Wine investment: Top Champagnes in demand

Opus One rounds up autumn campaign Opus One and Masseto were among the famous names launching their new vintages via La Place de Bordeaux in September . Opus One 2021 was released at €250 a bottle on an ex-Bordeaux négociant basis and offered by international merchants at £3,000 (12x75cl in bond), said Liv-ex, a global marketplace for the trade. No Opus One 2020 was released, due to wildfires affecting that year's harvest. Masseto 2021 was released at €465 per bottle ex-négociant, flat on the 2020-vintage release price, said Liv-ex . Consultancy group Wine Lister commented: ‘Coming onto the market below [the price of] all recent vintages, this is a well-judged release from Opus One in tricky market conditions.’ [subscriber-content]Matthew O’Connell, CEO of the LiveTrade online trading platform at international merchant Bordeaux Index , said: ‘Opus One has a pretty clear demand pool that’s consistent. Masseto [2021] has a 100-point score and I think was well-received in that context.’ Thomas Parker MW, buyer at merchant Farr Vintners, said: ‘Masseto will work on allocation as it has a following and the volumes are small.’ Fellow Super Tuscan Solaia 2021 was also released with high ratings. Liv-ex said a recommended of £3,240 (12x75cl in bond) made it one of the most expensive recent vintages of the wine. There was general caution among some merchants regarding the wider September releases campaign. The wine market remained sedate, and the Liv-ex 100 index – one barometer of prices – lost 9.5% in value in 12 months to 31 August. Naples Winter Wine Festival 2025: Programme announced A star-studded roster of wineries will participate in the 25th anniversary edition of the Naples Winter Wine Festival (NWWF) in Florida in January 2025, organisers have revealed. The annual charity event’s ‘honoured vintners’ for 2025 will be Count Louis-Michel and Countess Constance Liger-Belair, owners of Burgundy’s Domaine du Comte Liger- Belair, said the Naples Children & Education Foundation. Other participating wineries include Bordeaux’s Petrus and Château Léoville Las Cases, Italy’s Antinori and Gaja, Spain’s Dominio de Pingus, California’s Colgin and Oregon’s Domaine Serene – to name but a few. NWWF 2025, running over the weekend 24-26 January, will include winemaker dinners across Naples, plus tastings and cuisine by award-winning chefs, as well as the traditional live auction featuring luxury lots and experiences. Ticket packages start at $17,500 per couple. Click here for more information. Top Champagnes in demand Prestige Champagne’s long-term price growth has continued to outweigh recent declines, although the current market picture is mixed. Top Champagne cuvées benefited particularly strongly from a fine wine market boom between 2020 and 2022. Secondary market prices have since retreated, with Champagne faring worse than several other regions. However, top-tier Champagne prices were still up 41% over five years, as shown by data from the LiveTrade online trading platform at international merchant Bordeaux Index (see table, below). It’s a similar picture at Liv-ex, a global marketplace for the trade. Its Champagne 50 index fell 23% over two years to 31 August, but was up 39.5% over five years. Matthew O’Connell, CEO of Bordeaux Index’s LiveTrade, said prestige Champagne had further price growth potential on the secondary market due to its still-expanding global audience and ‘sky high’ quality. ‘I believe there’s an opportunity, in that prices won’t remain low like this in perpetuity,’ he said. He also highlighted 2004 and 2006 as middle-aged vintages that have perhaps been under-appreciated. ‘Those wines will not be at those prices for that long. And they’re excellent.’ LiveTrade data showed 2004-vintage Dom Pérignon, Bollinger Grande Année, Philipponnat Clos des Goisses and Taittinger Comtes de Champagne have risen strongly in price post-release, but were still cheaper than the same wines from the highly rated class of 2002. Justin Gibbs, co-founder and exchange director at Liv-ex, said the overall wine market remained subdued. Some recently launched vintage Champagnes have lost value post-release, but older vintages – from 2008 and back – were beginning to look more solid. Gibbs said Taittinger Comtes de Champagne 2006 was around £1,200 on Liv-ex (12x75cl in bond), and has been flat for 12 months. ‘People have [said], “at that price, I’m acquiring it”.’ The wine was about £800 in early 2020 and hit £1,900 in 2022, before dropping back. Some merchants reported ongoing strong demand for top-end Champagnes. Shaun Bishop, CEO of California-based JJ Buckley, said: ‘While prices of prestige Champagne have fallen over the past year, we’ve never seen more demand, which is currently at an all-time high.’ The Bordeaux Index view Fine wine & spirits specialist Bordeaux Index kindly sponsors this section of Decanter , and provides its view on the market here every issue. It can be found at bordeauxindex.com . Champagne is perhaps the most interesting embodiment of the fine market pattern across the last three years. Broad perceptions are that the region is struggling price-wise, yet it is at the same time very difficult to find a Champagne that is cheaper than its 2021 price – and therefore the vast majority of collectors and investors own wines which are worth more than they paid for them – a clearly positive fact that will strengthen the region over the coming years. There are two noteworthy current dynamics. Firstly, we have seen a number of release prices which are above the price of current (equal or better quality) vintages on the market – something which is never a good underpinning for demand and future price growth. Secondly, there has been a surprising flattening of the price curve such that semi-mature vintages (2002/2004/2006) are looking particularly good value, especially when one considers their greater rarity on the market. Given our expectation that the lower price levels of the last 12-18 months will not persist for too long, it is clearly a good time for buyers to own these vintages in particular. [/subscriber-content] [breakout] Disclaimer: Decanter's Marketwatch pages are published for informational purposes only and do not constitute investment advice. Wine prices may vary and they can go down as well as up. Seek independent advice where necessary and be aware that wine investment is unregulated in several markets, including the UK. 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