A major wine fund manager has compared the current state of the market to the conditions that existed in the early 1970's but believes that it heralds the start of a steady, rising market. Prices have been relatively stable since the summer and are now starting to tick slowly upwards but sentiment also needs to turn more quickly.
In their October report they too pinpointed that the market cycle tends to go in decades and therefore we should be close to the beginning of the next cycle. Low relative liquidity is one of the main reasons for owning fine wine as an investment so the ride may be bumpy at times. However the mid 1970's was the last time an extended depression in prices took place which was followed by a much longer and less frantic upturn. Sounds like it's a return to flares, long hair and disco dancing! For more details click on article below.