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2003 leads vintage Port’s price performance over one year

  • Port prices have risen just 1% in the past year.
  • Warre’s has been the top-performing Port brand, up 7.7%.
  • 2003 has been the best-performing vintage, up 17.2%.

Portugal’s secondary market is heavily reliant on Port, which accounts for 98% of the country’s trade by value and 94% of the number of Portuguese wines that traded in 2021.

Its price performance in the past year, however, has been rather flat, with the Port 50 index rising just 1.1%. Within it, some brands and vintages have provided double-digit returns, while others have become more affordable.

Warre’s leads among Port brands

Over the past decade, Dow’s and Graham’s have emerged as the best-performing Ports, up 44.5% and 44.1% respectively.

But in the past year, Dow’s has dipped 1.3%. Fonseca has declined the most (-5.5%), while Warre’s has risen to the top, with a 7.7% increase.

The 2003 is the best-performing Port vintage

The 2003 vintage, which was declared by all major Port houses, has provided the best returns, rising 17.2% in the past year. Warre’s has been the top-performer of the vintage, up 29.7%.

The 2003 vintage has also been met with firm secondary market demand, becoming the second-most traded by both value and volume after the other universally declared 1977 vintage.

The other biggest risers have been 1994 (6.9%), 2011 (6.0%) and 2000 (5.8%).

Leading Port wines

On an individual wine level (LWIN11), Graham’s 1994 has enjoyed the biggest price increase in the past year, rising 31.9%.

Taylor’s 2016 has risen by a similar amount, 31.2%. However, the 100-point (James Suckling) wine remains available below its release price and currently costs £560 per 12×75.

Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 560+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 16,000 wines. Independent data, direct from the market.

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