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Knight Frank conducts an annual study on luxury investments, and this year, wine came out on top, overtaking Hermès handbags.
From June 2020 to June 2021, wine surpassed Hermes handbags and rare whiskey as the top luxury investment asset. In fact, wine prices raise 13% during the period, helping to put it at the top of the ranking done by Knight Frank, which tracks the market performance of luxury assets including art, cars, jewelry, coins and furniture.
“Wine is doing very well, not going crazy but growing nicely. There are no signs of excessive exuberance,” Nick Martin of Wine Owners, which compiles the data for The Knight Frank Fine Wine Icons Index, said in a statement.
“Bordeaux, whose sales have slowed over the past decade, has done well this year as some older vintages, particularly 1996 and 2000, are attracting more collector interest for their value,” he added.
“Wine is the favorite in the 12 months to the end of June 2021, with prices up 13% and 119% over a 10-year period,” said Andrew Shirley, editor of the Index.
The luxury assets market
This performance allowed watches and cars to take second and third place with gains of 5% and 4% respectively. The enduring appeal of high-end watches was illustrated by the recent success of companies such as Watches of Switzerland, which saw its stock rise more than 200% over the past year.
Rare whiskey and Hermes handbags saw price declines of 4% and 3%, respectively, placing them in the bottom two spots of the index. Collectible handbags had carried the best-performing luxury asset in 2019, with a 13 percent price increase. Rare whiskey, meanwhile, had been the best performer the year before.
Over long periods of time, however, rare whiskey has the best return on investment, with price appreciation of 483% over the past 10 years. It is followed by cars and wine, whose prices have increased by 180% and 119%, respectively, over the same period.
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Knight Frank conducts an annual study on luxury investments, and this year, wine came out on top, overtaking Hermès handbags.
From June 2020 to June 2021, wine surpassed Hermes handbags and rare whiskey as the top luxury investment asset. In fact, wine prices raise 13% during the period, helping to put it at the top of the ranking done by Knight Frank, which tracks the market performance of luxury assets including art, cars, jewelry, coins and furniture.
“Wine is doing very well, not going crazy but growing nicely. There are no signs of excessive exuberance,” Nick Martin of Wine Owners, which compiles the data for The Knight Frank Fine Wine Icons Index, said in a statement.
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Knight Frank conducts an annual study on luxury investments, and this year, wine came out on top, overtaking Hermès handbags.
From June 2020 to June 2021, wine surpassed Hermes handbags and rare whiskey as the top luxury investment asset. In fact, wine prices raise 13% during the period, helping to put it at the top of the ranking done by Knight Frank, which tracks the market performance of luxury assets including art, cars, jewelry, coins and furniture.
“Wine is doing very well, not going crazy but growing nicely. There are no signs of excessive exuberance,” Nick Martin of Wine Owners, which compiles the data for The Knight Frank Fine Wine Icons Index, said in a statement.
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