Latest News | Wine Beats Hermes Handbags, Whiskey in Luxury Investment with 13pc Annual Price Appreciation
Get latest articles and stories on Latest News at LatestLY. Wine ranks first in Knight Frank's luxury investment index of April-June quarter with 13 per cent annual appreciation and has beaten Hermes handbags and whisky that recorded negative price growth.
New Delhi, Sep 24 (PTI) Wine ranks first in Knight Frank's luxury investment index of April-June quarter with 13 per cent annual appreciation and has beaten Hermes handbags and whisky that recorded negative price growth.
In a statement, Knight Frank said that "wine has knocked Hermés handbags and whisky from their number one positions in the index in recent years, with prices of investment-grade wine up 13 per cent over 12 months to the end of June 2021."
The consultant released its Luxury Investment Index (Q2 2021).
Andrew Shirley, editor of Luxury Investment Index at Knight Frank, said, “Two assets that have been at the helm of the Knight Frank Luxury Investment Index in recent years – rare bottles of scotch and Hermés handbags – have relinquished their places at the top of the index, recording negative 12-month growth."
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Wine is the front-runner in the 12 months to the end of June 2021 with prices rising 13 per cent and 119 per cent over a 10-year period, he added.
"Wine is doing really well, not going crazy but growing nicely. There are no signs of over-exuberance," said Wine Owners Nick Martin who compiles the data for The Knight Frank Fine Wine Icons Index.
The consultant noted that one market that has been doing well this year is Bordeaux. Burgundy, on the other hand, is taking a bit of a breather.
Looking at the classic car data from HAGI, which provides the data for the index, it appears that the classic car market is in a good place with the value of a selection of the world's rarest and most collectible vehicles rising 4 per cent over the year to June 2021. Most interest is coming from experienced collectors and dealers who are prepared to pay top prices for the best cars, it added.
Along with wine and cars, watches make the top-3 podium for this installment of the index with Art Market Research's basket of collectible timepieces showing annual growth of 5 per cent, Knight Frank said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)