Do you “vin-vest?” That is, are you investing in wine?
I’m pretty conservative when it comes to my cash; most of my investing is traditional–mutual funds, bonds, some stocks—but as I’ve been researching, there are plenty of folks that feel that there is nothing more traditional, stable, or “safe” than investing in wine. And in this pandemic era, the number of these “vin-vestors” has increased exponentially. In fact, auction houses such as @christieswine and @sothebys report almost double the amount of auctions and some bids are double what they were pre-pandemic. So why the explosion in vin-vesting? And what is the future of vin-vesting?
Before I go any further let me caveat all this: I am a wine/spirits professional NOT a financial professional, and while I am analyzing data, please DO NOT consider this financial advice.
Wine is considered by many financial professionals to be one of the most stable, reliable performing luxury, alternative assets–more than watches, cars, whiskey– with an AGR of 6.6% on Liv-Ex. The pandemic has made people more comfortable with buying and selling wine online, in both retail and the auction/resale market. Additionally, wines are much easier to put up for auction/resale in a digital environment allowing for a higher velocity of trading in all levels of wine, from high-end Bordeaux/Bourgogne to mid-level wines.
Wine is keeping up with modern times. The seller/buyer base has become younger and more diverse with the increase of digital auctions. Blockchain wine pioneers, such as @wiv.io, offer unprecedented access for sellers/buyers to the wine investing space and potential for greater market returns. Metaverse and online wine auctions have profound implications for new, young, diverse, and women investors to enter the wine marketplace.
Wine investing is a key component of wine in the overall metaverse–a topic in which I’m keenly interested! And while I’m not offering financial advice, wine is something I’m passionate about, and I will continue to explore the opportunities to safeguard my investments and seek greater returns. If nothing else, I can drink my investment!