Momentum continues for fine wine market in October
The latest figures show that confidence in the fine wine market continued to build throughout October, will all Liv-ex indices rising.
The Liv-ex 100 Index rose 0.9%, the exchange said, with the Bordeaux 500 Index posting its first gain since March 2023.
However, it was Italy that dominated trade in October, accounting for 19.4% of trade– its highest share since August 2020, and the highest trade value since April 2022. The top producers in the Italy 100 index, which tracks the price performance of top Italian wines, were Sassicaia and Soldera, although San Guido and Giacomo Conterno topping the traded producers list, with the Italy 100 index, rising 1.3%.
Other interesting shifts showed that while the UK’s share of trade by volume had declined to around a third (30%) from nearly three quarters (74%) in 2005, sales had diversified and was “more influential” across a broader range regions, including Burgundy, California and Piedmont.
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It is also worth bearing in mind that the overall platform has grown hugely in the 20 year timeframe – as Liv-ex market analyst Sophia Gilmour noted, UK buyers are now sharing a stage with buyers from other regions. “Europeans for example, who might once have only purchased directly from producers, are now finding other profitable avenues,” she explained.
Similarly, whereas Bordeaux previously dominated the platform, (speaking in a recent webinar, Anthony Maxwell, chief commercial officer of Liv-Ex noted that up until ten years ago, Bordeaux dominated, having accounted for around 80% when Liv-ex launched 25 years ago) it now shares its stage with Burgundy, Champagne, Tuscany and California.
“The latter regions have worked hard on their international reputations over the past decade, which has benefitted their market share well,” Gilmour concluded.
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