Wine Investment Market Report October 2020

2020-11-12

Miles Davis, Wine Owners November 2020

There is not much to report on for October. The market continues to be very steady, gently rising in fact, and lacking in volatility – we are leaving that for the traditional asset classes and for those with a strong constitution!

The Covid related news had been sending shivers down the spines of stock markets as we here in the UK were heading into our second full lockdown of the year, only for that to turn around swiftly on the good news on vaccines.

The platform was busy in October, however, with good demand from Asia. Bordeaux indices have even been positive although overall market share remains weak. Sterling had been a little weaker during the month and this normally speedily converts into demand for Bordeaux blue chips from Asia. We have seen continued demand for Italian wines and Champagne with red Burgundy more mixed. Top end white Burgundy priced sensibly soon disappears from the platform and liquidity in this sector is perhaps stronger than it has ever been.

Champagne is the focus of the month and there could even be unprecedented Christmas demand this year if lockdowns ease and families and friends are once again allowed to socialise!

The recent release of Taittinger’s Comtes de Champagne 2008, which receives a fabulous write up from William Kelley of the Wine Advocate and 98 points, was met with great interest. There’s plenty of supply right now but given time there is plenty of room for price upside given the level of the ’02 now. Here is the relative value chart:

Wine Owners - Taittinger Comtes de Champagne Relative Value Analysis - October 2020

Obviously ’06 is the cheapest here but that, nor the ’04 vintage, quite carries the same stature of the fabulous ’02 and ’08 vintages. Having said that and given the quality of the juice we are talking about, Relative Value Scores at 30 or above look good in any book!

Generally speaking, I like the lower production levels of Pol Roger’s Winston Churchill Cuvée. In fine wine terms, Dom Perignon and Cristal produce vast quantities but are truly international brands and therefore trade at premiums to other names. Comtes falls somewhere in between.

Here are some price and point comparisons of the names discussed here, from really good to excellent vintages.

Overall, I would not put anybody off buying these wonderful wines for the medium to long term, they have years of life ahead and plenty of upside potential as they become rarer and rarer – and more golden!

	Vintage	Price	WA Score	Price/Point (WA)	VINOUS Score	Price/Point (VINOUS)
Dom Perignon Champagne	2002	£127	96	1.32	97	1.31
Dom Perignon Champagne	2004	£107	92	1.16	95	1.13
Dom Perignon Champagne	2006	£108	96	1.13	95	1.14
Dom Perignon Champagne	2008	£110	95.5	1.15	98	1.12

Louis Roederer Cristal Brut	2002	£213	98	2.17	94	2.27
Louis Roederer Cristal Brut	2004	£160	97	1.65	96	1.67
Louis Roederer Cristal Brut	2006	£130	95	1.37	95	1.37
Louis Roederer Cristal Brut	2008	£158	97	1.63	98	1.61

Pol Roger Cuvee Sir Winston Churchill	2002	£167	96	1.74	96	1.74
Pol Roger Cuvee Sir Winston Churchill	2004	£127	95.5	1.33	93	1.37
Pol Roger Cuvee Sir Winston Churchill	2006	£117	95	1.23	96	1.22
Pol Roger Cuvee Sir Winston Churchill	2008	£140	97	1.44	95.5	1.47

Taittinger Comtes Champagne Blanc de Blancs	2002	£166	98	1.7	97	1.71
Taittinger Comtes Champagne Blanc de Blancs	2004	£96	96	1	96	1
Taittinger Comtes Champagne Blanc de Blancs	2006	£73	96	0.76	95	0.77
Taittinger Comtes Champagne Blanc de Blancs	2008	£117	98	1.19	96	1.22

Posted in:
Tags: fine wine, fine wine analysis, fine wine investment, fine wine market, wine investment, Wine Owners,

Value, track and trade fine wine

Sign up for a free Wine Owners account or go premium. No commitment. No credit card required. View all subscription plans.

Subscribe to The Collector

Get market insight delivered directly to your mailbox by subscribing to our newsletter.