Bordeaux wines topple Hermes’ Birkin bags, Scotch whisky as top luxury investment during pandemic
- Fine wine prices rose 13 per cent in the 12 months to June compared to a 3 per cent decline in Hermes Birkin handbags, according to the Knight Frank Luxury Investment Index
- Luxury watches and cars round off the top three investment assets, gaining 5 per cent and 4 per cent, respectively
The average price of investment grade wines rose 13 per cent in the 12 months to June, while the average price of the coveted handbag declined by 3 per cent in the period, according to a report by the London-based consultancy that primarily covers real estate.
Wines were followed by luxury watches and cars, which recorded gains of 5 per cent and 4 per cent, respectively.
“Two assets that have been at the helm of the Knight Frank Luxury Investment Index in recent years – rare bottles of Scotch and Hermes handbags – have relinquished their places at the top of the index, recording negative 12-month growth,” said Andrew Shirley, editor of Luxury Investment Index at Knight Frank.
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“Wine is doing really well, not going crazy but growing nicely. There are no signs of over exuberance,” said Nick Martin of Wine Owners, who compiles the data for Knight Frank.