Rare oolong headlines Hong Kong's first tea auction
Honk Kong's first tea auction will feature some exquisite varieties of tea, including a very rare oolong expected to fetch $130,000. More than 40 lots of vintage tea leaves from private collectors in mainland China, Hong Kong and Taiwan will be on sale, with the total sum raised at the auction expected to reach $400,000. The main attraction is a box of narcissus oolong tea, which was first exported from China's famous tea-producing region of Wuyi to Singapore in the 1960s. The 20-kilogram box is expected to sell for $130,000, whereas a pack of puÂ’er tea from China's Yunnan province from the 1950s may sell for up to $50,000. By hosting such a marquee event, Hong Kong hopes to establish itself as a major auction hub for tea among wealthy Chinese buyers.