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Fine Wine Market Report: September 2020 Market Decode

The JF Tobias September 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.

  • 7% increase in people looking to sell fine wine, against last month
  • Enquiries to sell totalling: £3,366,355 submitted to JF Tobias in the past month
  • UK sale share increases by 5%, HK increases by 8%

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September Market Decode

Market Performs with Stable Values and Volumes

Following on from an unseasonably busy August, September trade plateaued. Thereby suggesting last month’s price “bounce” was primarily driven by a need amongst UK merchants to put numbers on the board, as opposed to depressed wine prices offering exciting relative value. As such, this month saw prices across all regions and price points stabilize, with only the ultra-top tier continuing to claw back small gains. The total volumes traded remained steady although an exaggerated bias toward Bordeaux persevered.

Last month’s trading serves to further consolidate our previous observation, that this is not a COVID driven price event, but the end of a considerable longer-term correction. With the market now somewhat more settled, we should now consider these prices to be the new baseline from where a new market uptrend could build.

Market Displays Beneficial Lack of Correlation

Another observation drawn from the past month is in relation to the wine markets known lack of correlation to central financial markets. While the worlds markets continued to convulse with volatility and volume, wine has remained steady, but this should be no surprise.

Wine is not impacted in the same rapid way by the ever-changing global matrix of socioeconomic factors. The wine market is ultimately driven by end user consumption and demand for a luxury good. This being a slightly more definite, yet albeit immeasurable force, means price moves are all the more stable. This is why when all other markets crashed in the spring, wine owners lost single figure percentage points not double digits.

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September Market Decode

At JF Tobias, we pride ourselves on being the best independent port of call in the fine wine market. If you have any questions about the market report, or would like to talk to someone regarding it, please contact us, and a member of the team will be delighted to assist.

The Author

Jake Leighton