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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

United statesHong kongUnited kingdomPernand vergelessesCity ofFrance generalJoseph lauGiles cooperGeorgina crawleyJeff zachariaHenri jayer richebourgStephen browettKaty keatingEnoteca pinchiorriChloe ashtonJustin gibbs