Wine Investment in South Africa - Cape Wine Academy

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Dissertation submitted to the Cape Wine Academy in partial fulfilment of the requirements for the diploma of Cape Wine Master I, David Allan March, declare that this research report is my own, unaided work. It is submitted in partial fulfilment of the requirements for the diploma of Cape Wine Master to the Cape Wine Academy. It has not been submitted before for qualification of examination in this or any other educational organisation. Signed Dated i
Acknowledgements The following all freely gave of their time and knowledge, either by written communication, telephone call or in interview. Each was happy to share their many years of experience and was willing for their insightful and often bold statements to be quoted here. Emile den Dulk, owner De Toren Private Cellar, Stellenbosch Ken Forrester, owner Ken Forrester Wines, Stellenbosch Bennie Howard CWM, consultant to Nederburg Auction Dave Hughes, Honorary Cape Wine Master, commentator, critic, judge, founder of the Cape Wine Academy Johann Krige, owner Kanonkop Estate, Stellenbosch Roland Peens, Wine Cellar, Cape Town Fiona Phillips, CEO Cybercellar, SA Norma Ratcliffe, Warwick Estate, Stellenbosch Dr Andy Roediger CWM Eben Sadie, winemaker / viticulturist, Sadie Family Wines, Malmesbury Beyers Truter, owner, Beyerskloof, Stellenbosch ii
Page 1: Wine Investment in South Africa Dav
Page 5 and 6: Contents Acknowledgements………
Page 7 and 8: List of Tables Table 1 Key investme
Page 9 and 10: 1.2 Scope of Assignment Wine invest
Page 11 and 12: The barriers that seem to exist whi
Page 13 and 14: meet future market demand. The 1855
Page 15 and 16: after seller’s premium ) giving t
Page 17 and 18: Hence the growth of dozens of inves
Page 19 and 20: Table 5 above shows an even more im
Page 21 and 22: Thus 1 case brokered personally or
Page 23 and 24: would avoid the need for the invest
Page 25 and 26: For the top châteaux, returns have
Page 27 and 28: ‘bargain’ prices. This requires
Page 29 and 30: Ratcliffe, though, believes that,
Page 31 and 32: 2e) buying through an investment co
Page 33 and 34: worldwide and hugely increased the
Page 35 and 36: 6.1.2 Securing a release price High
Page 37 and 38: Other vintages should be considered
Page 39 and 40: Indices Level MOM YTD 1yr 5yr Liv-e
Page 41 and 42: may be legally more deserving than
Page 43 and 44: Even with the best intentions, wine
Page 45 and 46: Ullages (Level of Wine) For Bordeau
Page 47 and 48: Section 2 Chapter 7 7.1 South Afric
Page 49 and 50: people distrust wines of age and do
Page 51 and 52: 8.2.3 Domestic recognition of SA fi
Page 53 and 54:
‘It would be depressing indeed to
Page 55 and 56:
some top producers do not enter the
Page 57 and 58:
found in numerous bottle shops - an
Page 59 and 60:
cR50,000 in SA or an underground ce
Page 61 and 62:
The need for investment from abroad
Page 63 and 64:
Krige is selling previous vintages
Page 65 and 66:
‘South Africa may not have as muc
Page 67 and 68:
found an even more serious lack of
Page 69 and 70:
important to establish to the world
Page 71 and 72:
cases the CWG wines achieved higher
Page 73 and 74:
ecession. Table 16 below shows wine
Page 75 and 76:
seeing négociants make huge profit
Page 77 and 78:
wine market. De Toren’s will be m
Page 79 and 80:
For this reason, savvy investors mi
Page 81 and 82:
Section 4 Summary and conclusions T
Page 83 and 84:
References 90pluswines. (2011) http
Page 85 and 86:
Goode,J. (2009) http://www.wineanor
Page 87 and 88:
Norman, R. MW (2011) Chenin Challen
Page 89 and 90:
Van Rensburg, A. (2011) The Big 5 S
Page 91 and 92:
Appendices Appendix A Interview wit
Page 93 and 94:
CT has still got 2/3rds of the fore
Page 95 and 96:
We were one of the first to offer e
Page 97 and 98:
There is no way forward for SA wine
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