If a friend told you they’d spent several thousands of dollars on a bottle of wine, your reaction might be different than if they had spoken of an expensive foray into stocks and shares. The former is often viewed as a token display of wealth, while the latter is considered a wise and thrifty use of finances. In 2022, though, the picture forming is much different. Global economic uncertainty has led to a growth in other types of investment, including timeless commodities such as wine and spirits. As the Australian partner in Oeno Group, Maxwell Nee has shed light on how one consolidates that change long into the future.
Wine may seem like a sector with traditional marketing sensibilities, but Oeno Group is aware of the ongoing challenge of presenting wine in a different light. As such, Nee retains two titles within the company, Head of Australia and Head of Education. An elevated position down under allows Nee, an Australian native, to lead the investment firm’s development in new territories. At the same time, an informational role gives him the opportunity to present wine like a conventional investment, with all its benefits and caveats made clear.
As long as the gap in understanding is significant, wine investment firms like Oeno Group must ensure that their people are qualified to discuss it in-depth. Attention to detail is their aim in aspects of the business, such as client experience, and company heads expect communication to rise to the same standard. Therefore, Nee must be well-versed in the subject matter and empathetic to a key market.
On the business side, Nee’s ability to grow an online education company during COVID-19-related lockdown measures is understood to be something Oeno Group recognizes. In the first five months of the aforementioned period, his business grew by 300%, achieving a seven-figure revenue within 20 months of trading. Nee now believes the experience prepared him for his current responsibilities in the world’s most awarded fine wine firm.
“Today, my sole passion is transparently educating the world on the advantages and disadvantages of investing in fine wine,” Nee stated. “When they consider the global investment picture, many don’t realize that wine can be a lucrative yet stable physical alternative asset. My ‘Profiting with Fine Wine Masterclass’ shares this insight, as well as everything someone needs to know to feel confident in their own due diligence when investing in fine wine.”
In 2021, the Knight Frank Luxury Investment Index reported a 16% increase in wine investment. Many believe there is a rising need for investors to diversify their portfolios due to the instability of traditional markets. It is now being talked about as a complementary investment, but people like Nee continue to work to ensure it remains a top talking point for the long term.
