Fine wine prices up for first time in six months
There's been a "definite lightening of the mood" as the Liv-ex Fine Wine 100 index has posted an increase of 3.97 points, or 1.39%, in January, after six months of decline.
There's been a "definite lightening of the mood" as the Liv-ex Fine Wine 100 index has posted an increase of 3.97 points, or 1.39%, in January, after six months of decline.
The index, which benchmarks the 100 most sought-after wines on the market, rose 290.3 points last month.
Liv-ex director Justin Gibbs said it was "welcome news". "While a single month's data does not confirm a change in trend, the rise in prices combined with the uptick in transaction volumes suggests a definite lightening of the mood."
The second half of 2011 saw a price correction from top-end Bordeaux due to a decrease in demand, as first growth prices recorded a heavy loss and the index fell by 20% by December 31.
Gibbs said he would expect the "bullish sentiment to return", if the market holds this level before the Bordeaux 2011 vintage is released, and if prices are "sensible".
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