The JF Tobias January Market Decode has been released, containing all the latest JF Tobias insight and analysis on fine wine market performance. It remains the best independent analysis, and helps our clients to stay up to date with what is happening in the fine wine market, and understand fine wine market performance.
- 32% increase in people looking to sell fine wine, against last month
- Enquiries to sell totalling: £1,412,239 submitted to JF Tobias in the past month
- UK sale share increases by 9%, HK decreases by 14%
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Sterling set to continue on the front foot
More ominous is the Bank of England’s decision to keep interest rates unchanged at their January 30 meeting. The reason: they saw early signs that the UK economy was picking up fresh momentum in the wake of the December 12 General Election, and expect further recovery in near-term growth amidst reduced Brexit uncertainties and expectations for a fiscal boost to the economy in the forthcoming March budget.
Should Sterling continue on the front foot, which looks likely given the period of transition in place, the UK fine wine market is set to shed further percentages—significant upside in Sterling means significant downside in prices across the short to medium-term.
Despite positive start to 2020, coronavirus tests market sentiment
Trade from the East this month began very positively. Tensions in Hong Kong appeared to have peaked, and the penning of a preliminary US-China trade agreement saw merchants returning to business with money to spend.
Overall value and volume even began to look like it may help put the brakes on a falling market. However, this week’s coronavirus outbreak has, understandably, stunted what looked to be a revival in Eastern appetite. A retracement of any growing currency advantage and the change of priorities to market participants has impacted trade.
With $200 billion wiped from European stocks at the start of the week, the deadly coronavirus has prompted investors to cut back exposure to companies with a strong presence in China, the world’s fastest-growing consumer market. Prices are likely to be tested further, as the market remains China-centric.
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