{"id":1446808,"date":"2023-12-30T12:35:00","date_gmt":"2023-12-30T17:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1446808"},"modified":"2023-12-30T12:35:00","modified_gmt":"2023-12-30T17:35:00","slug":"speculative-money-dumps-vintage-champagne-bottles-as-bubble-in-bubbly-pops","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/speculative-money-dumps-vintage-champagne-bottles-as-bubble-in-bubbly-pops\/1446808\/","title":{"rendered":"Speculative Money Dumps Vintage Champagne Bottles As ‘Bubble In Bubbly Pops’"},"content":{"rendered":"

Speculative Money Dumps Vintage Champagne Bottles As ‘Bubble In Bubbly Pops’ <\/span><\/p>\n

\n

Sentiment around the luxury market quickly turned negative in the second half of this year as elevated inflation, high interest rates, and a slowdown in the economy pinched consumers.\u00a0<\/p>\n

In May, we first asked this question:\u00a0Did Europe’s Luxury Bubble Just Burst?<\/em><\/a>\u00a0<\/p>\n

By June, we pointed out\u00a0Luxury Recession: Diamond Prices Crash, Rolex Downturn Persists.<\/em><\/a>\u00a0<\/em><\/p>\n

In October, we said:\u00a0First Rolexes, Then Diamonds, Now Consumers Revolt Against Mercedes S-Class As Luxury Bust Worsens<\/em><\/a>\u00a0and\u00a0<\/em>‘It Ain’t Gucci’: LVMH Shares Tumble As Luxury Bubble Unravels<\/em><\/a>.\u00a0<\/em><\/p>\n

Then last month, noted:\u00a0<\/em>Luxury Bust Worsens: Rolex, Patek Prices Hit Two-Year Lows<\/em><\/a>.\u00a0<\/p>\n

Within the deflating luxury bubble, we now focus on the fine vintage champagne market that has popped.\u00a0<\/p>\n

Financial Times<\/a>\u00a0cites new data from online wine marketplace Liv-ex that shows the Liv-ex Champagne 50 price index, which nearly doubled during Covid, has moved well off its high since the Federal Reserve embarked on the most aggressive interest rate hiking cycle in a generation.\u00a0<\/p>\n

<\/a><\/p>\n

“Speculative money came into the market, buying multiple cases when they really needed only one or two,” said Justin Gibb at Liv-ex.<\/p>\n

Just like speculative money has dumped Rolexes, Gibb noted, “They’re now selling these excess cases.”<\/p>\n

Champagnes with the largest price gains during the Covid mania have retraced the hardest.\u00a0<\/p>\n

According to merchants, speculators who stockpiled cases of 2012 Roederer Cristal or 2004 Krug have been hit by a hangover this year, losing more than a fifth in price so far.\u00a0\u00a0<\/p>\n

Much of the fizz is coming out of the fine vintage champagne, as well as fine wine, according to other Liv-ex indexes:<\/p>\n

<\/a><\/p>\n

As for the champagne market as a whole, the\u00a0United States and the UK are the top importers in the world<\/a>, accounting for\u00a033.7 and 28.1 million 750 milliliter bottles in 2022, respectively.<\/p>\n

<\/a><\/p>\n

The downturn in luxury might impact\u00a0champagne sales this holiday season.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 12\/30\/2023 – 07:35<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/speculative-money-dumps-vintage-champagne-bottles-bubble-bubbly-pops<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Speculative Money Dumps Vintage Champagne Bottles As ‘Bubble In Bubbly Pops’ Sentiment around the luxury market quickly turned negative in the second half of this…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1446808","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-64nC","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1446808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1446808"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1446808\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1446808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1446808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1446808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}