WineFi Weekly

Welcome to the thirteenth edition of WineFi Weekly👋 
📅 June 17th 2024

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The First WineFi Tasting.

On Thursday we were thrilled to host our first tasting alongside Lay & Wheeler. We welcomed a number of customers to a tasting in Mayfair, hosted by the wonderful Steffan Griffiths.

The list of wines was varied and exciting, from South African Chenin Blanc, to German Riesling, and an iconic Super Tuscan in 2011 Tignanello. Read on for some insight into the recent market performance in the world of Super Tuscans.

Stay tuned for the announcement of future tastings!

What’s happening in the wine world?

Market decline is softening

The rate of decline across Liv-ex’s three main indices is slowing. This trend continued in May.

The Liv-ex Fine Wine 100 fell 0.6% in May, closing at 349.73; milder than April’s drop of 1.3%. In March, the index saw its first increase in 12 months.

Looking at the wider market, the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from across the world) declined by 0.6% compared with April’s 0.7% drop. Among its sub-indices, the Rest of the World 60 increased by 0.8%. While the Champagne 50 saw a smoother decline of 0.2% compared to April and March - largely buoyed by high volumes of Dom Perignon being traded.

The Italy 100 saw the steepest decline, falling back by 1.5% following April’s 0.7% increase. The Bordeaux Legends fell back 1.4% after a flat performance in April.

Super Tuscans shining

As mentioned above, the Italy 100 saw a steep decline this month. However, it does seem to be a tale of two halves, or two regions - Tuscany, and everywhere else.

Since the start of the year, the Super Tuscan index has risen 0.5%. By comparison - the rest of the Italian regions that make up the Italy 100 have collectively dropped 2.0%.

If the Liv-ex had a ‘Super Tuscan’ index, it would have been the best performing index this year, by a long way.

These intra-regional nuances must be accounted for when making investment decisions, there are often high performers in a region that is on the whole performing badly, and vice versa.

Source: Liv-ex