Successful Burgundy 2020 campaign boosts sales at Goedhuis
Fine wine merchant Goedhuis has reported a strong first quarter, buoyed by a very successful Burgundy 2020 en primeur campaign that saw sales up 20%.
Sales of the 2020 Burgundies sold out almost instantly, the team said – whether allocated or not, and although there was a shortfall of red Burgundy, this was more than met by the excitement generated by the white Burgundies”.
Notable favourite such as Cathiard, Fourrier, Grivot, Hudelot-Noellat and Mortet, were joined by new names, including William Fèvre, Henri Rebourseau, François Legros and Nicolas Rossignol, it said.
There were also strong sales of older vintages, notably the 2019, 2015 and 2016, which had comparable or cheaper pricing to the 2020.
“As and when the 2020s come onto the secondary market, we anticipate further price rises from the continued lack of supply versus insatiable demand,” they said.
It also reported continued growth of Bordeaux, albeit at a slower pace, rising 6% year-on-year, with new allocations selling swiftly, indicating that demand is still strong.
“The success of our recent offers on Le Petit Smith Haut Lafitte 2019 and Langoa Barton 2009 illustrate the continued strong interest in drinking Bordeaux,” it said.
Momentum was also strong in Champagne, with demand and prices for all tiers of Grande Marque Champagne continuing to soar – Cristal 2013 for example saw a 15% increase in price over the first quarter. There was also strong demand for the second tier of Grande Marque champagnes, such as Piper-Heidsieck’s top cuvée, the 2008 Rare, and Bollinger Grande Anne 2014, which Goedhuis said all sold through quickly on release.
There was also strong sales of the Super Tuscans, particularly the 2019 release, informed by low volumes (down by up to 30% as a result of to cool temperatures at bud-break and late summer hail), and strong demand. It also noted an “excellent reception” for the newly released Ornellaia 2019, which “has got the market buzzing with excitement”.
“2019 is a triumph: it receives a superlative set of scores from the critics that are on a par with the greatest vintages such as 2010, 2009 and 2004. Both Jancis Robinson and Antonio Galloni scored it higher than 2019 Sassicaia, yet the release price remains comfortably below its famous neighbour,” the report said.
Goedhuis also reported that fine wines from Spain were also garnering interest, which is prompting it to start conducting a greater region by region focus. “Currently the value it offers for drinking is the best on the global market, with only a handful of top estates that see purely speculative buying,” the report said.