English wine has officially joined the ranks of world-renowned brands such as Petrus and Dom Perignon, by making a sparkling debut on the market with Sussex fizz Nyetimber.
To mark the beginning of August, Nyetimber traded a six-bottle case of their Classic Cuvée – England’s most famous name in sparkling wine and the first ever to trade on the global marketplace for buyers and sellers of the world’s finest wines.
The fizz earned its fame when it’s 1993 vintage was awarded the IWSC trophy for best sparkling wine in the world – only the brand’s second ever harvest.
The 2010 traded on Monday for £120 in bond, representing a wholesale price of £20 per bottle before tax.
A broadening market for fine wine
The first English sparkling wine to be traded on Liv-ex will join the category of “Rest of World” wines, a slice of the market that has been steadily increasing in recent years.
With the global fine wine market growing exponentially, not to mention the possible effects of Brexit and global warming in the not-so-distant future, this category may eventually need some re-thinking.
Currently, in descending order of value, “Rest of World” wines are those from:
- The US
- South of France
- South Africa
- New Zealand
Bordeaux wines reign supreme
Of course, Bordeaux wines still dominate the market and will do for years to come. According to Liv-ex, trade in Bordeaux in 2016 accounted for 74.6% of total activity on the exchange by value.
The most traded labels so far this year have been First Growths Lafite Rothschild, Mouton Rothschild and Haut Brion.
Chapel Down joins luxury collectible exchange group
Last week another development reinforced Britain’s position in the market for luxury fizz – Walpole, Britain’s luxury exchange group, invited English winemaker Chapel Down to become a member.
Nyetimber is already a member of the prestigious group, a collection of 170 of the UK’s leading luxury brands – motor cars such as Rolls Royce and Aston Martin, fashion houses like Alexander McQueen and Mulberry, silversmiths and jewelers, upmarket department stores, gunsmiths, furniture makers and venues such as Ascot Racecourse and the Guards Polo Club (whose latest year book featured a full-page spread on Capital Vintners!).
The two English wine brands above join other industry names at Walpole such as Laurent-Perrier, Sumaridge Wine Estates, Chivas Brothers, Glenmorangie, Diageo Reserve Brands Group and William Grant & Sons.