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Italian vineyards at auction are declining: 244 lots in 2023 worth 67 million euros

Npls Re_Solutions Study Center Astasy Analytics: “positive decrease”, worth 250 million in 2019. Tuscany and Umbria with higher prices

When we talk about wine auctions, the first thing that comes to mind are the precious lots that end up under the gavel to the delight of collectors who can take home bottles that have made history, true “cults” to be jealously preserved. But wine auctions are not only these and also concern something materially broader: this is the case, for example, of the 244 vineyard lots that ended up at auction in 2023 in Italy, for a counter value of no less than 66,648,711 euros, as shown by the analysis carried out by the Centro Studi Astasy Analytics of Npls Re_Solutions realized thanks to the “Auction System” system that allows banks and servicers to feed updated data regarding real estate executions and to clusterize, as in this case, the various types of assets at auction. A number, however, decidedly lower, testifying to an industry that is regaining strength and determination, than that of 2019 (the last survey by the Centro Studi Astasy) when 1,142 vineyard lots ended up at auction, equal to an auction base value of 250 million euros, including real excellences.
There is no shortage, even this time, of vineyards from the most historic regions of Italian enology that hint at “little gems” under the gavel: if on a local level, the largest number of lots for sale is concentrated in Sicily, with 48 vineyards, followed by Puglia (34) and Tuscany (27), regarding the total value of the assets, in first place is Tuscany, where the 27 lots at auction correspond to a price of 24,589,990 euros, while Sicily falls to third place with a total value of 5,181,529 euros. Apulia falls to position No. 11, with the auction units having a total value of 1,683,411 euros, while in second place we find Umbria, ninth in number of lots at auction (11), but with a significant counter value of 9,267,082 euros. The figure attests to the high quality of Umbrian wine production, which includes such fine grapes as Sagrantino, Sangiovese, Grechetto, Trebbiano Spoletino and Montepulciano among its products.
The ranking sees Tuscany and Umbria in the top two places in terms of value of staggered assets and, a note from Npls Re_Solutions reads, the vineyard with the highest value finished at auction is located in the municipality of Crespina Lorenzana (Pisa): a farm with a total of 484 hectares, 24 of which are used as vineyards, with a value of 11,400,000 euros and a minimum bid at 8,594,625 euros. The extensive wine production includes varietals of Chardonnay, Vermentino, Sangiovese, Cabernet Sauvignon, Syrah, Trebbiano, and Merlot. The second highest-value procedure concerns Perugia, in the Torri district, Purgatorio locality. The property was valued at 10,679,753 euros, however, a succession of unsuccessful auctions, the last of which took place at the end of 2023, has decreased the base auction price to 3,150,000 euros (corresponding to the minimum bid in the last experiment and the base for the next one). This is the full ownership of a modern wine farm with land mostly used as a DOC and IGT vineyard and the rest as an orchard, as well as arable land and forest, with a total area of 34 hectares.
For Massimiliano Morana, CEO Npls Re_Solutions, “analyzing it from a real estate perspective, that involving vineyards is a sector that is as interesting as it is peculiar and challenging. It is an appealing type that can offer profitable investment opportunities, but it requires in-depth knowledge of the wine industry including agricultural practices, winery management and market trends. It is important to consider the specific challenges and characteristics of the industry before committing to this type of investment: the costs associated with running a vineyard, including labor, equipment, phytosanitary treatments and maintenance, can be high”. Morano adds how “Italian wine production must be preserved in every way. The productivity of wineries is closely related primarily to climatic factors and extreme weather conditions that can damage vines and affect the quality and quantity of grapes produced, making it a high-risk activity. There are also strict and complex regulations related to wine production and vineyard management, which can vary greatly from region to region, therefore, a good understanding of local regulations on food safety, labeling, pesticide use and other agricultural practices is necessary. It should be added that the wine industry is highly competitive, with a wide range of wines available on the global market. Buyers are increasingly demanding quality, sustainability and product authenticity, which puts pressure on producers to differentiate themselves and stand out from the competition. Taking advantage of the opportunities offered by the wine sector and meeting its challenges requires skills, resources and a constant focus on management and innovation, making it a market that is as attractive as it is elite”.

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