Bottle of South African Wine Earns $82,000 at Charity Auction

A bottle of South African wine fetched 1.3 million rand ($82,000) at the AfrAsia Bank Cape Wine auction as a 42 percent jump in prices saw total proceeds from the sale double from two years earlier.

Sello Rasethaba, a South African businessman, bought the bottle of 2014 Touch Warwick Cabernet Sauvignon, produced at the Warwick estate near Stellenbosch, the organizers said in a statement Tuesday. The latest edition of the annual charity auction was held Feb. 13 at the Klein Constantia wine estate, about 20 kilometers (12 miles) from central Cape Town. It raised 15 million rand, which will be used to promote education and skills training in the Cape winelands.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE