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Home | Auctions & Fine Wine Market | Liquid Assets 2020 (Q4): Coping with Covid-19: How the fine-wine market is making the best of a tough year Liquid Assets 2020 (Q4): Coping with Covid-19: How the fine-wine market is making the best of a tough year
By Chloe Ashton | March 23 2021
The top lot at Sotheby s Hong Kong sale, July 5, 2020: A Methuselah of DRC Romanée-Conti 1999, sold for HK$2,108,000 / US$271,911. Photography courtesy of Sotheby’s
The Drinks Business
08 February 2021 By James Lawrence
Fine wine digital platform iDealwine has announced a series of ambitious plans for expansion, including doubling its sales revenue over the next five years.
iDealwine’s founders Cyrille Jomand, Angélique de Lencquesaing and Lionel Cuenca
On 26 January, the e-merchant finalised an agreement with venture capital firm Capital Croissance, replacing LM Holding as iDealwine’s principal investor. Capital Croissance will invest an undisclosed sum into the business, to facilitate its growth and diversification.
“We wish to thank LM Holding for its support over the years, and its significant contribution to our strong growth year on year since 2015,” said CEO Cyrille Jomand.
Coping with Covid-19: How the fine-wine market is making the best of a tough year
The World of Fine Wine’s auctions and secondary market correspondent,
Chloe Ashton, takes a look at how the pandemic has continued to have an impact on fine-wine saleroom activity during the third quarter
The fine wine market has become comfortable with uncertainty. Since the glory of autumn 2018, which saw the Liv-ex 1,000 index reach record-breaking heights, turmoil of one kind or another has plagued major markets but the industry and its assets have resisted well.
Exceeding expectations
“Things are less negative than we thought they were going to be,” says Tom Stopford Sackville, CEO of Goedhuis & Co. Speaking to him just before the beginning of the UK’s second lockdown, he nonetheless caveats that as far as London is concerned, while the first stint of staying at home was perhaps a novelty for some customers, who consequently “decided to spoil themselves with nice wines,” the next