Purpose The purpose of this paper is to identify the macroeconomic determinants of fine-wine prices and estimate their impacts. Design/methodology/approach The author models the Liv-ex fine-wine price indices with the macroeconomic variables of emerging and developed markets on a monthly basis...

Purpose – Given the lack of consensus among wine experts, this paper aims to examine whether this implies they make systematic mistakes or is an expression of their idiosyncratic preferences. Design/methodology/approach – Grade equations are estimated for five famous wine-experts and a panel...