So far, 2016 has been a year of ‘ups’ for the fine wine market – when measured in Sterling, at least. This was the subject of a post (“One Direction…”) at the beginning of the week, and was also the subject of discussion when Liv-ex MD James Miles appeared on Bloomberg this Tuesday evening. However, this week momentum slowed and the Liv-ex Fine Wine 50 – tracking the performance of the First Growths – drifted 0.1%. Bordeaux’s trade share also slipped to 64.3%.
Elsewhere the picture was a little brighter. Italy continued to see high levels of activity on the market at just under 10% by value. Sassicaia in particular had a busy week. 2013 was its star performer in terms of trading activity by value, coming in third overall. Meanwhile, three of its vintages – 2003, 2008 and 2009 – traded at record highs. Those interested in finding out more about Sassicaia can read Jane Anson’s article for Decanter, published on Thursday.
It wasn’t slow across all of Bordeaux this week, however. Today, Pavie 2000 traded at a record high of £5,000 per 12×75. The wine was first awarded 100 points from Robert Parker back in 2003 and has seen steady upward movement since. In Parker’s latest review of the wine, he noted that it is “just beginning to come around and strut its enormous potential”. Buyers seem to be taking note.
Looking for weekend reading? This week, we published the second part of our interview with Bordeaux winemaker and consultant Michel Rolland. In it, we discuss the Bordeaux market and wine criticism. You can find it here. In the first part – here – Rolland discusses his career and winemaking philosophy.