2017 has been the year of three B’s: Burgundy, Brexit and the broadening market. Prices for top Burgundy have climbed to eye-watering heights (the Burgundy 150 index is up 23.9% so far, and some wines – particularly from Armand Rousseau – have nearly doubled in price). Brexit-induced currency fluctuations were largely tracked by the Liv-ex 100 index, and more wines than ever traded on the broadening market.
Throughout, Liv-ex Insights has aimed to provide regular updates and analysis on the fine wine market. Below, we share some of our most popular posts from 2017.
Most popular analysis
Like the original Classification of 1855, Liv-ex’s biennial reclassification ranks Bordeaux wines solely according to price. For the first time, this year’s list was extended to include wines from the rest of the world. Among the ‘First Growths’ were wines from countries including the USA (Screaming Eagle), Italy (Masseto), Spain (Pingus) and Australia (Henschke Hill of Grace and Penfolds Grange). You can find the full rankings here.
Our mid-year review of the most searched for wines by the international trade also proved popular. Perhaps unsurprisingly, the Bordeaux Firsts came in first, but the biggest climbers in the table were Figeac and Chanel-owned Canon and Rauzan Segla.
In May, we published the views of the trade on the 2016 Bordeaux vintage. Lafite was crowned ‘wine of the vintage’, and once again, Grand Puy Lacoste was considered the top ‘value’ wine.
4. Bordeaux 2016 – concluding thoughts
To conclude the 2016 En Primeur, we published a short post on the progression of release prices throughout the campaign (upward, if you were wondering). Our more detailed report on the vintage – ‘hit and miss’ – hunts for value in more depth.
More recently, our post on ‘special bottles’ – inspired by the news of Margaux 2015’s commemorative bottle – looked at how these particularly collectible wines have performed on the market.
Interviews in 2017
One again, we were lucky to interview a diverse range of industry figures this year. In May, we caught up with Decanter‘s Jane Anson following the news that she would become the publication’s primary Bordeaux reviewer.
In June, Bernard Magrez of Pape Clement talked about the development of his brands and his strategy in Bordeaux.
Later in the year, we spoke to fine wine authentication expert Michael Egan. Egan discussed his role as an expert witness in the trial of Rudy Kurniawan, as well the issue of fake wine more generally.
Most recently, we asked Haut Bailly’s Veronique Sanders about her own background and developments at the Chateau.
Guest blogger and Bordeaux wine maker Gavin Quinney kept us up-to-date with this year’s growing season and harvest with his series of articles, including one featuring a frost map of the region. To view the latest, click here.
Several interesting issues face us as we enter 2018. One is the question of which critic(s) the market will follow, particularly given the news that Neal Martin will be moving to Vinous Media to join ex-colleague Antonio Galloni in the first quarter.
With Brexit negotiations ongoing, sterling volatility is expected to continue into new year. This will influence the levels of demand from dollar/euro buyers and ultimately impact on price growth.
Finally, the success of the upcoming En Primeur campaign will – as always – impact market sentiment. A particular concern surrounds volumes that will be released onto the market, both following this year’s frosts and the ongoing trend of releasing fewer and fewer cases onto the market. A sensibly priced campaign that releases the wines in decent volumes at an attractive discount relative to the secondary market has the potential to boost confidence.
As ever, you can keep up-to-date on the latest news direct from the fine wine market via Liv-ex Insights. Our survey is still open. It gives you the opportunity to let us know what you’d like to see more (or less) of. So far, the feedback has been helpful and much appreciated.
Thank you, once again, to the record number of visitors from around the world that joined us on Liv-ex Insights this year. We hope that you have enjoyed – and will continue to enjoy – reading into 2018.
From everyone at Liv-ex, we wish you a prosperous new year.