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Investing in wine is by no means a new phenomenon – many years before fine wine became truly ‘global’ in the mid-1990s, wily buyers would often buy more than they intended to drink, selling the excess at a later date to fund subsequent purchases.
In the 1990s, demand for the best wines from Bordeaux boomed as the ‘traditional’ market for these wines – namely Europe and North America – was joined by a new one in the Far East. Prices increased and though the cost of some top Bordeaux châteaux dropped in 1998 due to the Asian economic collapse, the general trend in wine prices has been up. While it is difficult to find totally accurate records and, therefore, data, it is fair to say that the prices for the very best wines have risen over the past 10 years or so, with quieter periods being more than compensated for by busy ones.
The correlation between the financial and fine wine markets is traditionally relatively small, but the more people invest in wine, the more this market will behave like an investment. As global demand and consumption of the world’s finest wines increases, opportunity exists to build a collection of wines to provide a financial return over the longer term.
Please contact our Fine Wine team to discuss wine investment further.