October closed as the second most active month of trade by value in the past 10 years. During the month bids rose to their highest level in 14 months. As highlighted this morning, fine wine continues to prove itself as a safe hedge against financial market volatility. Both the Liv-ex Fine Wine 1000 and Fine Wine 100 were up in October, despite continued macro-economic and geo-political headwinds.
American wines were firmly in the spotlight and grew their market share to 10.8% in October, the highest for the region in Liv-ex’s 20-year history. Screaming Eagle, Spotteswoode and Harlan Estate led lead the way.
Bordeaux’s trade share fell again, from 38% in September to 36.2% in October and drifted even further in the first week of November, to 35.2%. Champagne (6.7%) and Italy (18.5%) also saw small declines on the week.
Burgundy (23.0%) grabbed a large share of trade this week, helped along by white Burgundy (7.9%), which has steadily been increasing its market share for three years.
Rhone (3.6%) was cast into the limelight this week with the release of Beaucastel Chateauneuf du Pape 2019.
Others (5.0%) held near its October share, led by Germany (1.4%), Spain (1.4%), Australia (0.30%) and Argentina (0.20%).
