Wine merchants, auction houses and investors are generally bullish about the prospects for growth in the fine wine market over the next year. In a recent survey, which garnered the opinions of over 120 respondents, a majority believed that the wine market would grow in 2012 with only 12% expecting it to fall.
The majority also expressed a belief that Bordeaux had harmed its image with consumers over the last few years and significant price reductions would have to be forthcoming in order for the region to repair the damage done. Most European respondents believed a 20% fall was needed whereas most Asians surveyed thought 10% would be adequate.
Despite a poor en primeur campaign in 2011, it is expected it will be the top Bordeaux estates that will be taking the lion’s share of the growth for 2012. There is a strong belief that some sectors of the market have been oversold and there should, therefore, be some promising opportunities available to investors over the coming year.
It is estimated that the wine investment market is worth a total of £2.5 billion a year.