New figures have shown the Ideal Wine Company that fine wine prices in the US, known for the quality of its California vintages, are set to rise in 2015.
From Bit Player to Up and Coming Behemoth
As a provider of first-rate luxury vintages for a price that won’t break your bank balance, the Ideal Wine Company strives to bring you fine wines from around the world. We have several vintages from the US’s most famous wine-making region, California.
Once a bit player on the global wine stage, the US is becoming known as an up and coming behemoth in the world of wine making. As such it proved no surprise to the Ideal Wine Company when we heard that US fine wine prices are set to rise in 2015.
US Fine Wine to Rise 14% - 18%
According to Wine Searcher, the Silicon Valley Bank’s (SVB) annual State of the Industry report revealed that US fine wine prices are set to rise 14% - 18% throughout 2015.
Defining fine wine as vintages costing $20 or more, SVB went on to reveal that this comes despite three successive large domestic harvests that have provided the industry with an abundant supply of wine. They also argued that prices will increase despite wine makers’ previous reluctance to charge more for their wares due to the state of the economy.
“It’s the Economy Stupid!”
SVB executive vice president Rob McMillan took the time to speak out on the revelation to Wine Searcher. McMillan was quick to argue that "I really think it's going to be a breakout year" for luxury wine in the US.
When asked what the biggest indicator that the SVB’s prediction would bear fruit was, McMillan proceeded to quote Bill Clinton; "it's the economy, stupid." The vice president elaborated by suggesting that "restaurants are starting to be a little bit more optimistic now," and "that's a big change. 35% of fine wines are sold in restaurants."
Check out the Ideal Wine Company Product List
That could push the prices of US fine wine up around the rest of the world. If you’re looking for a reasonably priced US luxury vintage in 2015, make sure you take the time to check out the Ideal Wine Company product list.