Time ripe for alternative regions
Below-the-radar wines in regions such as Piedmont, Tuscany and the Rhône could be worth a closer look early in 2020, as top-end Bordeaux and Burgundy hit turbulence.
Italian wines with high scores ‘continue to offer buyers lower-cost access into the fine wine market’, said a recent Liv-ex report.
Current weakness in the overall fine wine market, principally affecting top Bordeaux and Burgundy, may offer collectors an opportune moment to examine some of the sector’s underdog regions.
‘We’ve been watching Piedmont quite closely,’ said Miles Davis of Wine Owners cellar management and trading platform.
He said there was ‘plenty to go at’ beyond high-profile names such as Giacomo Conterno or Gaja, but that collectors will still need to do their research.
Piedmont prices have largely been solid rather than showing huge gains, said Davis. Prices might climb more sharply if Asia-based buyers became more interested, he added.
Liv-ex has reported signs of broader secondary market trading on Italian wines.
The 2019 Liv-ex ‘classification’ included 39 Italian wines, of which 30 were new entrants. The ranking puts wines traded on the Liv-ex platform into five price tiers, and is updated every two years.
Ella Lister, founder of analysis group Wine Lister, recommended a trip to Tuscany. ‘Our “must buy” list is brimming with underappreciated Tuscan gems, such as Chianti Classico,’ she said. ‘In France, the Rhône, too, is an underrated source for high-quality wines at lower prices than [those of] competing fine wine regions, particularly for older vintages.’
Looking longer-term, Russ Mann, CEO of US-based online auction house WineBid, said the Pacific Northwest could be one to watch: ‘Particularly Washington and Oregon wines in the $50-plus range, which have started to attain ratings of 90 points and more. This may be a great opportunity to buy undervalued wines that have real appreciation value.’