[Asia Economy Reporter Park Byung-hee] Vintage champagne prices such as Dom P?rignon 2008 and Krug 2000 have surged sharply this year, according to major foreign media reports on the 23rd. The foreign media explained that champagne prices, which asset owners had not paid much attention to, recorded much better returns than global stocks this year.
The Champagne 50 Index, compiled by Liv-ex, the London International Wine Exchange, rose 33.7% from the beginning of this year through November. It is recording the highest return since the index began to be compiled. This is more than double the 15% return of the FTSE All-World Stock Index this year.
Justin Gibbs, co-founder of Liv-ex, said that the investment return of champagne was originally like a pension. He said, "Champagne is not the best investment product, but it yields 8-10% returns annually," adding, "This year's returns are astonishing."
The cause of the champagne price increase is a supply-demand imbalance.
Last year, champagne supply decreased due to COVID-19, and this year, frost and downy mildew damage led to poor grape harvests.
On the other hand, so-called 'Grower Champagnes,' made directly by farmers who cultivate grapes, have gained popularity among asset owners, significantly raising champagne prices.
In particular, demand for champagne in the United States has increased significantly. Analysts say this is because the wealth of asset owners interested in wine increased as the New York Stock Exchange rose sharply despite the COVID-19 situation.
The price of Salon 2002 champagne jumped 80% this year. The price for 12 bottles of Salon 2002 reaches ?10,000 (about 15.89 million KRW).
The prices of Dom P?rignon 2008 and Krug 2000 also rose 46% and 62% respectively this year.
At this month's Christie's auction, a rare Perrier-Jou?t 1874 champagne was sold for ?43,000.
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