Britain's rich are getting richer - and looking to invest in fine wines



2015-06-26 12:24:04

Britain's rich are getting richer - and looking to invest in fine wines

Fine wine auctions could see a rise in interest among top earners, new figures suggest...

The leading earners in Britain have seen their incomes increase much faster than the rest of the population in recent years, new figures released this week indicate.

Findings from the High Pay Commission show that the incomes of the leading 0.1% of earners in the UK, around 47,000 people, rose by an average of 64% between 1996 and 2008 to 538,600 per annum.

In contrast, the bottom half of the population saw just a 7% increase in the same period.

The report suggests that the top 0.1% could receive 10% of Britain's revenue by 2025. The figure currently stands at 4.5%.

 Liv-ex figures indicate that the price of fine wine is matching the growth of billionaires in the world

With Britain's richest looking set to get richer, the alternative investment sector could well benefit, as savvy savers seek to diversify their portfolios with strong investments that offer the potential of high rewards.

Many high worth individuals have already been tempted by the possibilities of investing in wine.

Between 2005 and 2010, the Liv-ex 100 Fine Wine Index showed a 31.8% year-on-year value increase on Bordeaux and other leading wines, a figure that far exceeds the returns offered by most funds and savings accounts.

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