"Fine wines a top investment" - GEORGIA LONEY, The West Australian August 16, 2009
Those buying dusty bottles of cabernet sauvignon from the South-West could be making a better investment than putting their hard-earned money into the sharemarket, with fine wines appreciating faster than many shares.
Wine auctioneers Langton's reckon Australian fine wine values have increased almost 64 per cent over the past two years while the stockmarket has fallen about 39 per cent. Rare WA wine, such as an imperial (six litres) of 1997 Howard Park cabernet, can fetch as much at $6000 at auction. Langton's general manager Stewart Langton said fine wine investors now realised Australian wines held their own against fine wine from Burgundy or Bordeaux. "For outstanding vintages we're getting close to $200 a bottle, which is unknown for wine which isn't a statement wine, like a very old bottle of Grange." Mr Langton said selected vintages from Howard Park represented sound investments.
"The simple facts are that the best of anything in the world will always have a buyer," he said. "There's no point buying a $6 cleanskin and expect it to improve in value, but if you buy quality wine from the best wineries with established reputations, there will always be growth."
Australia's largest wine storage provider, Wine Ark, released the list of the 50 most collected wines from a survey out of 3 million bottles of wine in cellars across the Australia. Howard Park's flagship Riesling is Australia's 4th most collected Riesling, and Howard Park's 'Abercrombie' Cabernet Sauvignon is in the top 30 of Australia's most collected wines for the last 3 years running. 14 Oct 2009