1978•European Review of Agricultural EconomicsRequires access

Wine as a medium term investment vehicle

Walter C. Labys, Bruce Cohen

Abstract

An analysis is made of the prospects of wines as an, investment. After an examination of the characteristics of fine wines and selection of a group of French wines for further consideration, wine auctions are examined with regard to their suitability. for observation of wine investment opportunities. The analysis of yields obtained from wine investment on basis of the auction prices suggests that one should buy wine for the purpose of consumption rather than for investment.

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Key concepts: Wine, Investment (military), Common value auction, Term (time), Consumption (sociology), Economics, Business, Microeconomics