The falling demand of Champagne following a “splendid” 2022 is opening up opportunities for buyers at a slightly lower level, French auction platform iDealwine has said, even as the top cuvees still maintain demand. According to figures from the Comité Interprofessionnel du Vin de Champagne (CIVC), champagne sales declined by 9.6% in the 12 months to the end of October as demand slowed down after the two year boost following the lifting of Covid-19 restrictions in 2020. It does however remain higher than figures for pre-Covid year of 2019. The Paris-based auction specialists argued that although the declining macro-economic background – inflation, war in Ukraine and reprisal of Israeli-Palestinian conflict – “weighs on the demand for champagne”, the market for high-end Champagne remained a “dynamic segment”. For example top champagnes are still selling well although the market is not seeing the same bidding wars that marked 2022. Hammer prices have returned to a level comparable to those in 2020 and 2021, suggesting something of a price correction. The prestige cuvées of the most emblematic houses continued to be relatively unaffected, it said, with Dom Pérignon, Krug, and Salon seeing the same dynamic ( iconic grower champagne Jacques Selosse had risen slightly it noted) and recording strong results, while very old vintage champagne and rare cuvées continue to set records. However, there had been price declines at auction on a number of cuvées of Brut Sans Age (BSA), it found. Based on preliminary figures, iDealwine forecast an overall increase in the
This Article was originally published on The Drink Business - Fine Wine
