Containing all the latest Liv-ex research and analysis, the full issue includes:
- Fine wine for turbulent times
- Major Market Movers: A rich mix
- Chart of the month: Further broadening of the market in 2019
- Critical corner: Jeb Dunnuck on the Southern Rhone, Part 2
- Final thought: The Italian divide: Piedmont and Tuscany
How to access the full report
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You can download page one – with charts and data – here, or read the text below:
Fine wine for turbulent times
September tends to be a month of two halves. It begins with an ever-expanding number of international releases through La Place de Bordeaux. The release of wines such as Opus One, Masseto, Solaia, Almaviva and Insignia now marks an important date in the fine wine world’s autumn calendar. The second half of the month takes us back to everyday market business, including last minute autumn festival trade and early preparation for Christmas festivities. But while the market saw a decent uptick in activity from the holiday induced slumber of August, growing geopolitical concerns in Hong Kong combined with the threat of US tariffs on European wines kept a lid on prices.
Bordeaux’s share by value rose from 45.1% to 52.5%, while Burgundy took a solid 22.8%, Italy – 8.9%, Champagne – 7.9% and the Rest of the World – 5.6%. Within the “others” category, Australia (1.8%), USA (1.7%) and Spain (1.2%) shared the spoils. The most active Bordeaux vintages were 2009 (25%), 2010 (11%) and 2016 (10%). The First Growths accounted for 39% of the region’s trade.
The Liv-ex 100 index, the industry benchmark, dipped 0.3% to close September on 311.35. So far in 2019, the index is flat after falls in the first quarter and gains during the summer months. The broadest measure of the market, the Liv-ex 1000, rose 0.3% last month, helped by the Burgundy 150 sub-index (+2.6%). The Champagne 50 and the Italy 100 were also up, 0.6% and 0.2% respectively. The Bordeaux Legends 50 was the biggest faller, down 0.9%.
Liv-ex released two special reports in September – “How to value fine wine”, examining the factors that influence the price of a wine, and “The fine wines of Italy: past, present and future”, which looks at the fundamentals of the Italian market.