The JF Tobias April 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.
- Marginal 3% decrease in people looking to sell fine wine, against last month
- Enquiries to sell totaling: £1,691,698 submitted to JF Tobias in the past month
- HK sale share recedes 14%, US by 4%, as UK sale share increases by 20%
- Global economic slowdown amidst trade tensions still worries investors
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Brexit Reprieve Offers Little Comfort to Investors
As EU leaders give Britain six months to sort out its departure from the 28-member bloc, the reprieve offers no clarity on when, how, or even if Brexit will happen.
As the knock-on effects of Brexit ripple around the world, they continue to in the fine wine market. Awaiting clarity, prices continue to fall.
At JF Tobias, we expect this trend to continue into the summer, as the reprieve essentially confirms a confirmed timeline of uncertainty in Brexit, amidst no clarity of resolution to the Sino-US trade talks. The marginal decrease in enquiries to sell not representing any real shift in optimism among investors.
En Primeur Steals Focus from Secondary Market
Both HK and US sale share receded last month, 14% and 4% respectively, although this was largely due to attention turning towards En Primeur. Sale share was instead picked up by the UK, making up for several months that have been well below average.
Merchants continue to consolidate stock, as owned-stock positions continue to risk overexposure to a falling market. Tightening financial conditions have meant this concern has plagued merchants and investors alike.
Despite Chinese exports rising 14% year-on-year in March, in a sign the government’s fiscal stimulus is finally biting, uncertainty remains over the amount of concrete progress made in the Sino-US trade war; although there are positive signs that a deal may be close.
First Growth and Top Burgundy Prices Continue to Fall
Trade continues to be sluggish, amidst falling prices led lower by Burgundy and Bordeaux. Increasingly, price-sensitive buyers are looking at undervalued regions and vintages.
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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.
