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Champagne has dominated the secondary market for fine wines over the past two years. This was announced by the global fine wine trading platform Liv-ex (London International Vintners Exchange). Liv-ex maintains a number of different indices for the price developments of rare wines. The Champagne 50 index has risen by almost 73 per cent over the period, significantly more than the price of gold and most major stock indices.
In September 2022, Champagne accounted for 12.4 per cent of total secondary market trading. This makes Champagne the third most traded region after Bordeaux and Burgundy. 20 years earlier, Champagne's share was two per cent. The average retail price of a case of 12 bottles rose from €2,150 to €3,800 since 2019.
Liv-ex stresses in the report that the luxury goods sector as a whole did particularly well during the Covid-19 pandemic, as prices could be increased without slowing demand. Luxury goods group LVMH, owner of Moët & Chandon, Dom Perignon, Veuve Cliquot and Krug, reported a 28 per cent increase in sales for the first half of 2022. At the same time, Liv-ex warns of a possible imminent slowdown in growth: "A series of strong vintages and market-leading returns have put Champagne in the spotlight in recent years, attracting the interest of an ever-widening range of buyers - both drinkers and investors. However, as prices rise and market momentum continues to build, there are signs that yields may soon weaken," said vice-chairman Justin Gibbs in a statement.
(al / source: harpers.co.uk; photo: 123rf)
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