Market Investment September 2012
Please be sure to read our recent newsletter which we have just sent out that highlights some important information on our wine storage and management service.
Please contact us if you have any questions. It was sent out last week.
Some positive news is that The London Vintners Exchange finished up for the month of August. This was the first month the market across the board finished higher for some months now. It is not a huge increase but it does show signs that investor confidence is possibly coming back into the market. The market has been quite fragile during the last few months which has been related to the Euro zone problems. Prices at the moment are very much discounted and some wines are trading at the levels that they were back in 2008.
The Vintners exchange top 500 finished almost 1% up across the market for the month.
Some more news on the market – At least ten foreign companies have been moving into India in talks with different wineries, are they gearing up for India to reduce their import taxes? Moet Chandon and Remy are working with some Indian wine makers.
Christie’s the Auctioneers started an online auction and they sold 820 thousand US Dollars, with a case of Chateau Lafite Rothschild 1982 selling for 42 thousand US Dollars. They also sold a case of Latour 1996 and Mouton 1982 for 14 thousand dollars.
They’re doing another one in October which will be interesting to compare prices.