China’s rebound makes wine best performing collectible

Fine wine has surpassed classic cars, art and jewellery to become the world’s best performing collectible, with values soaring 25 percent over the past 12 months, as buying picks up among wealthy Chinese.

According to the latest report by The Knight Frank Luxury Investment Index that tracks the price growth in the major categories of collectibles, collectible wine prices have increased 25% over the past year, and are up by 61% over the past five years, ahead of classic cars, art, coins, stamps, jewellery, watches, coloured diamonds, Chinese ceramics and antique furniture.

The jump seen in the wine category came at a time when the Chinese economy has gradually come to stabilise, following its bullish boom that was stopped when the country launched a sweeping anti-corruption drive that dampened fine wine purchases.

Buyers from the US, Europe and other parts of Asia also contributed to the sector’s impressive growth, the report said, with Bordeaux, Burgundy and northern Italian wines being the most sought-after items, reported CNBC, citing the report.

Compared with previous years, Chinese collectors have become more sophisticated, said Andrew Shirley, who compiled the report for Knight Frank.

“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,” he explained, “We saw that bubble pop. Now the Chinese wine buyers are more connoisseurs.”

Sotheby’s led the global wine auction market in 2016, with total sales up 22% over 2015.

The Chicago-based Hart Davis Hart, the biggest fine wine auctioneer in the US, said it has sold every single one of the 8,322 lots that have come up for sale so far this year, for a total of US$24 million. In addition, HDH has made a further US$3.5m through its online wine sales.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.

Subscribe to our newsletters

On-Trade Wine Sales Manager

Madeera Wines Ltd.
London, UK

Head of Sales & Marketing

IWSC & Club Oenologique
London

Buyer - Investment Grade Whisky

Dalkeith Brokerage
London, UK

Commercial Analyst

Australian Vintage
Croydon, UK

Supply Chain Assistant (Maternity Cover)

Speciality Drinks
Elixir House, Whitby Avenue, Park Royal, NW10 7SF

National Account Manager : Multiple On Trade Accounts

Speciality Brands
Whitby Avenue, London NW10 7SF, UK

Sales Director – Europe

Jackson Family Wines
Europe (UK, Netherlands, Belgium, Germany, Switzerland)

Events Marketing Coordinator

Speciality Drinks
Park Royal, London NW10, UK

Account Manager

MMI Dubai
Dubai - United Arab Emirates

Cono Sur Masterclass

London,United Kingdom
14th Oct 2019

The Wine Show Chelsea 2019

London,United Kingdom
18th Oct 2019

WSTA Brexit Preparedness Seminar

London,United Kingdom
18th Oct 2019
Click to view more

The Global Malbec Masters 2019

Deadline : 25th October 2019

The Global Sauvignon Blanc Masters 2019

Deadline : 25th October 2019

Click to view more

The Global Cider Masters 2019

View Results

The Prosecco Masters 2019

View Results

Click to view more