Fine wine market tops up in 2016 on Brexit boost
The fine wine market has had something of a vintage year, topped up by recovery from Bordeaux and a 'significant' post-Brexit boost buoyed by the drop in the value of the pound, according to new data.
Liv-ex, which operates the global marketplace for the prestigious product, said industry benchmark the Fine Wine 100 increased for an “unprecedented” twelve months in a row to reach its highest level in five years.
Additionally, the Fine Wine 1000, seen as the broadest measure of the market, reached multiple all-time highs this year, while the Bordeaux market recovered, having “flatlined” in 2015 after four years of decline.
Looking ahead, Liv-ex said next year looks set to be “eventful” with the fine wine market broadening but “currency-related clouds on the horizon”.
It added: “Overall the fine wine market appears robust, but as we head into 2017 it remains to be seen whether a year of sustained gains will continue.”