| Popis: |
In this presentation, we analyze the Chinese demand for fine wines. First of all, we present what the academic literature says about the definition of fine wine. Then, we show the importance of Asian and especially Chinese richness. These wealthy households are willing to invest in luxury assets and particularly in fine wines. In this context, we also present consumer preferences in the Chinese wine market. Although Chinese demand for fine wines is growing, there is almost no academic literature on this subject. Next, we present our database of the five first growths of Bordeaux over the 2013-2017 period. The first exploratory statistical analyses indicate that the volumes traded are important and that the average prices of the different wines seem to evolve in a similar way. The Chinese auction market for fine Bordeaux wines seems to have been dynamic over the period studied. |
