The Bottled Asset Fund (BAF), an Italian-focused fine wine investment fund managed by Vino Management Corporation (VM), has purchased the collection of vintages of Biondi-Santi Brunello di Montalcino for €4m.

The acquisition includes 7,000 bottles of vintages dated 1945-1975, including hundreds of bottles of the cult 1955 and 1964 vintages.

The collection of vintages is said to be the largest for sale in the history of blue chip Italian wines from a single source and the purchase is said to be the largest in the history of Italian wine.

The Biondi-Santi estate is mainly known for its most important wine, Brunello di Montalcino, from Italy and for introducing wines for long-term ageing to Italian wine culture.

It was the first to follow Bordeaux model, where wines are re-tasted and re-corked every few years.

BAF investment board director and Italian Wine Merchants, the premier Italian wine consultant in the US, CEO and founder Sergio Esposito said Biondi-Santi’s collection is legendary.

"I’m highly confident that we reached a fantastic deal for our investors and for Italy itself. The quality of these bottles directly from cellar is incredible and their value will undoubtedly increase throughout the years as they are an Italian natural treasure," Esposito added.

Demand for Italian wine is growing continuously with Asia being the important export market.

By the end of 2013, VM, the administrative body behind BAF, plans to launch another fund with the goal to commit $25m.