'Buyers defy Credit Crunch'... 'Auction smashes Asia record in Hong Kong'... '[Auctioneers] Hart and Hart bucks gloomy trend with huge sale...'
Those were just a few headlines describing this asset back in 2008.
And this is set to continue into 2011, despite the recession, say leading economic analysts.
Collectible and vintage wine consumption is set to increase by a staggering 41.4% in China and 36.8% in Hong Kong over the next 18 months, according to their new research.
The bottom line? Asia is the future for wine investors.
Elsewhere, Russian markets are expected to grow by 19.4%. U.S. and UK wine sales are projected to rise by 16.2% and 11.1% respectively.
The research, compiled by the respected financial analysts Premium Liquid Assets, shows that wine is continuing to gain acceptance and recognition as a valuable asset class.
According to the figures, increasing numbers of high net worth individuals are opting for wines in preference to weak paper assets such as stocks.
And Asian buyers and merchants are seizing great opportunities to acquire highly sought-after wines at low prices, thanks to the falling value of the Euro.
The research cites the historical performance of fine wines. During disasters like the 1987 Stock Market Crash and the 1997 Asian Financial Crisis, wine assets continued to steadily gain value.
The findings are supported by Liv-Ex and Bloomberg.
In the UK, Sotheby's Wine department calculated that 31.1% of its total sales went to Asian buyers in the first half of 2009.
The research shows that, for shrewd collectors and investors, Asian wine markets offer an open door to future wealth.