It’s perhaps a reflection of the times that the Australian Wine Exchange (AWX) is to close after the most recent of its public offerings reaches maturity on March 4 next year. I have never been convinced by the model adopted by this business and remain convinced that its success would have flown in the face of a relatively static and limited wine investment climate. I have written on many occasions that the only time that people really make money on wine investment these days is if and when they get in at the first release of a sought-after wine at a very good price. The AWX appears to have followed the same pattern, since its wine shares were quickly bought when below future release price, but didn’t trade much thereafter.
