2009 has been hailed as an extraordinary vintage throughout
France, reflected in Burgundy prices that increased 20% on last
year at the 149th Hospices de Beaune auction. But following the
economic downturn last year, does a good vintage still translate
into a good investment?
This was the focus of a recent news article on CNBC, during
which Corsham Cellars was featured. Viewers were able to see inside
the facility which was praised as an optimal cellaring environment.
Experts such as Jancis Robinson MW, Serena Sutcliffe of Sotheby's
and Miles Davis of Wine Asset Managers, contributed.
Davis, a partner of Wine Asset Managers, a specialist manager of
funds invested in fine wine, described the impact of the last 12
months. Their asset value plummeted by 17% in the months following
the Lehman Brothers crash. However, over the next 6 months, this
levelled out, and equilibrium was regained. And since then, asset
value has risen about 6%, so the future looks bright.
Thanks to the surge of interest from the Far East, this upward
trend is likely to continue for the foreseeable future, with
Chateau Lafite Rothschild still the investors' first choice. Davis
advises that any potential investors should go to a professional
asset manager. The prominent Liv-Ex exchange, an electronic
marketplace for trading fine wine, he said, has brought a 'whole
new angle' to wine investment.
With wine being hailed elsewhere as 'the investment of the
decade', faring better than art, classic cars, gold and property,
it seems 2008 is likely to be written off as a minor anomaly in the
continued success story of fine wine investment.
Watch the CNBC news story featuring Corsham Cellars here http://www.cnbc.com/id/33067078