Bordeaux Index sales top $125m

By Lisa Riley

Published: 12 January, 2021

Fine wine and spirits merchant Bordeaux Index has recorded over $125m in total sales in 2020.

The business said it had seen a “strong performance” across products in 2020 despite the challenges of the Covid-19 pandemic.

Besides a smaller En Primeur campaign given the limited release volumes from Bordeaux chateaux, there were material gains on 2019 in terms of physical wine and spirits sales, aided by a resurgence of pan-Asian trade in the second half of the year, it added.

The business, which claims to be the largest seller of fine wine in Asia, said it had benefited from “this demand dynamic”, with activity particularly frenetic at the top of the Bordeaux and Burgundy markets across existing but also significant new buyers.

Gary Boom, founder & CEO, said: “It was exciting to see a step-up in physical wine and spirits activity last year despite the challenges presented by the global pandemic – indeed we were particularly encouraged by the intensity of the buying in Asia and also the renewed focus on wine as an uncorrelated and capital-preserving alternative asset, which really benefited volumes on our LiveTrade online platform.

Looking to 2021, Boom said Bordeaux Index entered 2021 with “a very positive outlook on the market, where we think Bordeaux has the chance to test new highs - the significant refocusing on the region is very clear to us already in the activity we are seeing”.

In terms of wine prices, the company said they had been “notable for their stability in the face of the volatility seen in other assets across the middle of the year, something not lost on collectors and investors”.

“We saw a 60% increase in new account openings for our LiveTrade online wine trading platform, the most active exchange of its kind in the marketplace.”

Given the momentum seen at the back end of the year, and also possible tailwinds from developments such as the potential removal of US trade tariffs, the merchant is bullish on Bordeaux prices in 2021, already noting a clear perception of dwindling supply onto its LiveTrade platform at prevailing market prices, it concluded.