by Wine Owners
Posted on 2016-07-25
It is fair to say that in the recent improvement of fortunes in Bordeaux prices, most focus is given to the classed growths of the Medoc on the Left Bank, and the top wines of Pomerol and St Emilion on the Right Bank. The recovery over the last 12 months has been significant, as seen below, with the Medoc Classed Growth Index (the turquoise line) rising by over 23% and the Libournais Index (purple line) up over 18%. Great news for all those people who have experienced the huge price correction of 2011 to 2014.
But, when looking at Bordeaux as a whole the focus should perhaps swing further south. See what happens when I add the Graves Classed Growth Index (the purple line in the chart, below) into the mix. Over the same time frame the wines of Graves, headlined by Haut Brion and la Mission Haut-Brion, have leapt up by over 30%, outstripping their neighbouring appelations.
Even when you take into account the Brexit effect, which has seen a weak pound in the past month provide a boost from sterling denominated stock as HK and US buyers pile in, this still represents a huge return to form. The lesson here is to realise that the 1855 classification (which ignores Graves, with the notable exception of Haut-Brion) and finest wines north of the Garonne are not the be all and end all. Look south, towards Graves, and you will find a raft of excellent wines that have improved dramatically in the last few years in many instances (think Smith Haut Lafitte, Haut-Bailly, Pape Clement), and which represent both great quality and great value. It is perhaps important that the gravelly, smoky, pencil lead and pencil shaving notes which characterise the best wines of Graves have few, if any, imitations around the world. Bordeaux blends from other continents tend to mimic the Medoc or the Libourne, and so the terroir-specific nature of Graves wines perhaps gives them a uniqueness that collectors ascribe value to in the same way as they do in Burgundy.
Sometimes it pays to take the path less travelled….
by Wine Owners
Posted on 2016-07-21
The past few weeks have seen significant movements and activity within the fine wine market, with the closure of the En Primeur campaigns and the devaluation of sterling kicking the market 4-5% higher.
Whether this situation lasts following the surge remains to be seen, but combined with the upward movement of the market in the preceding few months, and 21 months of increasingly solid gains in the Bordeaux market, it makes for an interesting period.
We've put together our updated set of Fine Wine Predictions for the second half of 2016, including thoughts on the impact of Brexit, tips for collectors, and analysis of buying trends in the market.
We hope you enjoy reading the report, and would love to hear from you if you have any questions, are looking for specific guidance, or want to join the conversation.
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