Investments on a wine field
the Price index on the wines most expensive and claimed in the world has fallen already more than to 20 % in comparison with peak of last year. To panic about it early, the wine adviser of British company Laithwaites considers Alvina Harchenko: during crisis collectors all over the world, and especially in Asia, start to look more soberly at investments into wine, but hardly them will refuse.
falling Liv - ex Fine Wine 100 Index many treat unequivocally: in the world, especially in Asia, thirst of expensive wine is satisfied. Among popular explanations proceeding world financial crisis and delay of growth of economy of China which for the last couple of years became hope and a support bordoskih wine makers. Crisis of the countries of an eurozone, earthquake and a tsunami in Japan (traditionally important market for collection wines) too can be included in the list of factors which contributed in falling of the prices for wines of investment quality. But these reasons Not unique, and even not the main things.
it is possible, where falling of quality of wines which could force to fork up collectors is more important. Partly it is possible to blame the overestimated expectations for it after achievements of wines of crops of recent years. 2009 - j has been declared by influential American wine critic Robert Parker " vintazhem centuries " on wines of 2010 positive responses too sufficed. Sufficed and wishing to struggle for eminent bottles that inflated the prices even more. On such background 2011 has appeared unsightly.
in the market nothing shows potential of quality of wines and their success so visually, as sales en primeur the specific French invention. It is an annual meeting of manufacturers, negotiators, bajerov and journalists. In these meetings in Bordeaux there is an element of trade in air: on en primeur fault which razlitija on bottles to wait yet one year are on sale. To estimate samples of the wine which are still being in butts, all the same what to guess in wrinkled faces of babies of line of the future movie stars. But the certain advantage pays off wholly. More correctly, paid off. As Chris Smith, the investment manager of company The Wine Investment Fund has told, last year`s campaign en primeur was " the most failure in the history also has negatively affected the prices in the global wine market ".
Vinotorgovaja company Farr Vintners having representations in London and Hong Kong, this year has sold to the Asian clients of wines en primeur approximately on £ 3 million on £ 19 million is less, than two years ago. In 2010 company Berry Bros. And Rudd the wine supplier of a royal court yard and the oldest vinotorgovaja the company of Britain has concluded transactions on sale of wines of a crop of 2009 on £ 105 million last year wines 2010 - go a vintage have brought the companies £ 67 million this year Berry Bros. And Rudd does not count more than on £ 15 million from wines of a crop of 2011. " on my eyes seven stunned negotiators have received refusals under transactions from the Chinese partners. Chineses have used the right not to pay for wine within six months after the conclusion of the transaction also have simply cancelled all order, having decided that cannot sell wine to clients. Have preferred not to risk " director Berry Bros tells. And Rudd Alun Griffits about impressions of a trip to Bordeaux on the present auctions en primeur.
the Second reason of falling of the prices is connected not with quality of a product, and with a market status. " this bubble should burst sooner or later. That occurs, normal correction on peregretom the market " considers Griffits. With it Chris Smith agrees: " Returning of things in a normal channel from the middle of 2011 becomes even more obvious, if you look at what has gone down in price most strongly It just those wines, the prices on which have most of all grown before falling ".
In changes in the Asian wine market there is also a psychological aspect. Passion with which last years local collectors bought the most expensive wines, has generated, in - the first, the sensation that this agiotage will be eternal, and in - the second, representation about the one who buys these wines. In jokes going in Europe about rich men from Shanghai, diluting Bordeaux of the cook - koloj, the relation to " is partly reflected; to new Chineses ". But the Chinese clients have reacted to condescension of Europeans quickly and is practical. According to the director of company Berry Bros. And Rudd which has offices in Hong Kong and Tokyo, interest to wine education in Asia and, in particular, China is huge. " the more clients learn about wine, the understand more that the wild prices for wines 2009 - go a vintage were speculative often " tells Alun Griffits. As he said, now among the Chinese buyers grow antibordoskie moods: people feel deceived and are angry at the greedy Frenchmen, aiming to swindle the client.
fortunately, to the Chineses offended to Bordeaux is where to move. Local collectors start to look narrowly at the best wines of Italy, kitchen and which culture in China in a fashion. Besides, and in France to Bordeaux there are other fish in the sea. Among the French regions which interest China, and #150 more and more; Burgundy. Except more adequate prices the Burgundian involves Chineses with flavouring characteristics. " to tell the truth, Burgundy approaches them more than often tannin wines of Bordeaux, Chineses do not love bitterness " confirms Griffits.
As he said, Berry Bros. And Rudd will continue work in Asia and thinks of representation opening in China which economy grows though and not so roughly, as before, but still very quickly. By estimations Goldman Sachs, each 11,5 weeks of growth of gross national product of the country would suffice on creation of economy of Greece. Chris Smith speaks about other reasons for optimism of wine dealers and manufacturers. " currencies of the Asian countries will grow, most likely, that will positively be reflected in the prices of wines. The inflation provoked by injection of money in a world financial system and very low cost of credits becomes other factor. Inflation and fears of its ward conduct to an investment of money in material actives, in particular in wine " he considers.
with long-term prospect except inflation and disturbing mood of investors the wine should be helped by emerging markets Brazil, Russia and especially perspective India which has doubled wine import in the last two days. If India agrees with Eurocommission till the end of 2012 and taxes to imported alcohol will be lowered, it is possible to assume that this growth becomes even faster. As well as Chineses, Hindus do not love tannin wines these are disturbing news to Bordeaux. But good for Burgundy and, maybe, manufacturers of the cook - koly.