Home / News / World’s most expensive tea auctioned off in Hong Kong

World’s most expensive tea auctioned off in Hong Kong
25.11.2013

The world’s most expensive tea was sold in an auction in Hong Kong this weekend.

More than 40 rare teas were auctioned off at the event on Saturday, including a 20kg box of highly scarce narcissus oolong tea tipped to sell for £80,000. Some teas were more than 50 years old.

The final profits from the auction are yet to be published, although it was expected that the equivalent of £800,000 was spent during the auction.

Hong Kong is already known as an international hub for fine wine and fine art auctions, yet this rare tea auction is believed to be the first of its kind.

Vincent Chu, who helped to organise the event, believes there is scope for many more rare tea auctions to be completed in the future.

Speaking to msn.co.nz, he said: “The Chinese have a very long tea drinking history, just like French people drinking wine. The auction is like opening a gate to all of Hong Kong people and Chinese tea collectors.

“I think this is a market with a lot of potential – during the 2000s a lot of people bought tea in tonnes and, at certain periods, people were crazily selling tea like they would sell property.”


Have you a question about this article or need any help with your finances?

Name (required)

Email (required)

Telephone Number (required)

captcha

Enter code

Question



adds1
Sign up to our Newsletter
Keep up to date with our news and latest information
Your Name:
Your Email Address: