Wine collectors are feeling bullish about the market, according to results from the latest Cellar Watch competition, which closed on Wednesday. Cellar Watch members – wine collectors from around the world – were invited to guess the end of year level for the Liv-ex Fine Wine 100 Index.
There were over 700 respondents, and predictions were overwhelmingly bullish. September’s index level of 260.08 was the most recent: over three quarters (77.8%) of respondents anticipated that this would rise by December 31st. The average guess for its future level was 268.74, which would show a 3.3% increase from September.
The chart below shows that the majority of predictions fell within the 260 – 269.99 bracket, and the second largest amount were for 270 – 279.99. Of the respondents, the vast majority (92.7%) predicted that the end of year level would fall somewhere between 240 and 299.99.
Members were also surveyed on their reasons for buying wine. Its importance as both a passion and an asset was evident, with three quarters of respondents saying they buy to both drink and to invest. Of the remainder, 15.9% buy to drink only, and 8.6% buy to invest only.
Wednesday’s month-end index level showed that the Liv-ex 100 fell slightly in October, but there are still two months to go before the end of year level – and the winner – is revealed.