Fine wine prices in retreat, says Bordeaux Index
Fine wine prices in retreat, says Bordeaux Index
Oct 27, 2011 6
(Harpers) - Fine wine prices retreated 7.5% in the third quarter of the year, pointing to a "market correction" according to Bordeaux Index.
The London fine wine merchant is advising investors that even though there's not an immediate likelihood of a strong rebound in prices - it will come back round.
Among the biggest victims of the slumping market have been many of the prestigious First Growth wines from ‘blue chip' vintages that have shed up to a third of their price - along with selected 2008 wines that were inflated during a series of well-publicized auctions last November.
Founder and managing director, Gary Boom, said: "There's definitely a market correction going on - the numbers don't lie.
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