Beyond the blog: is fine wine recovering?29th August, 2014 by Tom Bruce Gardyne
Liv-ex has been tracking the ratio of bids to offers for signs of a recovery in the fine wine trade, and in the week to 21 August recorded it had hit 0.46, the highest since March.
“It is only a guide,” said Anthony Maxwell, head of exchange, “But the past suggests that once the bid/offer ratio goes over 0.50 (half the value of bids to offers), then prices start to rise, although this of course not a certainty.”
While Liv-ex doesn’t advise as such, Maxwell added that, “2005 left banks, as well as 100 pointer (non-firsts) from 2009 look the right price and right for an upturn. Otherwise it’s Cos ’03 [“super second” Cos d’Estournel] and some Montrose with people taking a view on Robert Parker’s scores released later this week, and elsewhere more activity around Carruades ’12, which will become physical in September.”
Port also saw a slight bounce thanks to trade for Quinta do Noval, Nacional 2011, released last year. “There tends to be an uptick in September to October in the run-up for Christmas,” says Maxwell.
“Here though I think it was more a case of offer prices that encouraged buyers for stock.”
Beyond the blog is run is association with Liv-ex.