Piedmont 2016 sparks interest
Excitement surrounding the release of the Barolo 2016 vintage wines has thrust Piedmont further into the market spotlight. Several merchants have reported good initial demand for highly anticipated Barolo 2016 wines, following the first releases.
‘We’ve had a promising start to the campaign from the limited number of producers we’ve offered so far,’ said Alastair Woolmer of Farr Vintners.
‘As some of the more famous (and more expensive) producers release their wines, I’d expect to see demand, and ultimately sales, increase,’ Woolmer commented, adding that he knows of customers who bought fewer
2015 vintage wines to save space for 2016.
Will Hargrove, head of fine wine at Corney & Barrow, told Decanter: ‘Barolo 2016 is certainly something customers are interested in.’
He said that this may also reflect greater interest in northwest Italy in general. ‘Customers have started to follow producers [in Piedmont] as they do in Burgundy,’ he said.
Analysis group Wine Lister recently reported a surge in demand for Piedmont wines globally, following a survey of 51 merchants, retailers and auction houses.
Top names such as Gaja and Giacomo Conterno already command relatively high prices, but many analysts believe Piedmont as a whole is appealing to collectors.
‘The majority of [the region’s] wines still represent extraordinary value for money,’ said Wine Lister co-founder Ella Lister.
Barolo 2016 has been named a potential great, and release prices so far have compared favourably to those of the lauded 2010 vintage.
‘On average, the 2016s are currently trading at a 20% discount to the similarly scored 2010s,’ stated Liv-ex.
Liv-ex also reported rising interest in Piedmont, though the region only makes up a small part of the secondary market.
Read Stephen Brook’s ratings and tasting notes for new-release Piedmont wines (Barolo, Barbaresco and Alto Piemonte) online at Decanter.com/Premium