Italy Shines Bright On The Fine Wine Market20/05/2020
Despite gloomy weather on the wider markets, Italy has brought welcome sunshine to the fine wine market in the first four months of 2020 with growing market share and dominance of Liv-Ex’s top performers table.
Italian wines claimed five spots on Liv-Ex’s top 10 price performers for Q1 2020. Leading the table was Sassicaia 2009 with a return of 17.3% across from January-March 2020, closely followed by Gaja’s Sori San Lorenzo 2011 on 16.6%. Not far behind, in fourth and fifth place respectively, were Sassicaia 2013 with 12% and Solaia 2013 on 11.8%. Masseto 2007, the fifth Italian wine to make the table, came in seventh place with a respectable 8.9% across Q1.
Italy has also made significant gains in terms of market share, reaching a record 22.5% during April 2020, and even hitting 27.7% across the week April 17th-23rd. This rise comes against a backdrop of uncertainty over this year’s postponed Bordeaux En Primeur campaign and the well-received Brunello ’15 and Barolo ’16 campaigns.
Italy has also benefited from its current exemption from hefty 25% US trade tariffs which have further eaten into Bordeaux’s declining market share. Bordeaux’s record low for 2020 to date is 50.5%, down from over 95% just a decade ago in 2010.
Also on the rise are the Rhone, with market share of 5.2%, and the Rest of the World which includes California and Australia and hit 13.3% during the month of April. This latter figure represents a dramatic jump from the Rhone’s 5% market share at the start of the year.
Interestingly, three wines from the Rhone also featured on Liv-Ex’s top 10 price performers for April 2020: Domaine Jean Louis Chave Hermitage 2010 with 10.8% growth, Chapoutier Ermitage Pavillon 2015 with 5.3% and Beaucastel Chateauneuf-du-Pape 2009 with 1.7%.
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