Covid-19 has taken its toll on global markets, disrupting supply chains, pushing stock prices lower, and dramatically affecting currencies as people look to decrease their risk. The Euro has been a beneficiary. The Fine Wine 50, denominated in Sterling, has felt the market pressure, falling -0.17% over the past week. Buyers, however, have taken advantage of drifting prices pushing traded value up 50% on the previous week.
Bordeaux (47.6%) spent another week under the symbolic 50% of trade. Italy, a tariff-free region, saw a jump in share (17.1%) with the 2016 vintage making up over 55% of the region’s trade.
USA (8.5%) saw a big weekly leap, Burgundy held steady (15.0%), while Champagne (6.4%) and Rhone (2.1%) both drifted.
Screaming Eagle 2007 led trade by value as a large parcel changed hands. The diversity of the top movers is a testament to expanding offerings on Liv-ex. 1,359 unique wines (LWIN11) traded in February, the second-highest tally on record.
Lafite Rothschild 2018, the most recent available vintage, released to trade at £6,000 per 12×75 in June of last year, has risen 4.8% since. Voted the wine of the vintage by Liv-ex members and with the potential of a perfect score from both James Suckling (99-100) and Lisa Perrotti-Brown MW (The Wine Advocate, 99-100), the wine is now trading at a higher price than all vintages back to 2010 (£7,126 per 12×75). There is some expectation that the 2018 will be adorned with a commemorative label, celebrating 150 years of Rothschild ownership.
Another of the most active wines by value was the newest release from Louis Roederer, Cristal. Its 2012 vintage has also not been short of critical appraise (James Suckling, 99 points). It is also the first 100% biodynamically farmed vintage.
Liv-ex Indices move in February
The Liv-ex 100 was the shining star in a market full of declining indices. Posting gains for the month, the Liv-ex 100 was pushed up by strong performance by Champagne and Italy. The Liv-ex 1000 – the broadest measure of the market – declined in the month, with the Rhone 100, being the single sub-index to move positivity.
Paul Jaboulet Aine Hermitage Chapelle 2018 released
The newly released wine achieved critical admiration from the Wine Advocate’s Joe Czerwinski and Jeb Dunnuck. Released to the market up 8% on last year, the 2018 may be setting the new benchmark for vintages receiving these scores.
