Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Fine Wine Prices Soaring As Chinese Guzzle Regardless Of Cost

Recommended Posts

http://www.telegraph.co.uk/finance/markets/8212885/Will-the-Chinese-wine-bubble-go-pop.html

Will the Chinese wine bubble go pop?
Is a wine bubble brewing in the South China Sea? The price of fine wines, like many commodities, is being determined by China – and demand from the country's new millionaires remains insatiable.
The figures speak for themselves. Data released today shows that, of Sotheby's 2010 total worldwide wine sales, 60pc occurred in Hong Kong. The auction house sold wine worth $88.3m (£56.8m) this year, of which $52.6m was in Hong Kong, $21m in London and $14.7m in New York.
In fact, the price of Lafite Rothschild 1982 has shot up by more than 60pc this year, according to wine blog Liv-ex. That's compared with a rise of just 25pc for gold. Over the last 10 years, the price is
up 1,000pc
.

Soon, just about the entire world's capacity for producing very high end luxury items will be sent to China to try to sate an ever growing and unlimited demand as they empty our wallets and tills and pile their vaults full with £, $, Euros etc. Even our Chavaliers will be short of Burberry gear soon.

Fine wine may well prove to be the world's best investment (next to 57 and 59 Les Pauls).

Edited by Realistbear

Share this post


Link to post
Share on other sites

The thing is the rich Chinese don't know how to act and thus hoover up anything as long as it is marketted properly/

An American budget beer brand (think $1 for 4 cans) pulled of a masterful piece of PR in China. They sold their 25 cents cans of beer in nice bottles for $48USD per bottle in China. People snapped it up like no tomorrow. To save face they will pretend it is uber valuable too.

But it is a symptom of the fact that in China there is simply nowhere for the money to go.

Share this post


Link to post
Share on other sites

The thing is the rich Chinese don't know how to act and thus hoover up anything as long as it is marketted properly/

An American budget beer brand (think $1 for 4 cans) pulled of a masterful piece of PR in China. They sold their 25 cents cans of beer in nice bottles for $48USD per bottle in China. People snapped it up like no tomorrow. To save face they will pretend it is uber valuable too.

But it is a symptom of the fact that in China there is simply nowhere for the money to go.

Russia was the same 15 years ago, they used to tell a joke where two Russians met on the street and one admired something the other had just purchased.

The purchaser said "Thank you, I bought it is that shop over there for $10", whereupon the other pointed in the opposite direction and hissed "You fool, you could have bought the exact same thing in that shop over there for $50!"

Share this post


Link to post
Share on other sites
1,678 billionaires, and 76m millionares drink a lot

Think of a number, add it to an article heading/link - you too can make up stories in your head.

Share this post


Link to post
Share on other sites

Guess where they're buying from - France - this is just the shot in the arm their wine industry needed - boom times and some more!

If I know the French then the Chinese are going to find that a lot of cheap Algerian plonk has mysteriously found its way into their vintage Margaux

BTW this is a huge bust indicator for the Chinese economy. You have been warned.

Edited by realcrookswearsuits

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/finance/markets/8212885/Will-the-Chinese-wine-bubble-go-pop.html

In fact, the price of Lafite Rothschild 1982 has shot up by more than 60pc this year, according to wine blog Liv-ex. That's compared with a rise of just 25pc for gold. Over the last 10 years, the price is up 1,000pc.[/indent]

RB, I think there might be a lesson in the above sentence about what constitutes a real bubble. :ph34r:

Edited by General Congreve

Share this post


Link to post
Share on other sites

RB, I think there might be a lesson in the above sentence about what constitutes a real bubble. :ph34r:

George "Big George" Soros thought gold was in a bubble almost a year ago and Big George is not a fool:

http://www.telegraph.co.uk/finance/financetopics/davos/7085504/Davos-2010-George-Soros-warns-gold-is-now-the-ultimate-bubble.html

Davos 2010: George Soros warns gold is now the 'ultimate bubble'
Gold is now "the ultimate bubble", billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.

Metal traders say its a bubble too:

http://steadfastfinances.com/blog/2009/11/10/traders-know-its-a-gold-bubble-why-dont-you/

Roubini as well:

http://www.project-syndicate.org/commentary/roubini20/English

Its quite divided out there as to whether gold is in a bubble or not. The stochastic crowd would say its long past its sell by date as it hit the deadly triple top recenty with a wave forming at that lucky guess number of $1374. Beware the Ides of March 1980 may be the word out on the street if a big sell off is brewing.

THis seems to have turned from wine into a gold thread?

Share this post


Link to post
Share on other sites

George "Big George" Soros thought gold was in a bubble almost a year ago and Big George is not a fool:

http://www.telegraph.co.uk/finance/financetopics/davos/7085504/Davos-2010-George-Soros-warns-gold-is-now-the-ultimate-bubble.html

Davos 2010: George Soros warns gold is now the 'ultimate bubble'
Gold is now "the ultimate bubble", billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.

Metal traders say its a bubble too:

http://steadfastfinances.com/blog/2009/11/10/traders-know-its-a-gold-bubble-why-dont-you/

Roubini as well:

http://www.project-syndicate.org/commentary/roubini20/English

Its quite divided out there as to whether gold is in a bubble or not. The stochastic crowd would say its long past its sell by date as it hit the deadly triple top recenty with a wave forming at that lucky guess number of $1374. Beware the Ides of March 1980 may be the word out on the street if a big sell off is brewing.

THis seems to have turned from wine into a gold thread?

Is that the same George Soros who went out an bought a load of gold immediately afterwards, once his wise words had helped to temporarily depress the price? Shrewd bloke that George, he didn't get rich by playing fair.

As for turning into a gold thread, I merely commented on how wine related to gold in this situation, exactly like the article quoted in the OP did.

As for now, you'll hear no more from me tonight, possibly ever, as I have to venture into the night to pick up my missus from Heathrow, wish me luck. Should I not come back I leave my gold to you RB, on condition it is smelted into a tiny dartboard in the likeness of my avatar, as I know that's how he'll get the most enjoy from it ;)

Edited by General Congreve

Share this post


Link to post
Share on other sites

George "Big George" Soros thought gold was in a bubble almost a year ago and Big George is not a fool:

http://www.telegraph.co.uk/finance/financetopics/davos/7085504/Davos-2010-George-Soros-warns-gold-is-now-the-ultimate-bubble.html

Davos 2010: George Soros warns gold is now the 'ultimate bubble'
Gold is now "the ultimate bubble", billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.

Metal traders say its a bubble too:

http://steadfastfinances.com/blog/2009/11/10/traders-know-its-a-gold-bubble-why-dont-you/

Roubini as well:

http://www.project-syndicate.org/commentary/roubini20/English

Its quite divided out there as to whether gold is in a bubble or not. The stochastic crowd would say its long past its sell by date as it hit the deadly triple top recenty with a wave forming at that lucky guess number of $1374. Beware the Ides of March 1980 may be the word out on the street if a big sell off is brewing.

THis seems to have turned from wine into a gold thread?

When everyone says its a bubble then maybe it ...... (feel free to fill in the blank)

Share this post


Link to post
Share on other sites

60% on wine or 25% on gold.

Looks like a no brainer.

I don't suppose that is 60% on any wine is it?

To make money on wine is like picking lottery numbers except you have to know what you are doing.

To make money on gold or silver you just have to buy the stuff.

Which is the no brainer?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.