Fine wines are still down, but there are signs of recovery. Top value: San Leonardo and Sassicaia

No surprises on fine wines performances, which continued their downward trend at the beginning of 2024. WineNews had already reported that the “Liv-Ex” stock market registered positive signs only over a five-year period. There are, however, many small to medium signs of recovery in the scenario, showing the fine wine market closing the first quarter of 2024 on a slight decrease for the main indices. It has also confirmed a newfound stability, looking at the eWibe Fine Wines index, which includes all the main investment wines in the leading countries in the sector, registering -0.7% in the first three months of the year. France (-1% since the beginning of the year) is continuing its path of recovery following a quite challenging 2023, while Italy (-0.5% since the beginning of the year) has once again achieved the best overall performance. This is the snapshot that the eWibe Observatory, a live market for fine wines, has taken through a market survey conducted on the main trends in the wine investment market, thanks to indices, news and insights.
Observing the individual regions, Tuscany has confirmed its positive trend, registering +1.5% in the 12 month period, even though there was a slight decline in the first quarter of 2024 (-0.5%). Piedmont, on the other hand, registered a slight decline, -0.9%, in the first months of the year, but has confirmed stability over the 12 month period. The French Regions have shown signs of recovery in the quarter, and data has risen greatly compared to last year. Champagne (-0.3% this year and -3% over the 12 month period), Burgundy (-1% this year and -3.7% over the 12 month period) and Bordeaux (-1.4% in the current year, but -4.2% in the 12 month period starting from March). According to eWibe analysts, the decline in the market in 2023 was normal, and could actually favor a new surge of recovery in the French sector. Tuscany is expected to be stable, due to the constant and significant growth trend over the past few years. Forecasts are optimistic in the face of the expected 2021 vintage trading volumes, due to the very high quality of the harvest, and consequently, high scores from critics. There are great expectations regarding recent releases on the market of the Super Tuscan 2021 wines, such as Sassicaia from Tenuta San Guido, which this year boasts a 100 point rating from “The Wine Advocate” by Robert Parker, one of the most influential critical voices on the International scene. Sassicaia received the maximum score only for two other vintages, 2016 and 1985.
“In the second quarter, we expect recovery of the French indices, especially Bordeaux”, Leonardo Bernasconi DipWset, Head of Wine at eWibe, stated, “and in the Italian sector, we expect normalization in trading volumes and market prices, follow the positive growth registers in 2023. Tuscany will definitely receive considerable interest on the global level, thanks to releases of Super Tuscans from the excellent 2021 vintage and the Sassicaia phenomenon, fresh from Robert Parker's 100 point score, will be able to help turn the spotlight on the other Super Tuscans as well. In Piedmont, the 2021 harvest is expected to be in line with the excellent quality in Tuscany. The 2021 Barbarescos will be released this year, while the Barolos will have to wait until 2025. Finally, France, following the experience of a significant decline in 2023, is now offering new opportunities to enter the market”.
The eWibe Observatory gave a detailed picture of the best performing wines registered on the live market in the first quarter of 2024. Some of the bottles that increased their value the most are San Leonardo 2013 from Tenuta San Leonardo (+23.5%) , Bolgheri Sassicaia 2021 (+21.9%), and also Brunello di Montalcino Riserva 2013 from Poggio di Sotto (+17.2%), Le Pergole Torte 2010 from Montevertine (+15.8%), and Barolo 2005 by Bartolo Mascarello (+14.9%). The bottles, instead, that have attracted the greatest interest (views, clicks and searches), include Bolgheri Sassicaia 2021, Tignanello 2021 by Marchesi Antinori, Giulio Ferrari Riserva del Fondatore 2010 by Ferrari, Cristal 2015 by Louis Roederer, and Château Lafite Rothschild 2020. Among the most successful wines in terms of top sales, the “top five” were: Tignanello 2020, Giulio Ferrari Riserva del Fondatore 2010, Bolgheri Sassicaia 2020, Cristal 2015 and Le Pergole Torte 2020. The lot that achieved the highest value transacted was the Leroy Clos de la Roche Grand Cru 2011: a case of three bottles at 27.000 euros.