Q4 2023 Fine Wine Report & 2024 Outlook
Our Q4 2023 report has now been released. The report offers a comprehensive overview of the fine wine market in the last quarter and a forward-looking perspective for 2024. In a landscape marked by correction and repositioning, it delves into the dynamic interplay of market forces, unveiling both challenges and opportunities for investors.
Report highlights:
- The fine wine market is navigating 2024 amidst a correction phase, presenting a chance for strategic repositioning.
- Fine wine prices (Liv-ex 100 index) experienced a 4.2% decline in Q4, reflective of market adjustments amid global economic uncertainties.
- Increased risk aversion has redirected focus to classic wines and regions, with Bordeaux emerging as a standout beneficiary.
- Bordeaux’s resurgence, driven by liquidity and a solid reputation, underscores the market’s adaptability to changing dynamics.
- The upcoming high-volume Burgundy and Bordeaux En Primeur campaigns present opportunities for strategic investment, with pricing strategies holding the key to success.
- Investors, seeking value and consistency, anticipate potential opportunities in the evolving landscape.
- As an improving asset in diminishing supply, their emphasis should remain on long-term gains.
Click below to download your free copy of our quarterly investment report.
Q4 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.
