People looking to wine as an investment have an alternative to the usual targets of Bordeaux, Burgundy and Napa – Italy.
The top tier of Italian wine has been enjoying a successful few years, with global average prices rising steadily, while the more traditional hot spots have been either stagnating or going backwards.
It's been a tough year for collectible wine; the Covid-19 pandemic has gutted restaurant sales, uncertain economic times have seen investors go into their shells and trade wars and tariffs have disrupted what was a well-oiled sales and distribution machine. But the pain hasn't been felt evenly among the top wine regions.
Italy has been something of a success story, despite the challenging global picture. Interest in and demand for Italian wine has been growing quietly while other producers are finding the going increasingly tough and this surge in demand for Italian wine is being reflected in prices, but particularly at the top end. Prices for Brunello, Super Tuscans, Barolo and Amarone are seeing healthy rises, but the most expensive wines from these appellations are accelerating away from the rest.
This is in stark contrast to Napa, for example, where price rises across all wines are rising much faster than the top echelon. Bordeaux, meanwhile, is simply stagnating at every level, with a few notable exceptions, like Pomerol and Saint-Émilion.
Oddly enough, it's been quite a while since we've run the list of Italy's most expensive wines – four years, in fact – so there's plenty of changes to note. The list of the currently most expensive Italian wines is below.
The Most Expensive Italian Wines on Wine-Searcher:That list looks quite a bit different than the last time we ran it, which is to be expected given the four-year gap. There are four new entries, but it's the price performance of the others that really draws the eye. Between them, the wines that were available six years ago have increased by an average of 48.9 percent, with the Roagna Barbaresco racking up an astonishing 68.5 percent average price hike. The Conterno Monfortino went up by 60 percent, while the Mascarello Monprivato ballooned by 57 percent.
Even over the past year, the performance has been impressive. While other regions struggled, these 10 wines increased in value by an average of 10.8 percent, with star performers being the Giacosa Rocche di Castiglione, which achieved an increase in its average price of 35.6 percent, the Case Basse with a 23.5 percent rise and the Quintarelli Amarone Selezione with 17.5 percent. Even the relatively poorest performers were moving in the right direction, albeit slowly – the Calvari Refosco and the Mascarello Monprivato managed 1.2 percent and 1.5 percent, respectively in the past 12 months.
And if that sounds a little puny, compare these wines with Bordeaux's First Growths over the same period. Their global average prices have all fallen in the past year and even the top-end Bordeauxs that are going up in price are crawling, relative to the Italians – Petrus is the best performer from Bordeaux's most expensive wines with a 2.66 percent increase since 2019.
In the longer term, the return on Italy's top wines has far outstripped the First Growths – Margaux has been the best of the French performers over the past four years, with a rise in average price of 10.5 percent. The lowest percentage rise among the Italian wines was Quintarelli Amarone Classico Riserva with a still-healthy 9.26 percent increase.
The focus for investors and collectors has been French wine for centuries but, given the Romans brought vines and winemaking to France, it's fitting that finally the focus might be starting to drift back eastward across the Alps.
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June 16, 2020 at 07:00AM
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The World's Most Expensive Italian Wines - Wine-Searcher
"expensive" - Google News
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