Wine Expert

There Has Never Been A Better Time To Invest In Fine Wines

24
Feb0

The market for wine in a strange one. It is essentially a luxury product and yet millions of bottles are produced each year. A wine might be worth than one 10 years older than it and the price can come down how one person thinks it taste. One thing is certain though, there is a lot of money to be made from wine and now is a better time than ever to invest.

The prices of fine wines has been on the increase for the last couple of decades. As wineries continue to perfect their production methods and develop better storage facilities, the prices people pay for fine wines has crept up. Sotheby’s wine expert Jamie Richie even said “Prices had risen to nearly unsustainable levels last spring”.Having said this, now that we find ourselves in a very weak economy, these fine wine prices are starting to come down to realistic levels. This year in Jan there was a drop in prices of around 1.2% according to Liv-Ex 100, the tracking index for the top 100 collectable wines. This is trend that experts expect to continue for while and can in fact be seen throughout the wine sector, from wine production to the sales of general shot glasses.

A bottle of 1978 Montrachet Domaine Romanee-Conti recently sold at auction in Chicago for just under $4,000. The price of $23,929 was only a few years back at Sotherby’s for the same bottle of wine. This sudden drop basically means that if you’ve ever had an urge to start collection yourself, either as an investment or just a hobby, the best deals are just around the corner.Many professionals in the area think that the market won’t see and upward rise until at least the end of this year. Tableware and drinking accessories are expected to improve as well.

Joss Fowler, a wine investment expert from Berry Bros & Rudd has some tips for getting the best return. A almost certain bet is going for a Red Bordeaux, he says, because aging this one badly is no easy task for anyone. Also, play it safe and get the best wines your money can buy from the best vintages. Stick to this adage and you’ll be filling up your wine racks sooner than you think.