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Wine beats scotch and Hermés bags as top luxury investment
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London Wine Fair Launches Its First 100 Percent Digital Show
The first 100% digital London Wine Fair has taken place; the most significant online event for the drinks industry to date. The organising team has reported exhibitor and visitor numbers which exceeded expectations and affirms the decision to move to a fully digital event in light of the Covid-19 Pandemic; a decision which was taken only four months ago. 2,608 visitors attended the London Wine Fair, with 238 virtual stands, showing over 3,435 different products, from 33 different countries. Borough Wines, which partnered with the London Wine Fair to manage sample rebottling and deliveries, has reported that just over 25,000 individual samples have been sent out prior to and during The Fair, with further samples expected over the coming days and weeks.
The Drinks Business
11 March 2021 By Alice Liang
In 2020, the worldâs ultra-wealthy population was in growth, with China taking the lead. These ultra-high-net-worth individuals were found to be investing in fine wines and Hermés handbags.
According to the latest Wealth Report announced by world-leading estate agency Knight Frank and real estate brokerage Douglas Elliman, the worldâs ultra-wealthy population, referring to UHNWIs with a net worth of US$30 million or more, rose 2.4% to 520,000 in 2020, despite the global downturn.
Topping the list was China with the creation of 9,594 UHNWIs during the year, increasing 15.8% year over year to a total 70,426.
The US saw the addition of 6,080 to 180,060, up 3.5% from the prior year.
Hermes handbags, cars and fine wine got the ultra-rich through COVID-19
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Although the world was confined indoors for most of the pandemic-hit 2020, this was no barrier to those with cash buying high-end luxury goods, accessories and upmarket homes, the Knight Frank Luxury Investment Index says.
The holy grail of handbags: This Birkin in matte Himalayan crocodile leather sold for $US437,330 at Christie’s auction in Hong Kong in November 2020.
Credit:NYT
The market for high-end collectables and investments was mixed, with cars, upmarket overseas holidays and artwork hit, with investors preferring to invest in “passion” sectors, such as bitcoins and accessories.
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