Not sure if it can be sustained, but it is now a seller’s market.
sportscard market is even crazier. unsustainable
Mark,
The wine market (pricing), continues to expand as demand escalates and costs (example-transportation expense) soar. The increase of fine wine collectors continues to significantly grow, massively, globally.
Chaves’, Leroys’ & Solderas’ hectares are NOT expanding, and when one factors in the average probability of three great harvests per decade, there is a growing, continuing unavailability of wine in this category. Additionally, those wines which have a life span of fifty plus years have become, for all practical purposes, non-existent for acquisition.
Years ago, it was possible to buy cases of Rayas, in a great vintage. Today? Impossible, unless you’re on the ground, have a personal relationship with either the chateau, negotiant or importer and possibly, including a “motivational component.”
Mark, you posted, a year or two past, warning & predicting that the price of fine wine was going to explode, in essence! Bingo! Look at the growth of Beserkers, it is wonderful to see the pleasure and interest in this arena, of all these youngsters!
It’s very simple, far more buyers than availability, especially based on how many vintages per decade produce great collectable and quality wines! As a wine ages, availability significantly erodes!
Yup that is just an insane bubble. I’ve sadly parted with basically all that I had. Impossible not to when a card you bought a few years ago for $100 and was worth $1,000 in December 2019 is now selling for $50K. And the ultra modern cards market (especially graded ones) is even more bubbly.
It will crash and then I’ll buy back what I consider little works of art for a lot less.