Unsteady start to October for fine wine

Following a steady August and September the fine wine market got off to a less than perfect start in October though Italy and certain Bordeaux labels powered upwards.

Pallio - ItalyThe Liv-ex Fine Wine 50* drifted 0.5% in the week 2-8 October to just under 268 points and Bordeaux’s overall share of trade dropped from over 80%, where it had been for two weeks, to 72.2%.

Likewise Champagne, which recently overhauled Burgundy to become the third most traded wine region, also saw its share of trade dip slightly although Italy took a sizeable 12.3% of the week’s trade by value.

Liv-ex said that Italy was boosted by 2010 Masseto (which took 2.8% of the week’s trade by value) and 29 other Italian wines including Tignanello 2009, and 2010 Gaja and Sori Tildin.

Lynch Bages was a notable performer over the course of the week, its 2008 and 2000 appearing in the top five wines traded by value and the former also being among the most traded by volume.

Léoville Las Cases’ 2007 was the top wine traded by volume and value during the week.

Despite the wobble, by 8 October the Fine Wine 50 was on its way back up. Furthermore, September got off to a shaky start too with Bordeaux’s share of trade falling below 70% in the week of 4-10 September. It finished the month with a share of over 80% so there’s plenty of time yet to recover lost ground.

*Which tracks the movement of the first growths.

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