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Talking Trade – The Italian Stallions

The 2020 Power 100 was published on Tuesday morning and the Italian surge into the top 100 led most headlines. For the first time in the list’s history there were four Italian brands in the top 10 – Gaja (3), Sassicaia (4), Ornellaia (6), Masseto (9) – with another thirteen rounding off the top 100.

Also, in the top 25 we saw wines from Spain, Australia, Burgundy, Bordeaux, and Champagne as the breadth of the fine wine market in 2020 was put on full display. This broadening has carried on into the new year – month-to-date distinct LWIN7s traded (735) have already surpassed that of January’s 2019 total (676).

Bourgogne week is in full swing which seems to have lifted interest in the physical secondary market. Burgundy has now taken 24.9% of trade value month-to-date – it’s highest since May 2019. Currently, 2018 is proving the most active, followed by 2017 and 2016.

USA (10.5%) held near 10% while Champagne (5.2%), Italy (14.9%), the Rhone (2.4%) and Others (4.9%) all saw their trade share drift as Bordeaux took back some lost share.

Chateau Haut Brion 2017 was the most traded wine by value this week. The wine was most recently reviewed by Antonio Galloni, who awarded it 96+ points. He notes “the 2017 Haut Brion is rich and virile, even in a vintage where it has less power than is the norm.” He concludes, “the long, substantial finish suggests readers can look forward to many years of fine drinking.”

Haut Brion was the only First Growth to maintain its position in the 2020 Power 100 top 10.

Giacomo Conterno Barolo Monfortino Riserva 2014 was the top traded Italian wine of the week. The 2013 vintage was the most traded wine across all regions in 2020. However, according to Antonio Galloni the 2014 has a slight edge in quality. He awarded the 2014 vintage 100 points, while the 2013 narrowly trailed at 99 points.

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