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Bordeaux 'similar to gold' as investment vehicle

Prices of Bordeaux's five first growths and the Grands Crus of Burgundy, particularly Romanee-Conti, are at or above the pre-recession levels seen in 2007.

Auction houses have seen particular success with wine sales in recent months, with Christie's in London, Hong Kong, New York, Geneva and Amsterdam enjoying sales of some $13.9 million (£8.9 million) in the first half of 2010, Reuters reports.

Some 70 bottles of chateau Lafite-Rothschild, which US-based Acker Merrall & Condit expected to fetch a maximum of $175,000 (£112,000) in a spring auction, ended up selling for $320,250 (£205,000).

"During times of economic stress and worry, buyers look to safe investments and gold is seen as a defensive strategy ... The same can be said for the top growth Bordeaux and for the same reasons," independent wine consultant Jennifer Simonetti-Bryan told the news provider.

Bonhams' upcoming sale of fine wines in London on September 9th will feature Krug Private Cuvee 1964, Veuve Clicquot 1966 and Dom Perignon 1966 as highlights.

 



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