In an interview last week, drinks business Bordeaux correspondent Colin Hay projected a rebalancing of fine wine supply and demand around 2028 - which could mean price rises for blue-chip brands in two years' time.
Speaking ahead of db's conference on Wednesday - which considers 'fine wine in a changing market' - Hay shared his views on the sector not only as a Bordeaux critic, but also as an academic: his day job is Professor of Political Science at Sciences Po in Paris, and he is editor-in-chief of New Political Economy.
Having first considered why fine wine has been in a state of relative oversupply since late 2022, he turned to when that glut might end, and why (watch some of that interview below).
As has been well documented, the excess of high-end bottles has a number of causes, from a speculative boom in fine wine buying during the pandemic, to aggressive interest rate rises to combat inflation - reducing the appeal of holding vinous assets compared to high-yielding bonds.
Compounding this has been a downturn in global drinking rates among all age groups, taking wine consumption to its lowest level in decades, exacerbated by the failure of an anticipated wave of luxury ...