Fine-wine trader Bordeaux Index of London and Hong Kong regularly send out reports on the fine-wine market. Until recently, they have been relentlessly, almost hyperbolically, upbeat but now they are having to grapple with and interpret a new direction in fine-wine prices…
Further comments from our Purple pagers can be found on the forum.
Below are the main points made in their report of today:
- Third quarter wine prices fell 7.5%
- Softer prices are NOT proof of a 'bubble bursting' as turnover rises nearly 30% [got that?]
- Weaker Bordeaux prices are proof of the market diversifying [obviously not]
- Buyers are rejecting expensive 'hyped up' newer vintages [who would have done the hyping then, I wonder?]
- Rare Burgundy wine is proving popular with Asian buyers and DRC may end up becoming 'the new Lafite' in China [groan]
- Buyers are focusing on buying in larger formats.
