Buyers in Greece have been snapping up cases of fine wine in a bid to hedge currency

Posted on October 2, 2013 ยท Posted in Latest News

Fine wine investment has not only moved away from being a fringe market buy, it is now being viewed as a currency edge in times of turmoil.

Speaking exclusively to IBTimes UK on camera, Peter Shakeshaft, chairman of Vin-X told us that buyers in Greece have been snapping up cases of fine wine in a bid to hedge currency in the event of the country exiting the euro and taking on the drachma.

Shakeshaft, who is also the chairman of the Wine Investment Association (WIA), a body formed to regulate the industry, also talked about growing appetite in the emerging markets, particularly Russia and forcing out rogue traders and increasing investor confidence.

Source- ibtimes