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Fine wine prices defy credit crunch

Published:  03 September, 2009

Prices for the world's top wines rose by 4.6% in August - the biggest monthly increase for more than two years, according to latest figures from the Liv-ex 100 Fine Wine Index.

It claimed the rise in prices is being led by Lafite Rothschild with particularly strong performance in the lucrative Asian markets, particularly Hong Kong and China. Prices there have seen some vintages reach with bottles of 1982 reaching £24,000 a case and 2000 £12,500 a case.

Liv-ex director, James Miles, said: "August is usually a quiet time in the fine wine trade, so this rise in prices, combined with healthy trading on the Liv-ex Fine Wine Exchange, are encouraging signs for the market."

"Although the market is currently being driven by Lafite, it was interesting to note that August saw this demand broaden out to a number of its Bordeaux peers. It's still early days, but if this trend continues the second half of 2009 could be a strong one for fine wine."

The Index is now only 14% off its all time high, set in June 2008. Prices fell by up to 25% after the collapse of Lehman brothers, but have since partially rebounded. In the past five years the index has increased 133%, a performance bettered by none of the major share indices or gold.