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WineCap research details shifting investor motivations

According to data from surveys of wealth managers conducted by the platform between 2023 and 2026, fine wine is increasingly being viewed as a strategic, portfolio-oriented asset, rather than a ‘passion collectible’.

Four years ago, environmental sustainability was seen as the key reason investors were allocating to fine wine, with 55% of wealth managers seeing it as the primary motivation, this has now fallen to 50% while stability dominates, with mentions rising from 54% to 70% between 2023 and 2026.

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WineCap said that this reflects a broader shift in priorities, with recent macroeconomic uncertainties causing investors to place greater value on resilience, predictability and capital preservation.

Since 2023, mainstream markets have experienced persistent inflation, rising interest rates, geopolitical instability and elevated volatility across both equities and fixed income markets.

This has been exacerbated by challenges to traditional diversification strategies, especially in cases where bonds and equities moved lower at the same time as investors were feeling the impact of volatility.

Against this backdrop, fine wine’s appeal appears to be its ‘slower moving’ nature.

Pricing in the secondary wine market tends to show a lower level of volatility due to finite supply, longer holding periods and global base of collectors – something that currently appeals to investors.

Additionally, the research found that stability has consistently ranked above strong returns for those investing in fine wine, who seem to value predictability, wealth preservation and long-term portfolio balance.

WineCap noted that “the appeal of fine wine is not necessarily that it delivers the highest returns, but that it may provide differentiated behaviour relative to traditional markets”.

It added that this is also correlated with an “increasingly mature mindset within the fine wine market”.

Historically, fine wine investment was motivated by ‘passion’ and closely associated with collectors and enthusiasts. However, by 2025, respondents were more likely to cite the market’s low correlation to mainstream assets as a motivation for investment.

This trend has been aided by the increasing transparency and available of data on the market, which has been improving over the past 10 years.

The full report is available here.

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