Much has been written about the growing world-wide competition for good coffees and the particular effects of the burgeoning Asian consumer market. Much less has been written about Asian-grown coffees, except for India and the infamous Vietnamese robusta.

This week coffees from Pu-er (a district previously famed only for its amazing tea), were offered at the very first Yunnan specialty coffee auction. The top lot fetched $189/lb., the highest auction price for a coffee ever. The 10th highest went for $40. All of the coffees were bought by Chinese roasters. These coffees will be worth watching in the future, although I doubt much of it will leave the Asian markets.

http://dailycoffeenews.com/2015/02/19/w ... y-auction/

I first tried Yunnan grown coffee while traveling there seven years ago. I didn't really have much understanding of specialty coffee at that time, but I remember enjoying it. I'll keep my eye out for any Yunnan beans that show up here in HK. It's good to see a new specialty coffee growing region coming up. Hopefully it serves as a positive boost to Yunnan farmers and the rural economies there.

Keep in mind there is a lot of prestige associated with luxury (expensive and rare) goods, which is why Kopi Luwak, JBM, and many of the top auction lots often go to Asian roasters. I suspect this lot price is probably more indicative of the rising domestic interest in home-grown coffee than a staggering overnight rise to the head of world coffee cupping quality. The same thing happened to the puer tea market in the 90s.

Definitely agreed. I'll be surprised (pleasantly!) if the quality of these coffees is anywhere close to their selling price.

These are "giving face" prices, and shows of support for the event. Like bidding up art at a charity ball to raise money for a cause, good PR and press. Happens at lots of auction events here, also a way to show you are rich, or that you are a "big shot". But, I am sure this region will produce good and better coffees, I have had some excellent Yunnan coffees over the past couple of years.

It'd be interesting to see if any of this coffee ever goes under the scrutiny of a legitimate cupping exercise. Only then can it really prove it's dollar value.

But I'm inclined to agree with Bak. In auctions people get carried away, and if they are particularly rich, you will see stuff like this. I have a $20 bottle of wine that sold for $130K in an auction.

weebit_nutty wrote:It'd be interesting to see if any of this coffee ever goes under the scrutiny of a legitimate cupping exercise. Only then can it really prove it's dollar value.

But I'm inclined to agree with Bak. In auctions people get carried away, and if they are particularly rich, you will see stuff like this. I have a $20 bottle of wine that sold for $130K in an auction.

You may have missed this in the Roast article:

The competition brought together 24 licensed Q-graders from throughout China and Taiwan to score 62 samples from 51 different producers. Former SCAA and CQI executive director Ted Lingle served as head judge. Half of the sampled coffees scored 80 or above, doubling the percentage of coffees earning specialty grade in last year's Pu'er competition.

Also this was not a charity auction. All the bidders were coffee roasters, bidding silently. That said, it is not unusual for the very top coffees at events like the COE to fetch disproportionately high prices. Still $40/lb. for #10 isn't a shabby price, either.

Thanks for the reference! Glad there was much more to it than I thought.

Marshall wrote:The top lot fetched $189/lb., the highest auction price for a coffee ever.

To clarify highest price paid at a live (non-internet) auction. I seem to recall past internet based auctions (COE, Best of Panama, Ground for Health etc.) where a crazy unique special micro-lots went for more.

It certainly does make sense that a world famous tea region with a highly qualified and vastly underpaid labor market would be capable of producing good beans...

I also wonder how much government subsidies play a role in this type of scenario. The china i know would be very aware of how the success of this region will reflect on China's image and would do everything they can to both bolster the image and force exclusivity worldwide by promoting purchases by chinese roasters. Seems to align well with the overall agenda and obvious long term objectives