The wine investment market is in particularly good health right now with double digit growth predicted for the year ahead and exceptional Parker scores being recorded for the latest vintage.
Robert Parker, the world’s leading authority on fine wine, recently released his ratings for the Bordeaux 2010 vintage, which was confirmed as outstanding, with 10 wines getting a perfect 100 score. Nearly half of all the perfect scores given during the 35 years of the ratings have come during the 2009 and 2010 vintages reviewed in the past two years.
The results and their effect on the fine wine investment market have proven popular with the business press, with broadcaster CNBC keen to sit down with Peter Shakeshaft, chairman of Vin-X, the UK’s fastest growing fine wine specialist, and discuss what the implications would be hoping to make a buck out of a bottle.
This morning, Peter appeared live on their Squawk Box Europe show – which runs in advance of the opening of the daily European markets – to discuss the results in more detail with anchors Geoff Cutmore and Karen Tso.
As well as specifically discussing the impact of the Parker scores on the market and picking out some particularly promising Bordeaux wine investment options – namely the perfect scoring Pontet Canet – Peter also analysed wine’s potential as a long-term alternative investment option.
The Squawk Box team were surprised to learn that over the Queen’s 60 year reign, wine has provided the best return of any alternative investment of more than 11 per cent. This is more than many other asset classes including art, classic cars, silver and even gold and is certainly something for investors to raise their glasses to.
Peter also shed some light on the growing demand for fine wine in emerging markets including China, Brazil and Russia, with the latter seeing particularly strong growth for fine wine, especially amongst female investors.
Whilst the Parker scores provided a clear indication of the direction the market is taking right now it’s safe to say that the progress of the fine wine market will be of interest to both investors and the press in general for many years to come and we look forward to Peter discussing on our TVs and radios again in the near future.