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It’s a pretty strange business, the wine game. It is essentially a luxury product and yet millions of bottles are produced each year.  A wine might be worth than one 10 years older than it and the price can come down how one person thinks it taste. There is one thing that is certain though and that there is a lot of money floating around in this domain, and there has never been a better time to grab a share.

Fine wine prices have been rocketing upwards for many years now. As wineries continue to perfect their production methods and develop better storage facilities, the prices people pay for fine wines has crept up.Jamie Richie, Sotherby’s resident fine wine expert stated that “Prices had risen to nearly unsustainable levels last spring”.Having said this, now that we find ourselves in a very weak economy, these fine wine prices are starting to come down to realistic levels. 2009′s January figures showed a decrease in prices of close to 1.2 percent according to Liv-Ex 100, the index that tracks the top 100 collectable wines.  This is trend that experts expect to continue for while and can in fact be seen throughout the wine sector, from wine production to the sales of standard shot glasses.

A bottle of Montrachet Domaine Romanee-Conti (1978) very recently got picked up at a Chicago auction for $3,500. That very same bottle sold at a Sotheby’s auction a few years ago for $23,929. This massive decrease in costs is allowing lots of people to pick up some great wines for their own personal collections or for investment, for only a fraction of previous prices.The lowest point in that the market will face is predicted to be somewhere towards the end of the year. It should then be able to start gaining some speed again. Tableware and drinking accessories are expected to improve as well.

Wine investment expert, Joss Fowler has some words of wisdom for doing well. A Red Bordeaux is a pretty sound bet according to him, mainly because it very rarely ages badly. Also, always go for the best vintage and don’t scrimp on cost, get the best you can possibly. Stick to this adage and you’ll be filling up your wine racks sooner than you think.

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It’s a pretty strange business, the wine game. It is essentially a luxury product and yet millions of bottles are produced each year.  A wine might be worth than one 10 years older than it and the price can come down how one person thinks it taste. However, one thing will always remain the same in the wine world, and that is there is potential gold mine of money to be made. Now so more than ever.

The costs of high class wines have been rising steadily for a good few years now. As more refined production techniques and better storage capabilities allow for high class wines, so the prices for those wines continues to increase.Jamie Richie, Sotherby’s resident fine wine expert stated that “Prices had risen to nearly unsustainable levels last spring”.However, the struggling market currently has lead to a very clear a drop in prices. March 2009 saw a relatively big downturn in prices averaging 1.2% according to Liv-Ex 100, the tracking index for the top 100 collectable wines.  This is trend that experts expect to continue for while and can in fact be seen throught the wine sector, from wine production to the sales of general wine glasses.

A bottle of 1978 Montrachet Domaine Romanee-Conti recently sold at auction in Chicago for just under $4,000. That very same bottle sold at a Sotheby’s auction a few years ago for $23,929. This sharp decline means that if you’ve ever wanted to start your own wine collection, either for your own consumption or as an investment, it will soon be the right time.Experts agree that the wine sector will continue to drop until the end of this year when it will start to regain some power again.

Joss Fowler, a wine investment expert from Berry Bros & Rudd has some tips for getting the best return. A almost certain bet is going for a Red Bordeaux, he says, because aging this one badly is no easy task for anyone. Additionally, if you want your money to be safe, go for the highest quality wine you can afford and from the best vintage possible. Stay true to this rule and you’ll be filling up your pretty champagne glasses sooner than you think.

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