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Many people don’t just like to drink wine, they like to collect it. This investment is a big one, and lately, has really surged making investors quite happy.
Fine wine is not the best-performing collectible! Wealthy collectors are happy that the price on fine wines have increased 25 percent over the last 12 months. This is great news for investors who already have a nice collection of the best wines in the world.
What’s even more surprising is that The Knight Frank Luxury Investment Index has reported that fine wine investment has actually superseded classic car as the top collectible. So, while we used to think the wealthiest people would invest in classic cars, that’s not changing over to the finest wines.
What are the best wines to invest in right now?
- Northern Italian wines
In the last five years, these wines have increased in worth by 61 percent! Yes, that means anyone who purchased these bottles five years ago have made over 61 percent more off their investment.
Wines and Other Investments
According to Knight Frank, wine is in the lead of the most lucrative investment. Art is second, but not performing as well as the wine. Other contenders are watches, jewelry, and coins. Unfortunately classic cars are trailing nowadays along with stamps, colored diamonds, and antique furniture.
The Cause of the Surge
The Chinese are recovering after the financial crisis. They have a stronger economy and buying of wines has increased significantly over the years. They weren’t as interested in wines in the past, but now, they have developed a taste for it. Not only in drinking, but in the money they can produce. The Chinese have purchased more than 100 chateaux in France’s Bordeaux region.
According to the Knight Frank report, “After the crisis, the Chinese buyers were buying high-value wines not because they liked them, but because they perceived those wines to be the ones to buy. We saw the bubble pop. Now the Chinese win buyers are more connoisseurs.”
What’s Coming Up
While wine is in first place right now, it won’t be much of a surprise if art speeds to the top of the list as the best performing investment. For those who are into collecting, grabbing bottles of wines and then the best art in the world could end up being a great reward.