Asia

On March 12 in Singapore the renowned House of Rémy Martin will offer a unique decanter of its famed Louis XIII cognac (above) from the 1930s for sale at about $70,000. The precious elixir will be on offer at the Master of Spirits event organized by DFS, one of the world's leading travel retailers, in partnership with Changi Airport. The Baccarat crystal decanter contains Louis XIII Grande Champagne Très Vieille Age Inconnu cognac dating back to the mid-19th Century, a crown jewel of the House of Rémy Martin.

The decanter, certified by the Rémy Martin's cellar master Pierrette Trichet, was created from a series of carafes that were served as part of a royal banquet in 1938 at the château de Versailles in the presence of His Majesty King George VI and Queen Elizabeth. It comes presented in a unique seamless full-grain leather and rare wood box set. In addition, Rémy Martin will offer for sale two of the last remaining carafes of Louis XIII Rare Cask and one magnum decanter of Louis XIII Black Pearl at the prestigious event.

Modern architecture-loving travelers will love the destinations featured by our friends over at Departures . The magazine took a look at Asia's coolest design hotels, which are some of the most impressive properties in Shanghai, Bangkok, Hong Kong and Singapore. These properties are "sleek super towers and seemingly impossible, imagination-defying structures" according to the luxury magazine that is published by American Express publishing.

Today's Asian luxury hotels are influencing Western hotels, while once it was the opposite, according to Edwin Heathcote, architectural critic for the Financial Times. The most significant new hotels each have something that is memorable, the Departures piece explains. In some, it's the restaurant that's the most memorable; in others, it's a soaring sky bar or a penthouse suite. In others it is the structures themselves that are redefining skylines.

Hong Kong
According to Departures, Hong Kong has also opened itself up to a host of contemporary international architects who have put their stamp on the city, from Foster + Partners to Cesar Pelli to I. M. Pei. Recently, at the 117-room Upper House (from $425), local Andre Fu-known for doing the home of actress Michelle Yeoh-has created an ideal, almost spiritual, balance of uncluttered spaces. "The design is not Asian in a literal manner," Fu told Departures, "but it reflects a subtle Asian sensitivity." He has achieved this with pools of water, bamboo enclosures, natural timber, shoji glass, limestone and lacquered paper panels. Additional design highlights include the Sky Bridge on the 49th floor, which crosses a 130-foot-high atrium; the hotel's Bedonia stone façade (see photo above) by one of Britain's hottest architect-designers, Thomas Heatherwick; and freestanding bathtubs with panoramic harbor or island views.

Polo isn't just for the cushy confines of Palm Beach and the Hamptons. In far-northern India they've been playing a more rough-and-tumble version of the sport, called "the ancestors' game", for hundreds of years. In September the annual Ladakh Festival Polo Cup will take place in the mountainous town of Leh, 11,500 feet above sea level. Against the majestic backdrop of the Himalayas, local civilian and Army teams "battle it out in a haphazard, no-rules display of sportsmanship," the Christian Science Monitor notes. Grueling games last for an hour, with one 10-minute break at halftime, and the condition of the players' horses often determines the outcome. The championship is sponsored by the State Tourism Office of the Indian government, and hundreds of villagers, city dwellers, and foreign tourists turn out to watch "at their own risk".

The luxury market in China is booming, so much so it's now the second largest in the world (behind only the United States) and growing 15% more every year. The shoppers in China can't seem to get enough designer labels and premium goods despite high luxury taxes and piracy driving prices up. Shanghai has been particularly indulgent, as have some smaller towns like Shenyang and Harbin, although you might not know it by walking through the mall or visiting a boutique as many high-end shoppers prefer to have the merchandise brought to them from the store. It's not unusual for a single customer to spend upwards of $129,000 in a single sitting.

Although the market is so good that many retailers can't afford not to be there, the Chinese definitely have their favorites and not all brands are faring equally. Among the most successful are Louis Vuitton, Gucci, Calvin Klein, and Cartier.

A year from now, we'll look back on the art market 2009 as that last slither though the gutter before picking itself back up in 2010. But, we're not there yet: 2009 is in the rearview mirror, so it will remain our baseline for the next 12 months. When looking at the top performers at auction last year, there's a pretty consistent story – revenue declines ranged from 55 percent to 77 percent relative to 2008. Top 10 mainstays – such as Pablo Picasso, Andy Warhol, Alberto Giacometti, Edgar Degas and Claude Monet – got thrashed. These conditions led to some changes, as well, with a Chinese artist making the top 10 for the first time. In fact, he pushed into the top three.

1. Pablo Picasso
Pablo Picasso is back on top, after giving up the #1 position in 2008. And, it took only $121 million in auction sales to get him there. From 1998 to 2008, total sales for Picasso gained 96 percent, before falling by 54 percent last year, with pricing off 15 percent. The number of sales pushing past the $1 million mark declined precipitously, from 39 in 2008 to only 15 last year, and his top sale was for "Mousquetaire a la pipe," which moved for $13 million on May 6, 2009, at Christie's. This year could be a bit tough for Picasso collectors, as Artprice believes certain paintings were still overpriced.

For years North America has dominated the world aviation market but recent figures show that Asia Pacific is now the world's largest passenger market in aviation. New figures from the International Air Transport Association show that while North America flew 638 million passengers in North America, the Asia Pacific market flew 647 million. As you might suspect much of that growth has come from China which is now the region's largest domestic market flying 1,400 aircraft. It is expected that this trend will continue as more people in the region take to the skies.

In a related story, a recent AFP report showed that more and more Chinese people are using online travel services to book holidays. Revenue from online flight, hotel and package tour bookings are up 27 percent from last year and climbing as China's expanding middle class becomes more interested in travel and are becoming more accustomed to online purchases and using credit cards.

For the opening of its newest boutique in Macau, one of the largest in the world, Louis Vuitton has unveiled an exclusive collection headlined by a bespoke Casino Trunk. The three-story space is part of the famed French luxury label's planned expansion across the Asia Pacific region. Available by special order only, the luxe Casino Trunk contains special drawers and compartments housing a roulette wheel, green baize game table cloths, playing cards, poker chips, gambling dice and a banker's briefcase. "The opening of this store and the investment it represents reflects Louis Vuitton's confidence in this market and the appreciation by the local customer of the quality and craftsmanship of Louis Vuitton's product range," declared Vuitton Chairman and CEO Yves Carcelle.

The top lot at Christie's Asian art auctions brought in a record $5.9 million in Hong Kong. A large abstract painting by Chu Teh-Chun, "Vertige Neigeux," surprised bidders and spectators alike, with an unidentified Asian private buyer ultimately winning in front of an audience of 400 people. Overall, the auction brought in $79 million.

Buyers from mainland China pushed prices higher at the Christie's sale, especially with local art collectors picking up artwork as a way to protect their wealth from inflation and a struggling U.S. dollar. Chu, Zao Wou-ki and Fu Baoshi are among the hottest artists on the market right now in Asia. A piece by Baoshi set a record during the day sale, moving for $7.8 million. One by Sanyu nearly tripled its presale estimate. According to Anthony Lin, an art consultant in Hong Kong, contemporary Chinese art is starting to recover.

On the first day of the five-day sale, Christie's also sold more than $5 million in wine.

[Photo courtesy of Christie's]

Europe – the same corner of Europe, actually – claims the first three spots in Mercer Consulting's annual Quality of Living Survey. Vienna, Austria and Zurich and Geneva in Switzerland lead the list, followed by Vancouver, Canada and Auckland, New Zealand in a tie for fourth.

Little has changed for the top half of the top 10. Last year, Zurich nabbed the top spot, and Vienna and Geneva shared the #2 spot. Vancouver is unchanged year-over-year, and Auckland's #5 finish last year is roughly the same as its tie for fourth in 2009.

Not only are the top places to live ostensibly enjoyable, you're more likely to be there for a while. Life expectancies in these cities start at 79 years. It's better than living a nice long life in a dump, I guess.

The United States doesn't appear until the bottom of the top 30, with Honolulu and San Francisco. From Asia, only Singapore picks up a spot in the world's 30 best places to live. South America and Africa are not represented at all. It's strange, I half-expected to see Mogadishu on this list.

Of the 215 places listed, Baghdad has the distinction of finishing last. Sometimes, common sense prevails.

When it comes to delicacies this rare soup is among the most coveted in Asia. Its appearance seems quite benign as the gelatinous mixture, a steamed bird's nest, rests in a light chicken broth but when you discover the true contents of this unique offering it might change your mind. The key ingredient is truly a bird's nest but not one made of twigs and leaves, the sparrow-sized swiftlet's nest is primarily composed of saliva. The complete structure is built within thirty-five days by the male swiftlet to accommodate one to two eggs and its shallow cup shape does not exceed the size of a human hand.

The nests are harvested three times a year and the swiftlets are typically given time to breed and raise their young in the nest before removal.

Chanel may have just pulled the plug (as we reported last month) on its Zaha Hadid-designed Mobile Art Pavilion, but Prada is going ahead with plans for an even more ambitious project. Despite the economy, the luxury Italian fashion house just began construction on the Prada Transformer, a tetrahedron-shaped "transformative building" designed by starchitect Rem Koolhaas (rendering above), on the grounds of Gyeonghui Palace in Seoul, Korea. Koolhaas, who won the Pritzker Prize in 2000 and also designed the Prada flagship store in Manhattan, describes the building as a "dynamic and living organism'' because it transforms itself into different structures to suit various events. The location of the project, the single largest communications platform for the Prada group worldwide in 2009, speaks to the importance of the Asian market in a depressed luxury goods environment.

Scheduled to open at the end of March, the Prada Transformer will stage a range of art, cinema, culture and fashion events though August. the 65-ft. high tetrahedron is composed of four different shapes, a hexagon, cross, rectangle and circle. "Once a month, cranes will lift and rotate the structure into a different facade and floor plate configuration," the Korea Times reports. "When rotated, each side will be the venue of a different cultural program." On the outside, the entire structure will be wrapped with an elastic translucent membrane. Prada partnered with LG Electronics (makers of the Prada cell phone) and the Hyundai Motor Company on the ambitious scheme, which if successful will probably travel to other cities as well.

In November, London-based auction house Christie's will hold their first wine auction in Asia since 2001, featuring a landmark collection of 140 years worth of Latour sourced directly from the Château cellars.

The first Château-sourced collection of the fabled Bordeaux ever to be sold in Asia will go on the block Nov. 29 in Hong Kong; the 150 Latour lots, including magnums and large format bottles from a wide range of vintages dating from 1865 - 2005, are expected to fetch over $1.5 million total.

One of the top prizes is a 1900 magnum estimated at $18,000 - $24,000. Christie's already has a strong showing in Hong Kong with art and antique auctions bringing in over $300 million in Spring 2008, the highest total ever achieved for an Asian season.

Wow, this story is hilarious. I love fruit but I'm not so sure I'm interested in trying Durian (a fruit growing ever more popular with Southeast Asians and Chinese) because not only does it cost upwards of $200 a piece but apparently it smells like gasoline. Or garbage. Or manure. Or stinky socks. Take your pick, none of the descriptors are good.

So why do people prize this fruit so much? I guess once you cut them open you can separate the stinky part from the edible part, which is reportedly very sweet, nutty, and almost custard-like, and it's quite tasty. $200 tasty.

The aptly named Remote Lands, Inc is now offering private jet journeys as a unique way to see the world. The first of these packages, called "Passionate Epicures and Insatiable Travelers," is available this year and will have room for a cozy 36 guests and is scheduled to travel to Thailand, Burma, Bhutan, India and China. Attractions include not only the locations themselves, but also best-selling authors, world-renowned chefs, and cultural experiences like attending a Thai wedding and visiting the home of a Bhutan dignitary.

Or if that sounds a little too generic for your taste, maybe a "bespoke travel package" is a better fit. Remote Lands will design an individualized Asian vacation just for you, basing it on your particular preferences and lifestyle, and offer choices including everything from bodyguards and massage therapists to audiences with Asian nobility.

It seems that we may have finally hit the price ceiling for expensive hotel suites. The highest priced hotel suite in Asia can be found at the Pingxi Royal Mansion just outside Beijing was advertised at 220,000 yuan ($28,100), which makes it even more expensive than the Bridge Suite at the Atlantis. Recently, though, the hotel dropped its price by 20% per night ($22,485) because of a lack of customers.

On second thought, we're not too worried about the possibility that this could indicate a drop in the demand for luxe suites, though. More likely than not, this is just a case of overpricing in the first place.