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Vino Bays Assets Press Articles
We at VBA are at the heart beat of the Fine Wine Market. As with any type of investment class, access to the right information at the right time is crucial. We want to share some of that information and education with you in order to keep you ahead of the pack and up to date with all the developments within the Fine Wine Market.
Please feel free to go through all the latest press articles released on the Fine Wine Market here, Should you have any questions about anything written please don't hesitate to contact us.
FT - Old certainties are under threat
2013-10-21
Old certainties are under threat
The shift in global economic power towards Asia isintroducing new tastes into the fine
wine market but bordeaux remains dominant, says Peggy Hollinger - Financial Times.
For most people, austerity has meant higher taxes, scarcer public services and eroding
living standards. For inves-tors in wine, however, the pressure on governments to show
greater fiscal probity has brought new opportunities as some of the world’s most intriguing wine cellars have
opened up over the past year. In January, the French city of Dijon sold off 3,500 bottles of prized burgun-
dies – roughly half its stock – to fund municipal services. In March, the UK government sold from its vast fine wine collection for the first time, putting 54 bottles of the best up for sale, including a 1961 Châ-
teau Latour, to raise £74,000. The French presidency put 1,200 bottles of its finest vintages on the
block at the end of May. Comprising one-tenth of the Elysée palace’s cellar, the auction raised close to $1m; the most expensive bottle, a 1990 Château Petrus, went for €7,625. All three auctions raised far more
than expected.
These were rare oppor- tunities in what recently has been a lacklustre investment climate.
The bidding also reflected investors’ growing appetite for alternatives to the traditional bordeaux, whose prices
had been driven to heady levels by spectacular harvests and a surge of interest from east Asia. Between 2009
and mid-2011, bordeaux prices surged some 80 per cent, as buyers in China and beyond fought to own the best
vintages from the top châteaux.
Ever since, burgundies and champagnes
have drawn a growing number of old- world investors. Since Asian interest began to slow
from 2011, sufficient demand has remained for these wines to help them
significantly outperform bordeaux, according to Liv-ex, the London-based
exchange for investment-grade wine. “Investing in the wine market is
becoming less about bordeaux, as peo- ple thought it was becoming too expensive,” says Justin Gibbs, co-
founder of Liv-ex. “People are rotating their focus.” Cult wines such as California’s
Screaming Eagle and Italy’s super Tuscans have done well, helped not just by their quality but also by their
small output, which makes them more attractive to some investors. There has even been some noise about cer-
tain wines from Lebanon or Israel. But it will be decades before these newcomers can replicate the consist-
ency of the fine French wines, says Miles Davis.
Read the full story - http://media.ft.com/cms/2bb631ee-36e2-11e3-aaf1-00144feab7de.pdf
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