“iDealwine Barometer”: 2024 record year for auctions (39.1 million euros), but average price down

Although modest in absolute figures, wine collecting and auction market has always retained its relevance, for various reasons, even if, in the last period, fine wines are coping with some difficulties, as written several times on WineNews. It is a market, which, for many years, was dominated by French wines, and, which, despite Burgundy and Bordeaux are still leaders, sees Italy increasingly more protagonist, with its most blazoned companies and territories, focused, particularly, in Tuscany and Piedmont, the two “red wine” regions for excellence. Figures by iDealwine, world leader of online wine auctions, and first auction house in France, make an overall overview, which published its “yearly barometer”, a report including a detailed analysis about the market of fine wines, and the main trends of the auction. In 2024, a year judged as “rather stable”, iDealwine organized 48 auction sales overall for a total of 261,465 bottles auctioned off (+17,7%), and an overall value around 39.1 million euros, including buying commissions (+15% compared to 2023). For the wines sold at the auction, the average price per bottle attests at about 149 euros, value in slight decrease (it was 152 euros, -1.9%). To these results, also 2.1 million euros made through platform Fine Spirits Auction, website dedicated to prestigious spirits, and managed in partnership with Maison du Whisky, are added.
The general values are slightly dropping compared to 2023. Last year was characterized for an average price per bottle which passed from 152 to 149 euros (-1.9%) even if the variations in prices result to be contrasting from a region to another: for example, in Champagne, the average price per bottle underwent a decrease by 16%, while Roussillon registered an increase by 24%. Burgundy continued to be the leader region with 45.2% of value, and 27% of volumes auctioned off on iDealwine. Bordeaux still results to be the first region for exchanged number of bottles (32.8%), but the second one in terms of value (27%), parameter seeing it in decrease such as the Rhône wine region. Italy is growing, and passed from 1 to 2% of auctioned value. However, recalled iDealwine, the auctioned value, during the year, regarded mainly the 50 most researched properties. These lasts represented 53% of total value auctioned off in 2024 on iDealwine, and 19% in terms of volume by themselves.
The changes in consumer choices can be noticed also in fine wines: if, in 2019, red wines represent about 77% in exchanged value, today, they are 70% of auctioned total, a data indicating how wine enthusiasts show an increasingly more marked preference towards white and sparkling wines. Moreover, it is worth underlining that, in 2024, the quota of organic and biodynamic wines remained stable. This category represented 28.4% in terms of volumes, and 35.6% in value, while the quota of natural wines, registered a beautiful progression both in terms of value and volume, passing respectively from 6.5% to 7,6%, and from 5.8% to 7.2%.
Being back to Italy, in 2024, the performances of Italian fine wines remained quite stable compared to the previous year, representing 51% of non-French wines sold at the auction for a total of 7,786 auctioned bottles (+1.4%), data consecrating Italy at position No. 6 among the most requested “regions”. Merit mainly came from Piedmont and Tuscany, real protagonists of sales at the auction. In the “Top 20” of wines, there are also labels produced by the most blazoned wineries in Italy, the half Piedmontese. At No. 1 among bottles (75 cl) with the highest value, there is Tuscany with a bottle of Masseto 2001, wine jewel of the Frescobaldi Group, purchased in Italy for 1,313 euros. In 2024, even 55 bottles of this legendary wine were auctioned off with an average price of about 930 euros. Position No. 2 for another legend, this time from Langhe, such as Barolo Monfortino Riserva 2004 by Giacomo Conterno (1,229 euros), and, to close the podium (No. 3), an other “cult” name for collectors such as Soldera Case Basse with Brunello di Montalcino Riserva 2001 (1,188 euros). Position No. 4 for another Piedmontese wine excellence, such as Bruno Giacosa, with Barbaresco Santo Stefano di Neive Riserva 1990 (1,075 euros). Remaining in Piedmont, at position No. 5, with another name which made history, Cappellano, and its bottle of Barolo Pie Franco 2004, which ended in Denmark for 788 euros. To interrupt Tuscan-Piedmontese dominion, there is (at position No. 6), Amarone della Valpolicella Riserva 2007 by Giuseppe Quintarelli (750 euros), custodian and symbol of the great Venetian red wine, and Italian wine. Being back to Piedmont (No. 7) with Giuseppe Rinaldi, and Barolo Brunate Le Coste 2008 (625 euros), a prestigious name such as Roagna is positioned at No. 8 with Barbaresco Pajé 2016 (550 euros). The bottle of Brunello di Montalcino Riserva 1951 by Biondi-Santi flew to Hong Kong (position No. 9, value 538 euros), the company which invented whis wine at the end of XIX century in Tenuta Greppo. To close the “Top 10”, another wine symbol of wine Piedmont, with a bottle Barolo Riserva 1958 by Giuseppe Mascarello purchased by an expert in Portugal for 538 euros. Position No. 11 for the magnum by Langhe Doc Costa Russi 1997 by Angelo Gaja, the “artisan” of wine for excellence, auctioned off for 1,063 euros (531 euro if compared to 75 cl format), No. 12 for Luciano Sandrone, the other Piedmontese “star” with Barolo Aleste (before Cannubi Boschis) 1990 (488 euros). Still Langhe at Position No. 13 with Barolo Monvigliero 1990 by Giovan Battista Burlotto (475 euros), and with Tuscany returning with Le Pergole Torte 2008 by Montevertine (475 euros), an other name which is inviting to collectors such as Sassicaia 2016, jewel by Tenuta San Guido, and Bolgheri (No. 15), which reached a new evaluation per bottle of 454 euros. Still, Barolo at No. 16 with Riserva Villero 2001 by Vietti (438 euros), but in the “Top 20” of most aimed bottles, a sweet wine with Sangiovese base stands out: a half bottle of Vin Santo di Montepulciano Occhio di Pernice (No. 17) signed Avignonesi was sold for 213 euros (425 euros if compared to 75 cl format). Solaia 2015, among the productive excellences of Marchesi Antinori, among the most prestigious families in the world, is at position No. 18 (406 euros), while Brunello di Montalcino “sets the three of a kind” in classification with Corso 2019 by Stella di Campalto (375 euros). To close the “magnificent 20”, there is Montepulciano d’Abruzzo 1997 by Francesco Valentini (375 euros), reality-symbol of the Abruzzi of wine.
In the “Top 20” of the properties which are most appreciated in Italy, there is Piedmont (13 out of 20) winning over Tuscany (7 out of 20), but the first two places are for the “Grand Duchy”. Therefore, Tenuta dell’Ornellaia (Frescobaldi) with 77,658 euros of exchanged value leads, in front of Tenuta San Guido (56,456 euros), and of Angelo Gaja (45,153 euros of exchanged value). In the “Top 10”, also Giuseppe Rinaldi (40,899 euros), Comm. Giovan Battista Burlotto (21,296 euros), Giacomo Conterno (20,694 euros), Tignanello (Antinori) (19,360 euros), Giuseppe Mascarello (13,145 euros), Bartolo Mascarello (12,726 euros), and Bruno Giacosa (11,599 euros). Position No. 11 for Giacomo Borgogno (9,794 euros) and, to follow, Lorenzo Accomasso (9,630 euros), Vietti (8,428 euros), Biondi-Santi Tenuta Greppo (8,410 euros), Pio Cesare (8,264 euros), Roagna (8,244 euros), Case Basse (Gianfranco Soldera) (8,175 euros), Roberto Voerzio (6,851 euros), Il Poggione (6,495 euros), and Casanova di Neri (6,435 euros).
IdealWine makes notice that “final data is an overall drop of auction value (-14%), and, at the same time, a decrease in average prices.
The great Italian faces were affected by the general growth of stability which stood out the market. However, in the territory of Barolo, the research of more traditional properties is growing”. Piedmont, explains iDealwine, dominates the classifications in terms of volume, representing 55% of sold bottles, while Tuscany (28% of volumes) stands out for the higher price particularly: 122 euros against 89 euros of Piedmontese fine wines. Italian red wines have almost the absolute monopoly in the auctions of transalpine platform representing 97% of volume, and 98% of auctioned value. Particularly, the most mature vintages conquered the heart of wine enthusiasts and collectors: in 2024, wines with more than 20 years represented 50% of sold bottles. After the strong increase registered in 2023, the volume of Italian wines purchased at the auction on iDealwine remained quite stable in 2024. Last year, 7,786 bottles were sold with an average price of 93 euros, data slightly dropping (-7%). Italy remains the main foreign country present in iDealwine auctions (51% of the total of non French auctioned bottles), and is also positioned No. 6 among the most sold wine regions, if the parameter of sold volumes is considered. In the “Top 20” of most researched wines, Masseto and Sassicaia, two myths of Tuscany, confirm, therefore, the most desired wines, with “record” auctions. And, if Piedmont and Tuscany drive Italian ranking, collectors didn’t focus only on these two regions, but also on other great names of other important territories of production. Producers such as Giuseppe Quintarelli, Francesco Valentini, Frank Cornelissen, and Tenuta delle Terre Nere were able to catch the attention of wine enthusiasts contributing to reinforce the image of Italy as homeland of wine excellences. Piedmont has its highest presence in the catalogs, and reached a total of 4,297 auctioned bottles, i.e. 55% of sales in terms of volume, but Tuscany, representing 28% of sales, has the highest average price with 122 euros per bottle compared to 89 euros of Piedmont. The other Italian regions timidly showed their presence with properties coming from all of Italy, and, particularly, from islands (Sicily, Sardinia, Pantelleria, and more).
In the end, at a general level, the most exchanged property at the auction is Domaine de la Romanée-Conti with a total of 639 bottles (75 cl, +65%) for an overall value of 2.65 million euros (+74 %), and an average price per bottle of 4,142 euros (+6%). To the myth of Burgundy, also the most expensive lot of the year, an assortment of 12 bottles by Domaine de la Romanée-Conti vintage 1999, auctioned off for 62,375 euros, and the most expensive bottle of the year: one by Romanée-Conti 2020 sold for 20,375 euros, and ended up in the hands of an Italian bidder.