Italy

Last week Italy’s share of trade on the market jumped to over 10% by value. Although this is above the normal level, in 2017 Italy has been the third most traded region on Liv-ex, accounting for 6.2% of total trade. This is consistent with its 6.1% share in 2016.

The table above displays the most traded Italian wines this year. Shrewd readers will note that all of the wines listed come from Tuscany, which constitutes roughly 85% of Italian wines on the secondary market. Italy’s other major fine wine producing region, Piedmont, contributes just under 12% by value.

As was the case in 2016, Sassicaia has been the most active Italian wine. In 2017 it has accounted for 29% of Italian trade. The focus has been on the younger vintages. Sassicaia 2014 (WA 93) and Sassicaia 2013 (WA 97) are the most popular, representing 41.4% and 21.4% respectively.

The Market Price of the 2014 has remained flat since entering the market, while the 2013 has climbed 11.9%, perhaps because of the universal critical recognition that the 2013 is the better vintage.

Over the course of this year the Sassicaia index has climbed 8.2%, underperforming Ornellaia (11.5%) and Solaia (13.2%) but comparable to Masseto (8.5%). Curiously Tiganello’s index has fallen 0.3%, coinciding with a lower value and volume of the wine trading on Liv-ex.

Italy