Fake Wines Pose a Threat to Hong Kong, Industry

Hong Kong has become the hub of wine collectors and consumers since 2008, when the tax on wine was abolished.

FAKE WINES: A Sotheby's employee handles a Mag of Chateau Lafite Rothschild 1959 Jan. 2011 in London, England. Fake wines sold in Hong Kong may threaten the wine industry. Dan Kitwood/Getty Images

Counterfeit wine in Hong Kong must not be taken off the radar, said a wine expert and connoisseur this week.

Speaking to South China Morning Post, Simon Tam, also the founder of Hong Kong’s Independent Wine Center, warned that cheap knock-offs of expensive French labels still pose a threat to the wine industry in Asia Pacific.

Tam says that his friends had been offered as much as HK$10,000 (US$1,200) for an empty bottle of Chateau Lafite 1982.

The bottles are then filled with cheap wine and sold on the market for a discounted price of HK$40,000 (US$4,800). The regular market price for Chateau is around HK$100,000 (US$12,000) per bottle.

“We have to act fast,” Tam told the South China Morning Post, before warning the region’s new wine lovers to examine their purchases carefully.

Hong Kong has become the hub of wine collectors and consumers since 2008, when the tax on wine was abolished.