All About Wine And Its Goodness!

The wine market is a funny thing. It is essentially a luxury product and yet millions of bottles are produced each year.A few people’s personal taste can mean life or death for a wine and they can flow in and out of popularity almost weekly. There is one thing that is certain though and that there is a lot of money floating around in this domain, and there has never been a better time to grab a share.

The costs of high class wines have been rising steadily for a good few years now. As better storage facilities and more advanced manufacturing methods produce higher quality wines, so too does the price people are willing to pay for them go up.Sotherby’s Jame Richie who works as the top wine professional there actually said “Prices had risen to nearly unsustainable levels last spring”.  However, now that the recession is upon us, the prices of these exclusive wines are coming within reaching distance. In Jan (2009) there was a decline 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 standard shot glasses.

A bottle of Montrachet Domaine Romanee-Conti (1978) very recently got picked up at a Chicago auction for $3,500. That same bottle went up for sale at Sotheby’s a couple of years back for $23,929. This sharp decline means that if you’ve ever wanted to start your own wine collection, either for your own consumption or as an investment, it will soon be the right time.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 from Berry Bros and Rudd is a wine investment guru and he has some pearls of wisdom to share. He recommends that a very good bet is, and always has been, a Red Bordeaux as they age beautifully. Also, always go for the best vintage and don’t scrimp on cost, get the best you can possibly. Stay true to this rule and you’ll be filling up your wine racks before too long.

Tags: auction, drink, investing, money, prices, storage, wine

This entry was posted on Sunday, March 28th, 2010 at 12:06 pm and is filed under food and wine. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.