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.
Q3 2023 Fine Wine Report
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Three reasons why the Brexit deal will prevent customers from paying more for their wine.
Ever since the UK voted to leave the European Union in 2016, trade talks and negotiations between the two sides had been full of uncertainty, posturing and brinkmanship which at times made it feel like a deal was unobtainable. So, the news that a trade deal – now ratified by the UK Parliament - had been struck on Christmas Eve last year was met with welcome relief across all industry sectors on both sides of the Channel and especially by those looking to invest in wine.
1. The costly VI-1 import documentation for UK and EU wines is no longer going to be introduced in July as previously planned. Taking its place will be a straightforward Wine Import Certificate which asks for basic producer and product information. This means far less admin and fees for wine importers, which in turn means no extra costs will be passed on to customers.
2. Crucially, wines will not have to undergo lab assessment for the new Wine Import Certificate. Submitting wines for lab analysis would have caused backlogs of wines which would have created frustrating shipment delays.
3. While UK wine importers are going to have to get to grips with new processes and forms over the coming months, this is just part of the anticipated bedding-in period which will become second nature as time goes on and as new processes are established.
With the previous uncertainty around Brexit having disappeared with the end of the transition period and with 2021 looking to mirror previous years of healthy returns for fine wine, contact us to speak to one of our advisors about creating your portfolio to invest in wine.
