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Home | Auctions & Fine Wine Market | Liquid Assets 2021 Q1: A year to forget ends with the fine-wine trade embarking on the slow road to recovery Liquid Assets 2021 Q1: A year to forget ends with the fine-wine trade embarking on the slow road to recovery
By Chloe Ashton | March 18 2021
2020’s most expensive lot: DRC 1985 in 6-liter Methuselahs sold through Baghera for $1,009,350. Photography courtesy of Baghera
The World of Fine Wine ’s auctions and secondary market correspondent,
Decanter
Super Tuscan estate Ornellaia has released its 2018 vintage, with one merchant praising the sensible pricing.
Decanter critics Jane Anson and Aldo Fiordelli both recently
As a pricing guide, the latest vintage of Ornellaia’s flagship wine was being offered at £800 per six bottles in bond by UK merchants Fine & Rare and Goedhuis & Co this morning (1 April).
That is below an ex-London release price for Ornellaia 2017 of £1,800 per 12 bottles in bond, as quoted by Liv-ex. Current market prices for the 2017 varied. Bordeaux Index was selling six bottles in bond for £765, for instance, with Farr Vintners selling 12 bottles in bond for £1,640.
A year to forget ends with the fine-wine trade embarking on the slow road to recovery
The World of Fine Wine’s auctions and secondary market correspondent,
Chloe Ashton, finds cause for cautious optimism after the first 12 difficult months of Covid-19
Against a frightening global backdrop, fine-wine prices managed to climb in 2020. While an uphill struggle logistically, with merchants navigating digital adaptation as well as licking old wounds (Brexit uncertainty, US tariffs, Hong Kong’s political instability), heightened interest and activity from collectors propped up the market, finally ending an historic year with positive gains.
Liv-ex indices show that the market did stumble at the initial, global impact of Covid-19 the Liv-ex 50, comprising Bordeaux first growths, dropped 3 percent in the first quarter of the year (fig.1). “Fear began to set in as sales for Chinese New Year were drastically down on previous years,” explains Justin Gibbs, Co-founder and Director of