Today is Brexit day for the UK. At 23:00 GMT tonight, the UK will be leaving the EU. Little immediate change is expected given the agreed 11-month transition period, so calm waters prevail. On Thursday, on the back of a decision by the Bank of England to keep interest rates unchanged, Sterling strengthened, contributing to a small decline in the Liv-ex 50 (332.75, -0.4%).
Bordeaux (54.8%), Burgundy (16.8%) and Italy (7.45%) all saw their market shares fall.
Big gains were in the Rhone (2.5%), the USA (7.1%), and Others (7.5%). Others was led by Spain (2.8%), Germany, think Riesling (1.70%), and SW France (1.8%), which saw rare cognac, Hennessey Paradis Imperial, find the bid.
Four out of the top five wines came from the Right Bank. Petrus 2006 and 2005 were awarded 96 and 98 points by Neal Martin, respectively. The £10,000 price difference offers an insight into the premium the market assigns top vintages over “off” vintages. Is it perhaps the promise of perfection to come? The chart below hints at the financial importance of perfection.
Wine Matcher success
We produced our first video case study, speaking with Farthinghoe Fine Wine on their success with Wine Matcher. Their firsthand account is a testament to the use of technology to speed up and simplify a sometimes tedious task.
Burgundy: After the Peak
After Bordeaux peaked at the end of the China led Bull Market in 2011, buyers started to seek out other corners of the fine wine world. Burgundy attracted the greatest attention. Inside this detailed report, Liv-ex covers the expansion of the Burgundy market, its possible peak, and some thoughts for the future. To access the in-depth report, simply fill out the form below.