Cape Town - On Monday the Kanonkop Wine Estate will, for the third successive year, present its Kanonkop Black Label Pinotage to the market in Johannesburg with a view to boosting the country’s secondary wine market.
The creation of this secondary wine market in South Africa is a replication of the secondary French wine market. It is used by investors to purchase, store and then sell the wine later, hopefully at a profit.
In 2009 Kanonkop began marketing its very rare Black Label Pinotage 2006 with an eye to the secondary market, and this year only 1 200 bottles of Black Label Pinotage 2008 are available at R1 100 a bottle.
Investors can get the wines from only three dealers: The Wine Society, Cybercellar and The Wine Cellar.
Investors have to attend to the storage of the wine, which has a life of about 20 years, themselves.
The Black Label Pinotage series of wines is rare because it is produced from the grapes of a 58-year-old vineyard with a limited yield, explained Kanonkop co-owner Johann Krige.
By placing a limited quantity of outstanding wines on the market, the South African wine industry can create a secondary market with demand exceeding supply, he said. This could lead to dynamic selling and reselling of prestigious wines and the creation of interesting investment portfolios
The 2006 wine series introduced in 2009 at R1 000 a bottle has already produced returns of up to 150% of the original price. Every bottle is individually numbered and a holographic label is attached to guarantee its authenticity.
When the first Black Label Pinotage wines were released the total offering was snapped up within hours.
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