Wines of the United States have carried their 2020 momentum into the New year and have traded at record levels this January.
Values, volumes, distinct LWINs traded, buyers, sellers, and most importantly the region’s total exposure (Sterling value of LIVE bids and offers) on the market have all hit an all-time high for this time of year.
Seen below was USA exposure, split by region, in January 2020. Napa Valley and Oakville made up roughly 78% of the country’s exposure with there being only an additional five sub-regions trading.
Fast forward to the present situation and Napa Valley and Oakville still dominate exposure but there has been an explosion of growth in the smaller sub-regions, as seen in the second chart below.
Where have we seen this before? Burgundy comes to mind. Italy too – the region is beginning to see activity spread beyond the powerhouse regions of Piedmont and Bolgheri.
USA is still in its relative infancy when it comes to secondary market activity but the increase in sub-regions shows more unique wines are coming to the market and they are coming from an even greater mixture of regions.