Caviar & Cashmere

Caitlyn Chase

Don't Whine- Invest in Wine

September 14, 2010 blogger
London's most famous wine store, Berry Bros. & Rudd, had one of the best weeks in it's very long 310-year history. What is their secret? At a time when global markets are tumbling quickly, investors are looking to put their money into save havens-- and for many wise investors, that means vintage wines. In fact, while BBR has sold around $112 million of wine since April, it saw business surge last week by more than $9 million--a 20% jump over the same week last year.
Local merchants are the only ones seeing their wines fly off the shelves. Auction houses Christie's and Sotheby's also saw strong sales last week. Christie's sold $2.5 million worth of Claret and Burgundy in just two days, with the 2000 vintage of Chateau Lafite-Roshchild fetching the equivalent of $1,400 a bottle.
Moreover, according to London's Telegraph, "Live-ex, a research company that runs a fine-wine index, estimates that prices of the best vintages have increased by 50% since the start of last year – in sharp contrast to the stock market, where prices have fallen by 15%."

So when all else fails in this market, you don't have to whine, just go buy wine!
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