Additional information is available for the following registered author(s):

• Jan Bentzen
• Valdemar Smith

have mostly involved the finest wines as e.g. the top wines from Bordeaux. In order to analyse

specific auction wine prices, the Mouton Rothschild (Medoc Premier Cru Classé) has been selected

for investigation, where auction data have been collected from the USA (The Chicago Wine

Company), Denmark (Bruun Rasmussen, Selected Wines Auctions) and from other sources as well.

The price development of this specific icon wine is expected to be influenced by a lot of factors,

although theoretically investment decisions concerning e.g. icon wines ought not to be highly

sensitive to short-run business conditions. The empirical findings exhibit that the auction prices of

the Mouton Rothschild differ relatively much between the auction houses, and the time series

analysis reveals only weak evidence of co-movements between wine prices and selected business

cycle indicators.

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Paper provided by University of Aarhus, Aarhus School of Business, Department of Economics in its series Working Papers with number 03-22.

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Length: 23 pages
Date of creation: 28 Jan 2003
Date of revision:
Handle: RePEc:hhs:aareco:2003_022

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Related research

Keywords: Wine auction prices; Mouton Rothschild; business cycles;

Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

This paper has been announced in the following NEP Reports:

• NEP-ALL-2004-02-01 (All new papers)
• NEP-COM-2004-02-01 (Industrial Competition)
• NEP-CUL-2004-02-01 (Cultural Economics)
• NEP-MIC-2004-02-01 (Microeconomics)

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This page was last updated on 2009-11-22.