COLLECTING? PUT THOSE PENNIES INTO WINE

MOVE OVER CARS, wine’s back! When it comes to collectibles, the best place to invest in 2O16 was (literally) in liquid assets. For the first time in at least five years, wine surpassed classic cars as the best-performing collectible asset class, according to The Wealth Report, an annual publication by the Knight Frank real estate firm. Values for investment-grade wine jumped 24 percent last year compared with a 9 percent increase for cars, which ranked second. Coins were the third best collectible investment, recording 6 percent growth, followed by jewelry at 3 percent. Art had its worst year since the financial crisis, with values declining by 14 percent. “Wine’s stellar performance was driven by exceptionally strong growth in key areas across the world and in particular, the resurgence of the top Bordeaux chateaux, which form the backbone of most investment cellars,” commented Nick Martin, of the Wine Owners cellar management company. Bordeaux prices had been on the decline following a pullback from Chinese buyers in 2O11. Continued strength in Burgundies also helped buoy wine’s value. A case of 1988 Romanée-Conti was the most expensive wine to sell at auction last year when it went for $158,448 at Bonhams. Collectible cars still had a decent run, but demand for classic Ferraris, Porsches and other vintage rides cooled from stellar years of 2O14 and 2O15. Cars were still the best performer over the past decade, followed by wine and coins.