Wine Collecting a Better Investment than Real Estate?

http://www.theglobeandmail.com/servlet/story/RTGAM.20081015.l-decanter15/BNStory/lifeMain

Interesting that they think the 82 Lafite sells for more than the more highly reviewed 82 Latour because Asian buyers have less trouble pronouncing the name....

when real estate is going up it is probably a better investment; when wine is going up, it is better. when the both go up and down - which they always do - it depends on which floor you get on.

I don't believe that the prices of trophy wines would be immune from the effects of a deep worldwide recession. Some currently wealthy wine-lovers would go bankrupt and have to unload their assets, including their cellars. It all depends on the depth, length and geographical extent of the recession. I believe that those who pile into the trophy wine market now could well regret it bitterly in a year or two (particularly if ease of pronunciation is an important consideration in choice).

What I describe happened in the 70s. The present Asian interest in wine could provide a cushion to wine prices this time, if Asia is not too badly affected by the downturn.