Wine Retirement Fund
Saturday, November 17, 2007
James Miles, founder of the London International Vintners Exchange (www.liv-ex.com), said its benchmark index, the Liv-ex 100, which monitors the most actively traded fine wines, has risen by 41 per cent this year.
Bonhams an auctioneer is selling historic stock from the Imperial Russian winery at Massandra on November 28 in New Bond Street, London.
Another sale from the same source - including vintages that survived the communist revolution and Nazi invasion - will follow next month in San Francisco.
According to James Miles, the reason for the increased in commercial activity and in prices of fine wine is that, fine wine has outperformed most equities and commodities in the past three years.
He also adds that the rich are getting richer, and wine investment has become a lot more transparent, which has led to an increased level of confidence and has brought new money into the market.
Read the full story here.
