Vintage gains for fine wine investors
Vintage gains for fine wine investors
Sep 12, 2010 6
Fine wines are becoming a popular alternative investment, especially as Hong Kong turns into Asia's wine hub.
Gains from top French vintages have outpaced those from equities, gold and property, making them the best global investment of the decade.
"Behind the price surge is limited supply and an influx of new-money buyers from China," said Agnes Hon Hing-kie, director of private equity firm Regal Pacific Group.
The average price of a fine Bordeaux red wine jumped around 187 percent in the past five years, according to the Liv-ex Fine Wine Investable, an index tracking prices of notable red wines from 24 leading chateaux. The price of the most popular labels, such as Lafite Rothschild, surged almost 10-fold.
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