Mr. Gianni Gagliardo said: "We last held this action in Hong Kong in 2008 and we were so delighted that we could hold the 12^th edition of the auction in Hong Kong." He continued: "The auction was very successful and we achieved two important objectives. Firstly, to promote Barolo to the world; and secondly, to raise money for the hotel school in Cambodia. We were also happy to see that there are many Barolo lovers in Hong Kong and Singapore."

The total amount raised from the auction will be donated to the Don Bosco School of Sihanouk Ville in Cambodia where it will be used to purchase teaching materials and equipment.