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Quarterly-reports

Q3 2023 Fine Wine Report

Our Q3 2023 report has now been released. The report examines mainstream market performance, the best buying opportunities in fine wine, releases from La Place de Bordeaux and the latest industry news.

Report highlights:

  • Investors leaned towards liquid assets like cash amidst the struggle between the Federal Reserve and inflation, contributing to an environment steeped in risk and uncertainty.
  • Q3 witnessed a marked slowdown and potential bottoming out of fine wine prices, with the Liv-ex 100 index showing modest signs of recovery.
  • The fine wine market morphed into a buyer’s market due to stock availability and dipping prices, especially visible in regions like Champagne.
  • The La Place de Bordeaux campaign, amidst an eleven-month market decline and global economic uncertainties, mirrored the earlier En Primeur campaign in its inability to energise the market, with offerings often misaligned with trade expectations.
  • Wines like Almaviva 2021 and Masseto 2020 stood out, providing relative value for money and showcasing a strong price performance history.
  • Investors should be looking at ‘pockets of opportunity’ where there is brand strength, value and liquidity.
  • Demand is likely to pick up in Q4 with Christmas around the corner and exciting vintage releases on the horizon.

Click below to download your free copy of our quarterly investment report.



Fine Wine Report

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Quarterly-reports

Q2 2023 Fine Wine Report

Our Q2 2023 report has now been released. The report examines the macroeconomic factors affecting fine wine demand, the Bordeaux 2022 En Primeur campaign, recent winery acquisitions and other industry news.

Key findings include:

  • UK and US stocks experienced a positive upswing, but a note of caution prevails for the second half of the year.
  • Major fine wine indices drifted in Q2, partly due to stronger sterling.
  • Fine wine demand remains solid, with wealth managers and financial advisors predicting it is set to increase.
  • Bordeaux enjoyed sustained interest in Q2, due to the release of the high-quality 2022 vintage.
  • The high release prices, however, led buyers to older vintages of comparable quality and the majority of the best-performing wines in Q2 were Bordeaux.
  • Marchesi Antinori took full ownership of Napa Valley’s iconic winery Stag’s Leap, while Joseph Drouhin expanded its Burgundy vineyard holdings.
  • New World releases will likely dominate the Q3 headlines.

Click below to download your free copy of our quarterly investment report.



Fine Wine Report

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Quarterly-reports

Q1 2023 Fine Wine Report

Our Q1 2023 report has now been released. The report examines how the global financial turmoil of the first quarter impacted the fine wine market, the factors affecting demand, and the best performing wines and regions. Download your free copy today.

Key findings include:

  • Mainstream markets had a rollercoaster quarter, but fine wine remained relatively unaffected.
  • Fine wine prices have risen for two consecutive months after a slow start to the year.
  • Several Bordeaux 2011s enjoyed heightened demand and rising prices in light of Chinese New Year.
  • The Burgundy 2021 campaign was met with mixed sentiment from the trade due to low allocations and high prices.
  • Axel Heinz has left Ornellaia to join Château Lascombes and bring fresh life into the estate, which has been underperforming the Super Tuscan in recent years.
  • The spotlight is now on Bordeaux, with the En Primeur release of the 2022 vintage, which has been described as ‘very promising’.

Click below to download your free copy of our quarterly investment report.



Fine Wine Report

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Quarterly-reports

Q4 2022 | Report

Bottles of fine wine

Our Q4 report, analysing the trends that shaped the fine wine market over the past three months, is now available to download. The report also provides a summary of the year in fine wine and a look ahead to 2023, accounting for the macroeconomic environment and core factors such as inflation, currency moves, new releases, supply, and levels of demand.

Fine wine shows remarkable resilience in 2022

The fine wine market remained bullish in the face of severe headwinds, which only started to impact its performance in the final quarter. 2022 brought a perfect storm of pandemic, war, inflation, climate change and unsteady politics, which led currencies, bonds and equities spiralling downwards. But fine wine did not experience any of the volatility that affected mainstream markets. Instead, all major fine wine indices finished the year with increases. Rare Burgundy and vintage Champagne enjoyed soaring demand and peaking prices.

What to expect in 2023

If 2022 was all about Burgundy and Champagne, 2023 is likely to see the return of more subdued market players, which offer value and quality. Stability will be a key theme in the new year as the economic outlook remains uncertain.

Although fine wine might experience a temporary drift following its bull run, many wines continue to set trading records. Among them in Q4 were some of the critics’ ‘wines of the year’ such as Talbot 2019 and Lynch Bages 2014. Bordeaux remains the market’s driving force, with heightened demand across both ‘on’ and ‘off’ vintages. But demand is also getting broader, with more wines considered investment-worthy than at any other point in history, be it grower Champagne, the Rhône, Italy, California or further afield.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by fine wine. Download our brand new report below for your summary of the past quarter in fine wine.



Fine Wine Report


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Quarterly-reports

Q3 2022 | Report

Stock market screen

Our Q3 report, analysing the trends that shaped the fine wine market over the past three months, is available to download. The report examines the impact of currency volatility on fine wine prices, the consistent demand for Champagne, the brands on the move and the expansion of the autumn La Place de Bordeaux campaign.

The global economic slowdown intensified in the third quarter of the year, due to continued high inflation, supply chain problems and tighter financial market conditions. Contrary to the dim outlook for mainstream markets, alternative assets like fine wine performed well. The leading fine wine indices made gains this quarter, largely driven by Sterling weakness. The US Dollar hit historic highs against the pound, increasing the purchasing power of USD buyers who took advantage of the newly created opportunities.

Champagne was once again in prime focus. Its market share increased from 11.2% in Q2 to 15.8% in Q3, while its price index rose 5.4% over the past three months. It is now the best performing region over one year, outperforming even Burgundy. Bordeaux also enjoyed increased demand, particularly for ‘on’ vintages like 2009, 2010 and 2019. This autumn saw the anticipated revision of its Saint-Émilion classification, with the promotion of Château Figeac to Premier Grand Cru Classé A status. Following the announcement, many of Figeac’s older vintages like 2008 and 2013 set new pricing records.

All of the top-performing wines can be seen on Wine Track, which helps investors track wine prices over any given period.

The past three months also welcomed many new wine releases via La Place de Bordeaux, including the 2019 vintage of the Super Tuscans Masseto and Solaia and the Napa Valley icons Cardinale and Joseph Phelps Insignia. The campaign has now expanded to over 100 wines from 32 regions across 11 countries. Our Q3 report points out some of the best value opportunities.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by fine wine. Download this report for your summary of the past quarter in fine wine.



Fine Wine Report

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Quarterly-reports

Q2 2022 | Report

Lafite Rothschild barrel room

Our Q2 Report is now available to download. In it, we examine the wine investment trends that shaped the fine wine market over the past three months. The report looks at how inflation and the possibility of recession have impacted fine wine, the success of the 2021 Bordeaux En Primeur campaign, the top-performing regions and the most in-demand wines.

Fine wine proved itself as a stable investment in the second quarter of the year, which was characterised by exacerbated economic pressure. As stagflation worries grew, equities experienced increased volatility and some entered bear markets. Meanwhile, fine wine prices continued their steady ascent and even outperformed safe haven assets like gold. The best-performing wines were blue-chip labels, which attract regular demand, hinting at narrowing focus and increased caution in the current economic situation.

On a regional level, Burgundy and the Rhône experienced the biggest price rises. The top-performing wines can now be seen on Wine Track, our latest tool, which helps you track wines’ price performance over any given period at a wine label level.

In Q2, Champagne and California continued to trade actively, with Louis Roederer Cristal cementing its place as the most in-demand Champagne. The 2021 Bordeaux En Primeur campaign stimulated interest in previous vintage wines, which presented many good value wine investment opportunities. Some of the most successful 2021 releases included the First Growths and their second wines, Châteaux Lafleur, Calon Ségur, Les Carmes Haut-Brion, Léoville-Barton, Ausone and Cheval Blanc.

The third quarter will throw the spotlight on releases from the Rest of the World, with the La Place de Bordeaux campaign taking place in September. Almaviva, Opus One, Vérité, Seña, Catena Zapata, Masseto and Solaia are few of the star names that will offer their latest vintages internationally, with many more new additions. The next three months will also further test the bullishness of the fine wine market.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Download our brand new quarterly report for your summary of the past quarter in fine wine.



Fine Wine Report

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Quarterly-reports

Q1 2022 | Report

Global markets illustration

 

Our first quarterly report, analysing the trends that shaped the fine wine market in the beginning of the year, is now available to download. The report examines how the global situation has impacted fine wine’s performance and the regions, producers and wines to follow.

The fine wine market was keenly poised at the beginning of the year after a record-breaking 2021. This helped it brave the volatility that traditional assets failed to withhold. Fine wine indices continued to rise despite slowing GDP growth, high inflation and the turmoil brought by Russia’s war with Ukraine. Burgundy, in particular, delivered a standout performance following a successful 2020 En Primeur campaign. Bordeaux continued to lose trade share to other regions, while California and – in particular – Champagne attracted a new wave of investment interest.

The start of the year was all about bubbles. Champagne did not only dominate the list of wines on the rise, but the region took four out of the five spots of the most traded wines this quarter. Louis Roederer’s Cristal itself filled three of these.

Judging by the first quarter, 2022 is set to be an exciting year, abound with opportunities for fine wine. The ever-decreasing supply of the most sought-after wines is pushing up prices but also leading to a market expansion, as buyers seek value and (re)discover regions, new and old. The perceived stability of fine wine is providing protection in an environment of rising costs and inflation and is bringing more investors to the most delectable of markets.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by fine wine. Download our brand new quarterly report for your summary of the past quarter in fine wine.



Fine Wine Report