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Interest in wine as an investment has never been greater, he said, as people look for investments that can outpace inflation. This was stated by the founder of the global wine trading company Bordeaux Index, Gary Boom, in an interview with the Financial Times. Bordeaux Index reported a 37 per cent increase in sales to £80 million (€94.7 million) in the first half of 2022. This is expected to significantly exceed the 2021 turnover of GBP 126 million (€149.15 million). This was already 47 per cent higher than the 2020 turnover. According to the company, the online trading platform LiveTrade contributed the most to the growth, as the value of trading increased by around 55 per cent.
While traditional assets such as stocks and gold did not bring in returns but losses in the first half of 2022, and bitcoin assets even fell by 60 per cent, prices in the wine market rose by 10 per cent in the same period. Some rare Burgundies recorded an average increase of 26 per cent, for individual wines even 50 per cent. They were the most important driver.
Matthew O'Connell, managing director of LiveTrade, said in a statement: "We have seen a huge increase in interest in investing in wine because wine has proven over time that it is very inflation-proof." There are more luxury consumers than ever who want to buy and invest. In addition, he said, supply is finite, and "wine is getting better with time."
(al / source: drinksbusiness; photo: 123rf)
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