Happy Chinese New Year to all of those celebrating. As we enter the Year of the Ox, Bordeaux 2009 was cast back into the spotlight. After taking a backseat to the 2016 and 2010 vintage in 2020, Bordeaux 2009 regained the lead and has been the most traded Bordeaux vintage of 2021.
Also, on the eve of Valentine’s Day weekend, we were reminded this week that the markets’ love of Bordeaux remains strong. The region’s trade by value grew to 43.1% this week, the highest it’s been since the middle of December 2020. Our market update on the region also highlighted Bordeaux’s ever strengthening bid:offer ratio – an indicator of demand for fine wine, the higher the ratio the stronger the demand – which has sat above 1 for most of the New Year.
Italy excelled this week as fresh Antonio Galloni scores highlighted the quality of the newest (2018) releases from Tuscany. His in-bottle scores came out above his barrel ranges on several occasions.
Burgundy (18.1%) saw a small drift from its previous week’s market share. Activity remains firmly around 2018 but the 2019’s have started to see a little more action.
Champagne (4.7%) share has drifted this January. We’ve traditionally observed this following a busy Holiday period. January slows down but pace picks up throughout the year.
The Rhone (3.6%), USA (6.2%) and Other (3.6%) all too saw small drifts in share.
Tenuta San Guido, Bolgheri Sassicaia 2018 was the most traded wine by value this week. After finding significant activity on the secondary market over the past two weeks, the wine was officially released in the UK at £1,800 per 12×75. The wine has traded as high as £2,000 per 12×75 and last transacted for £1,900 per case.
Buying fine wine: logistical challenges and opportunities
A recent survey, conducted amongst our global merchant membership, outlined some of the biggest challenges and opportunities for fine wine buyers worldwide and we have the results here.