Fine wines, eWibe: Italy beats France in 2023 driven by great wines from Piedmont and Tuscany

From the greatest increase in value to success in terms of sales, Italy beats France again, driven by some big names in Italian enology and, confirming again, the weight of a successful 2023 for the fine wines market, which closes, for the Italian sector, with an overall growth of +3.6% compared to the slowdown recorded by the French one, down by -3.3%. Trend of two countries, Italy and France, which have a preponderant share in the investment wine sector, with the fine wines market closing in 2023 under the banner of stability, with values substantially in line with the previous year (-0.1%), 2022, when there was an increase of +10.7%, and with the cumulative one, over the past five years, in which the fine wines market has increased its value by more than 60%. It emerges from the market analysis, conducted by the eWibe Observatory, live market of fine wines, which photographs the main trends taking place in the investment wine market thanks to indexes, news and insights.
Looking at the individual regions, Tuscany (+3.4%) and Piedmont (+2.2 %) once again climbed the Italian podium, while, over the 12 months, the physiological decline in Burgundy (-5.3%), Bordeaux (-2.4%), and Champagne (-2.1%) was consolidated. The Italian market benefited from the marketing of vintages of excellent quality, such as 2019 and 2020, which were able to attract the interest previously directed at the French market. Tuscany and Piedmont, for the second consecutive year, recorded positive performances characterized by sustainable growth rates. The French market, on the other hand, saw Champagne return to a larger volume of supply in 2023 after two years of limited production that had particularly supported its price. In general, both Bordeaux and Burgundy declined in volume: the latter, in particular, eWibe again points out, registered a correction in value after years of strong growth driven mainly by Asian markets.
In detail, among the best-performing labels recorded on the live market in 2023 and photographed by the eWibe observatory, among the bottles that have increased their value the most is Cantina Tramin, with its 2015 “Epokale”, the collectible white wine par excellence, Gewürtraminer and white wine pearl of Alto Adige, which records an excellent +75%. In second position is Ferrari’s “Giulio Ferrari Riserva del Fondatore” 2009 (+70.6%), a wine produced only in truly exceptional vintages by the iconic Trentodoc winery. In the top-five we also go to France with an excellence from Bruno Clavelier, “La Combe d’Orveaux” 2016 (+41.9%), which precedes another all-Italian white berry jewel, in this case from the Langhe, Gaja’s “Gaja & Rey” 2011 (+40.3%), produced by one of the names, Gaja, that has contributed most to the success of Italian oenology in the world. In fifth position we return to the “cousins” from beyond the Alps with Bruno Paillard’s champagne N.P.U. 2003 (+40%). Italy that is also present in those bottles that have found more interest and therefore views, clicks and searches.
In the “small family” mentioned by eWibe, along with the French Louis Roederer “Cristal” 2004 and Krug “Vintage Brut” 2008, two champagne “giants”, we find Montevertine “Le Pergole Torte” 2020, the expression of Sangiovese, Tuscany’s symbolic grape variety, for the Manetti family winery, which has made it its flagship wine. Among the most sought-after wines, the Ferrari “Giulio Ferrari Riserva del Fondatore” returns once again, but, in this case, with the 2010 vintage and the Cantina Tramin “Epokale” 2015.
Among the most successful bottles in terms of sales, some of the “heavyweights” of Italian enology take the field, with Tuscany and Piedmont dominating the top spots. And so we find Tenuta San Guido Bolgheri’s Sassicaia 2020, an unfailing wine in the fine Wines rankings, but also Antinori’s Tignanello 2020, a historic and fundamental family of Italian wine; and again, Giacomo Conterno’s Barolo “Francia”, a true icon and among the highest expressions of Piedmont’s king wine, present, in this special ranking also with Bartolo Mascarello’s Barolo 2018, one of the most famous and fascinating names of Langa.
France in this “magic five” is represented by Dom Pérignon “Vintage” 2013, the historic French champagne brand, produced by Moët & Chandon, but it can "puff up its chest" with the highest transacted value bottle, namely “Romanée-Conti Grand Cru” 2016 from Domaine de la Romanée-Conti, which touched 23,000 euros.
“The fine wines market in 2023”, says Leonardo Bernasconi, DipWSET, Head of Wine eWibe, “has regained more balance after a decade-long run. It is a physiological and healthy pause that, by virtue of the normalization of some quotations, can represent an interesting window of entry into a market that traditionally records double-digit performances. Looking ahead to 2024, we expect this set-up to hold for at least the first half of the year, during which Bordeaux could offer the best buying opportunities. On the other hand, we believe the upward trend of Italian wines characterized by an excellent price/quality ratio can continue and will benefit from concrete revaluation opportunities in the medium to long term. We expect the recent 2019 and 2021 vintages in Piedmont and Tuscany to generate significant trading volumes on the eWibe market, due to the exceptional quality of the vintages”.