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Increasing concern about the apparent economic state of many countries and the inflation they are experiencing has led to a surge in the prices of fine and rare wines as investors flock to its capabilities as an inflation hedger.
The Liv-ex Fine Wine 100 Index is the industry-leading benchmark for monitoring fine wine prices and has been around since 2000. The Liv-ex index for the fine wine market shows wine investment has remained remarkably steady in the current global state, where other assets may have experienced high fluctuations. The Liv-ex index itself consists of several major wine indices, including:
Overall, the wine market has faced an average annual growth rate of one percent. The most outstanding performers in terms of regions have been Champagne and Burgundy with an average annual growth rate of 31% and 25% respectively. Prompted by anxieties over insufficient supply chain efforts, Champagne from the incredible 2008 vintage has been particularly interesting for consumers and investors.
There is no such thing as one particular type of wine investor, as individuals tend to rely on a variety of heuristics and other factors to determine which wine is best suited. However, regional patterns exist and can be pointed out, as in southeast Asia for example the demand for high-end branded Burgundy wines was high last year. During the same time period, Champagne had seen a surge in the UK and US. What can be recognized as well is that generally, new money is flowing into the wine investment industry. Of course, some of this is due to worries about inflation, as we mentioned before. However, there have also been other more local factors like wine shortages due to frost, bad crops, or supply chain problems.
Where there’s money to be made, you can bet there are also scams. And wine investment has its share. For example, auction houses selling fake trophy wines, which seems to happen more in the USA. There has been some talk of using Non-Fungible Tokens (NFT) in the wine investment market. Australian producer Penfold ventured into the NFT marketplace when they partnered with BlockBar to launch a limited edition NFT tied to their rare Magill Cellar 3 barrel of wine which converted to 300 bottles that the NFT could be redeemed against. It was a spectacular success and sold out in twelve seconds! The producer noted that 80% of the sales were to 18 to 35-year-olds. While the collaboration with BlockBar exemplifies a success story of tying digital assets to real goods, there is also a large potential for scammers to abuse the lack of regulation for blockchain applications.
Fine wine has historically been a dependable investment option for many individuals and has proved to perform well in shaky and unstable economic times. Considering, the global increase in demand for wine, especially in regions such as Southeast Asia, there are no reasonable factors indicating that this common trend will change in the near future. Inflation and other factors affecting the economic state that is hence driving wine investment growth will continue to be apparent. In order to enable everyone to participate in the investment potential that fine wines from all over the world can offer, Konvi has partnered up with one of the world's leading wine investment companies, the OENO group. Interested in fine wine investments? Visit our latest investment Project here.