It is the first time a Spanish producer has ever secured top spot in the highly anticipated Power 100 rankings from Liv-ex, a global marketplace for fine wine traders.
Burgundy normally reigns supreme on this list. Domaine Leroy took the crown in 2020, 2021 and 2022, and Domaine Leflaive then topped the list in 2023.
However, it has been a ‘gruelling year for the fine wine market’ and ‘Burgundy has fared badly’, according to Liv-ex. Bordeaux has also struggled, and there are no French producers in this year’s top three.
Vega Sicilia leads the power rankings after trade volumes increased by 324% and value shot up by 310%. ‘With considerable heritage – it was first produced in 1915 – and still representing good value, it is unlikely to be a flash in the pan,’ said Liv-ex.
Italian producer Gaja took the runner-up spot. The brand was 38th in the 2022 list and seventh in 2023, so it has been building up momentum in recent years. Liv-ex said that Gaja has been ‘carefully and consistently built up over decades’ and ‘is well known and trusted’.
Another Italian brand, San Guido, climbed 54 places to finish third on the list. ‘Produced in decent volumes, with relatively consistent release prices, and, in the scheme of things, affordable trade prices, it represents a safe bet in a down market,’ said Liv-ex. ‘It is a wine that can be bought in high volumes and, crucially, drunk without too much concern as to whether one should
