Photo credit: Saza Coffee
The Lamastus family has done it again! Just weeks after breaking the record for the highest price ever paid for a coffee at the Best of Panama auction, a lot of their Elida Geisha Honey Aguacatillo sold for a shocking $13,518/kg at the Lamastus Estate private auction on September 27. The Cupping Post, a small independent coffee roaster from South Korea, won the bid for the world’s most expensive coffee, making it clear that East Asian buyers are driving the coffee premiumisation trend.
“Aguacatillo is, without a doubt, the most remarkable coffee I’ve ever tasted in my life. It embodies the pinnacle of high-end coffee. If I were to give a coffee a perfect score of 100, it would undoubtedly be for this one,” said Tommy Lee of Cupping Post in Korea.
It should come as no surprise that a representative from one of the world’s fastest-growing coffee markets would win the top lot. South Korea now has over 100,000 coffee shops, earning ₩ 15.5 trillion ($11.2 billion) in sales in 2023. It is one of the few countries with a dedicated SCA diploma program that has certified around 400 Authorized SCA Trainers (ASTs).
However, South Korea is not the only coffee-obsessed country in the region. China, Japan, and Taiwan all have rapidly growing coffee sectors with large populations of upper and middle-class buyers willing to learn, experiment, and spend good money on high-quality coffee. Unlike North American and European markets, East Asian countries consistently seek out the highest-scoring and most expensive coffees at auctions.
Data from the online coffee auction site M-Cultivo shows that East Asian countries were the highest bidders and winners in the last seven (non-COE) auctions held in 2024. China came in at number one, with the most bids (82) and wins (70). Japan bid on 57 specialty coffee lots and won 55, while South Korea (51 bids, 45 wins) and Taiwan (50 bids, 46 wins) battled for third and fourth place. Coffee auctions in Central America now cater to Asian buyers by tailoring their start times to coincide with business hours in China and Japan.
Premiumisation occurs when rarity and exclusivity combine with superior quality to drive up an item's appeal and price. In many East Asian countries, there is a strong tradition of giving expensive gifts and a cultural appreciation for things perceived to have high value.
In an interview with Coffee Intelligence, Chengcheng Su, a consultant for the Alliance for Coffee Excellence and Cup of Excellence in East Asia, says, “What is rare is precious—this mentality is shared among many consumers in China, Japan, and South Korea. They buy and consume what they believe offers value, and believe that the price reflects quality, and are willing to pay higher prices for what is more valuable.”
East Asian countries also have long-standing tea drinking traditions that, like wine, emphasize unique flavors that reflect a particular terroir. STiR recently reported on a study demonstrating that Chinese consumers are willing to pay twice or even three times more for a premium tea than North Americans. Especially when giving it as a gift.
Saza Coffee, the Japanese company that won the top Lamastus Geishas at the Best of Panama auction, takes its name from the “Saza” method of drinking tea in the Omotesenke tea ceremony, which translates to “sit down and enjoy tea.” Saza’s founder, Chairman Suzuki, wanted to produce coffee that reflects the same zen principles found in Japanese tea-drinking traditions.
Whether premiumisation is relatable for the average coffee drinker or not, it does bring attention to producers who put in extra effort and care to create remarkable coffees that celebrate unique origins. As coffee becomes increasingly popular in China, Japan, and South Korea, premiumisation introduces new consumers to the critical topics of pricing, sustainability, innovation, and quality, sparking conversations that benefit the entire industry.