Fine wine market edges lower as Italian vintages gain momentum
Demand for Italian vintages on fine wine trading platform Liv-ex surged last week, the London-based company reported on Friday. Burgundy also saw higher interest, while Bordeaux and Champagne suffered.
The Liv-ex 50, which tracks the First Growths, drifted 0.5 percent in the week through October 8, contributing to Bordeaux’s trade share slide to 72.2 percent, down from 81.9 percent for last week. Champagne, which last month became the third most-traded regional group on Liv-ex, plunged to just 3.4 percent, from 10.4 percent in September.
On the other side of the spectrum, Italy surged to 12.3 percent, up from 5.4 percent last week. A total of 29 Italian wines were traded on the online marketplace, with significant interest in Masseto 2010, Tignanello 2009 and Gaja, Sori Tildin 2010. Burgundy added 2.5 percentage points to 4.1 percent, while the Others (US, Australia, etc.) continued climbing to account for 6.9 percent of all trade, as compared with 4.7 percent in September.
In terms of individual wines, Leoville Las Cases 2007, at £900 per case, was the most traded vintage with a 5.6 percent share of all trade by value. Mouton 2000 (£11,800), Masseto 2010 (£4,300) and Lynch Bages 2008 (£745) and 2000 (£1,550) completed the top five.
Volume-wise, Leoville Las Cases’ 2007 was again on top with 8.1 percent, while Lynch Bages’ 2008 also made the top five. Taittinger’s Comtes 2004 (£730), Tignanello 2009 (£510) and Pichon Baron 2009 (£982) also appeared on the table.