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May 30, 2022 View:

Italian wine secondary market trading to reach historic levels by 2020

LIV-EX (London International Wine Exchange), a leading international wine exchange, reports that secondary market trading of Italian wines, in terms of both volume and value, has reached historic levels this year, with the value of transactions this year already exceeding that of all of 2019.

Image courtesy of: Italian Wine Channel

On the morning of August 25 local time, Liv-ex said that so far this year, Italian wines have surpassed 2019 in terms of trading volume, and that the volume will soon surpass last year"s figures as well.

At the forefront of an increasingly widespread market for collectible fine wines, Italian wines have been on a steady rise for some time now, with Liv-ex reporting last year that the number of fine Italian wines traded on its platform had increased by 1,500 percent over the past decade. At that time, the value of Italian wines traded on the secondary market was growing at a compound annual growth rate of 9%.

And the number is still on the rise. From January to July this year, the number of Italian wines with the LWIN11 identifier (LWIN11 is an 11-digit code representing wines and vintages) increased by 153.6%, and the value of Italian wine traded in the first seven months of 2020 also increased by 70%.

Demand for Barolo Barolo, Brunello di Montalcino Brunello and Chianti Classico Classic Schoenstatt has been by far the highest, and they have all grown by more than 300% so far this year. In addition, for the first time, the combined trade value of Barolo Barolo and Barbaresco Barbaresco surpassed that of Super Tuscans Super Tuscans, which had previously dominated the Italian trade.

Giacomo Conterno, Barolo Riserva Monfortino 2013 - The 2013 vintage of Produttori Conterno Barolo Riserva Monfortino (pictured below, far left) was the leader in the first seven months of the year, well ahead of Sassicaia 2017 2017 vintage Sisigia in second place. The most traded wine was Produttori Barbaresco, Barbaresco 2016 2016 vintage Produttori Barbaresco dry red wine. This is the first time that two Piedmont Piedmont wines have received these accolades.

The home of super Tuscan wines, Bolgheri Bulgari and Toscana Toscana have not yet completely fallen out of fashion. It's just that after several years of sustained growth, their progress is no longer explosive. For example, the Italy 100 is up 2.3% year to date and 4.2% for the one-year period, which is the second best performing index on Liv-ex over the two periods. To date, Super Tuscany is up 4.2% year to date, with a full-year estimate of 8.8% growth.

As Liv-ex points out, thanks to the 25% tariff exemption in the U.S. on EU wines containing less than 14% alcohol; the better value for money of Italian wines compared to Bordeaux and Burgundy; and the recent series of excellent vintage performances in 2015, 2016 and 2017, all contributed significantly to the development. There are few signs of headwinds for Italy, and the country is sure to continue to be in the world spotlight as the years go by.