A Comparative Study of Wine Auction Prices: Mouton Rothschild Premier Cru Classé
Auctions of selected wines have regularly taken place internationally and from natural reasons they 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.
|Date of creation:||28 Jan 2003|
|Contact details of provider:|| Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark|
Phone: +45 89 486396
Fax: +45 8615 5175
Web page: http://www.asb.dk/departments/nat.aspx
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
- Jan Bentzen & Valdemar Smith & SÃ¸ren Leth-SÃ¸rensen, 2002. "Prices of French Icon Wines and the Business Cycle: Empirical Evidence from Danish Wine Auctions," Centre for International Economic Studies Working Papers 2002-24, University of Adelaide, Centre for International Economic Studies.
When requesting a correction, please mention this item's handle: RePEc:hhs:aareco:2003_022. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helle Vinbaek Stenholt)
If references are entirely missing, you can add them using this form.