Who is buying fine wine right now in Asia?
“Hard to say, given that the market has only just turned in the last couple of months,” Vinum responded. “There’s still buying interest from our regular clientele (albeit less frequent nowadays) however they are more sensitive to prices than before. Perhaps it’s easier by rephrasing the question to, ‘Who is NOT buying fine wine right now?’ Over the preceding two years, and particularly in 2007, we experienced a tremendous upsurge in business from clients involved in the financial industry. Particularly those related to the investment field. Their absence is noticeable these days, and as a group they are the main contributors to the substantive fall in our sales. However, what is interesting here in Asia is that they have not indicated any interest in selling their (often substantial) holdings, which were accumulated over the past 2-3 years. And indeed, we know of several whom are still actively consuming the wines purchased and will not entertain the thought of selling.” Berry Bros & R
