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I told you that you could turn your love of wine into an investment return.
-- -- Condit wine auction house is reporting record breaking numbers best in a competition this past year so.
Should you forget golden investing -- in 2012.
Well John -- -- as the CEO of Akron Marilyn Condit he is here and you're currently number one.
In the space of wine auctions in Asia in the United States 2011 you broke records.
Is this just the Chinese consumer that is pushing everything here.
Well it's definitely been a major factor in the marketplace and China and Hong Kong.
Market has really opened up over the past three years when the government abolished.
-- -- the market is exploded and change the landscape about two thirds of our business.
Now is in Hong Kong and China.
When you look at all our global revenues and three years ago it was.
But now that the difference between I mean the one.
Thing about collectors vs those that are urges consumers most -- -- -- consuming alcohol but.
For the collector they necessarily buy this to drink the wine they resell it correct.
Correct a lot of a lot of people who collect -- passionate about line eleven drinking -- they love the product.
The fact that it's the greatest beverage on earth and he gives tremendous passion and pleasure.
But at the same time has proven to be one of the great investors the past point five years.
On -- decline great -- -- look at a percentage return are we talking about well in 2010 for example the 51 gross we have one here the 82 of feed.
That's one of the first -- is in the five most traded.
-- -- in 1982 that segment.
I mean that 2010 rather went up 42%.
Bush in the Romany -- which is also a French -- that's a Burgundy yep that's the most -- -- -- that's about 101000 bottle on average OK and -- -- the -- -- went up over 30%.
In both 2010 and 2011 consecutive years 30% returns.
On the entire brand that it is a mean every -- you -- from the RC -- by the right price but the overall index for this brand.
Has been super strong the past two you'll invest 101000 dollars a bottle wine by the time you open -- its -- just ruined is there insurance to cover that.
Well there is insured -- -- kind of like an inherent flaw you know it's kind of difficult to -- -- -- -- it's like a genetic selection when it comes alliances about 2% 3% but there is insurance for spoilage for breakage.
For the the most important things but once you open a bottle.
To drink it's kind of it's over.
Make your chance either take a risk -- also 101000 dollars either well invested are left wondering are you drinking.
I think you had a big auction in Chicago at three million dollar option in Chicago why there you're based in New York -- big in Hong Kong but -- Chicago we're -- And around Chicago for awhile -- part of our plan to expand.
Slowing surely mean this this markets become more more global Chicago's great city.
We want to turn back turn our backs on.
America just because all the buzz and successes in Hong Kong and China right now we felt it was important step there's it's a great -- -- city in the library collections in the area.
You don't what I find so interesting is that still it is the French -- -- -- the most collected the most sought after a winds throughout the world.
These other -- producing regions have really come up on the around Australia New Zealand chill lay.
Or again I mean organs got some great you know Greece and -- -- so you do you think that that.
In ten years I should be investing now in New Zealand one is Australian wines to -- -- and make that the auction.
I mean there's certainly other potential and other areas but it's really -- French French world when it comes to the fine and rare wine market need the commodity investing aspect of it.
You know it there has to history track record fact that these brands -- -- hundreds and hundreds of years of of age ability.
Things are changing you got white castle now that they might be selling -- -- a white castle a burger and a glass of wine.
Does a concerted.
Behaved more people drink you -- -- they gotta start somewhere and it starts with the first the last and I'm too much -- to look be all right John thank you very much thank you and actor Merrill.
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