Australian wines hardly feature in wine auctions in Europe. I asked David Elswood, head of Christie's wine department, about the proportion of Australian wine at their auctions. 'Pretty negligible really - less than 1% I would say and mostly Grange,' was his response. It is a similar story at Sotheby's as Stephen Mould, senior director and head of department, Europe wine, confirmed: 'Approximately less than 0.4% of our sales are of Australian wines. This is based on data we looked at from sales dating from 1999 to 2006 where Australian wine made up 0.37% of our sales. I pretty sure since then this figure has not improved and may in fact be as little as 0.2 to 0.3%'.
If you are looking to start a wine investment portfolio, then you should start with top Bordeaux, which has a long track record and makes up the majority of the business handled by fine wine merchants and wine auction houses like Christie's and Sotheby's. As always buy from an established and reputable merchant not from an opportunistic cold call.