Some of the most renowned fine wine names that have ridden the wave of the past few years, gave back “a significant portion” of those gains in 2023, new research by Cult Wines has said. According to the company, only 12 of the most searched-for wines on wine-searcher.com across the last 30 vintages posted positive price appreciation from January 1st, 2023, to December 31st, 2023. Meanwhile, almost 90% of the wines in its 2,700-strong list saw average price decreases, with a quarter experiencing average price drops of more than -10%. However, it did note that despite the “poor” performance in 2023, over a longer timeframe of three and five years, all bar two of the wines showed positive returns. The average price change over the three year period was +30.3%, it said, or +42.5% over the five-year period. “This suggests that performance over a longer time frame is still in line with the long-term trend,” it noted. “This could be positive news for investors and new entrants into the market, as it implies that some of the market’s excesses have dissipated, bringing prices back in line with the historical trend.” The wines that had previously performed the best were the ones that experienced the most significant price decreases, it showed, with standout performers of the last few years such as Burgundy and Champagne now at the bottom of the rankings, down -15% and -8% respectively – even though they both fared well in the longer-term. Burgundy for example showed the
This Article was originally published on The Drink Business - Fine Wine
