Sergio Esposito just bought an historic collecion of vintage bottles of Biondi-Santi Brunello di Montalcino valued 5 million dollars. It is a 7,000-bottle acquisition spanning 1945-1975 and including hundreds of bottles of the cult 1955 and 1964 vintages, and it represents the largest single purchase in history of Italian wine.
The agreement was reached earlier this week, and Mr. Esposito, the Director of the Bottled Asset Fund (BAF) ans the Founder and CEO of Italian Wine Merchants, on of the most important Italian wine consultant in the U.S., believes that this sale is a great deal for both BAF investors and Italy.
Sergio Esposito believes that Italian wine has the potential to become a profitable investment asset, creating consistency, transparency and objective value in the global and especially in the Italian wine market.
The reason why the Biondi-Santi cellar is so prestigious is because it is recognized as the creator of Italian most important wine, Brunello di Montalcino, as well as for introducing the Bordeaux model, according to which wines re-tasted and re-corked every few years. Biondi-Santi's outstanding Brunellos are also known for their incredible ability to age: it is indeed possible for a 100-year-old Biondi-Santi Brunello di Montalcino to show remarkably well.
BAF is the world first Italian-focused fine wine investment fund, and his bet on Brunello is going to pay very well. Mr. Esposito's move could really be a good chance to convince the rest of the world that Italian good bottles can be regarded as a profitable investment.
The market for Italian wine is growing quite well globally, with export markets driving up value. BAF is also registering stunning profits (30%), and it is also projected to return net profits to its investors of over 30%. In addition, by the end of 2013, BAF administrative body Vino Management is going to launch another fund with the goal to commit $25 million.