Investors make a toast as wine market recovers
Saturday 11 May 2013
The market for fine wine crashed last year, leaving many burnt fingers in what was the biggest downturn for what is always a speculative field.
But wine broker Premier Cru says the market has bottomed out, and should rise by 10 per cent over the rest of the year as Chinese buyers splash out, sending prices higher. Stacey Golding, co-founder of Premier Cru, said: “We believe there hasn’t been a better time to buy since 1998 or January 2009.
“Although we continue to see the prices of our most desired investment wines rise, there is a considerable opportunity for investors to profit in an ideal medium- to longer -term period and the sooner investors act, the more they can benefit from the turnaround”. Investment wines to watch are Château Pontet Canet and Château Lafite Rothschild, Premier said.
Large wine merchants are beginning to hold stock once more, and investors’ readiness to buy good-value stock has seen the market return to a more traditional level of stability. Golding added: “The fine wine market has consistently outperformed not only the gold index, which recently saw the worst two-day performance since 1983, but also the UK housing market.
“With the current economic crisis in Cyprus, investors are awakened to the fact money is no longer ‘safe as houses’. We predict a 10 per cent increase to December, and the market growing by 22 per cent by Christmas 2014.”
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Ashya King missing: Police hunt five-year-old boy with brain tumour snatched from Southampton hospital by his parents
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Papua New Guinea Mount Tavurvur volcano eruption sees international flights diverted
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...