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Liv-ex, all indexes return to growth in September 2022. Tuscans push Italy 100 to +1.9%

Weak pound sends US investments soaring: the Liv-ex Fine Wine 1000 scores +2.1%. Tignanello 2018 among top-performing labels
Antinori’s 2018 Tignanello among the best-performing wines on the Liv-ex in September 2022

The Liv-ex Fine Wine 1000, i.e., the index that more broadly analyzes the performance of the fine wine secondary market, and which brings together the seven regional Liv-ex indices (Bordeaux 500, Bordeaux Legends 40, Burgundy 150, Champagne 50, Rhone 100, Italy 100 and Rest of the World 60) by analyzing the trading activity of 600 wine merchants, closed September 2022 with 2.1% growth, after an essentially stable August.
Also doing well is the Liv-ex 100, the index that tracks the price trends of the 100 finest fine wines on the market - which includes Barolo 2016 Bartolo Mascarello, Barolo Monvigliero 2016 Comm. G.B. Burlotto, Barbaresco 2018 Gaja, Barolo Monfortino Riserva 2014 and 2013 Giacomo Conterno, Masseto 2016 and 2017, Ornellaia 2018, Brunello di Montalcino Poggio di Sotto 2016, Sassicaia 2016, 2017 and 2018, Solaia 2018, Soldera Case Basse 100% Sangiovese and Tignanello 2016 and 2018 - which marks a positive rebound of +1.9%, largely nullifying the small decline in July 2022 (-0.3%), the first since June 2020.
More restrained is the growth in the Liv-ex 50, which instead analyzes the movements of the last ten vintages on the market of Bordeaux’s five Premier Crus (Château Haut-Brion. Château Lafite-Rothschild, Château Latour, Château Mouton Rothschild and Château Margaux): +1.5%. Leading the growth, even more appreciably than seen in August, is again the U.S. market, which is taking advantage of the strong dollar-never before has the pound traded at $1.07, and the ratio to the euro is essentially parity-to invest affordably in fine wine.
Closing in broadly positive territory is Italy 100 - which includes the last ten vintages on the market of Barbaresco Gaja (2008-2017), Sorì San Lorenzo Gaja (2007-2017, except 2012), Sperss Gaja (2006-2016, except 2012), Barolo Riserva Monfortino Giacomo Conterno (2000-2014, except 2003, 2007, 2011 and 2012), Masseto (2008-2017), Ornellaia (2008-2017), Sassicaia (2008-2017), Solaia (2008-2017), Sangiovese di Toscana Soldera - Case Basse (2006-2015) and Tignanello (2008-2017) - which, as of September 2022, grew by 2.4%, and since the beginning of the year by 9.1%, for a market share that is back to close to 10% of trade by value (and 11.8% since the beginning of the year), after the August slump, when Italian fine wines were worth just under 8% of the total traded on Liv-ex, but still far from the 15.4% reached in 2021.
Fundamental, in the Italy 100, is the contribution of Tuscan labels, which account for 57.7% of trade, with Super Tuscans leading the way. Better do, since the beginning of the year, fine wines from Burgundy, Champagne and Rhone: Burgundy 150 in the first 9 months of 2022 grew by 27.6%, Champagne 50 by 22.3% and Rhone 100 by 10.5%. Slower than that of Italy was the growth of Bordeaux 500 (+6.5%) and Bordeaux Legends 40 (+7.6%).
Among the top five best-performing labels in September 2022 is an Italian: Marchesi Antinori’s Tignanello 2018, whose price per case (of 12 bottles) grew +7.1% to £1,352. At the top, however, stands Château Figeac, a Saint-Emilion label that marked a 12.8% increase in the price of the 2015 vintage to £2,323, mainly due to its promotion to Premier Grand Cru Classé “A” a few weeks ago. Also doing well were Domaine de la Romanée-Conti’s Richbourg Grand Cru 2017 (+12.5%, to £43,334 per case), Napa Valley label Dominus, with the 2018 improving by +8.6% (£3,190), and Armand Roussesau’s Chambertin 2018 (+6.6%, to £34,193 per case).

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