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iDealwine Auction Barometer: What’s Trending in Fine Wine in 2024?

Global leader in online fine wine auctions and specialist online wine store, iDealwine recently published its annual Barometer. In 180 pages, this publication analyses the fine wine auction market and delves into the latest trends in fine wine. With an in-depth look at 13 wine regions and a list of rising star producers in each one, the Barometer is an invaluable resource for serious wine enthusiasts.

Softening Prices in Fine Wine – Almost Across the Board

The data derived from 222,284 bottles sold in 48 auctions on iDealwine.com in 2023 has allowed the fine wine auctioneer to once again examine where prices have gone up and down and which bottles provoked bidding wars to establish data-driven trends in fine wine. Overall, 2023 is marked by softening prices, and the huge surge in prices during the first part of 2022 (up to September) was largely corrected in 2023, with prices returning to more moderate levels. The average price fetched at auction was €152 in 2023, down 22% from 2022’s €192. Hammer prices range vastly from €1 to €22,912 per bottle, the latter for a bottle of 2015 DRC Romanée-Conti.

While major French wine regions Bordeaux, Burgundy, and the Rhône Valley account for the bulk of sales (73% of volume sold, 81% in value), more under-the-radar regions such as Jura, Savoie, Corsica, Provence and Languedoc are more and more sought after at auction. iDealwine’s Barometer contains a detailed breakdown of price trends in 15 French wine regions. With 1 in 3 wines auctioned in France sold through iDealwine, it is well placed as a leading authority on French wine fine.

With increasing demand for fine wine made beyond French borders, the Barometer also contains an in-depth analysis of Italian fine wine and global fine wine. For every wine region, iDealwine names the producers on their watchlist in 2024.

The highest-priced wines of 2023 (taxes and fees included)

  • Most-sought after at auction: Domaine de la Romanée-Conti – 388 bottles went under the hammer (stable) fetching €1.5million (£1.25m) or an average price of €3,911 (£3,350) per standard bottle (down 15%).
  • Highest-price lot: 6 magnums of Petrus 1982 – €43,820 (£37,543)
  • Highest-price bottle: 1 bottle of DRC Romanée-Conti 2015 – €22,912
iDealwine Auction Barometer: What’s Trending in Fine Wine in 2024? The highest-priced wines of 2023 and 6 Major trends.
Ph. iDealwine
  • A significant price drop for the Big Eight

Rayas, Leroy, Auvenay, Rousseau, Roumier, Bizot, Lachaux, and Grange des Pères are the eight most sought-after estates at auction. Softening prices are less indicative of a fall in demand for blue-chip bottles and more the result of a highly charged global geo-political situation, rising interest rates, and other unfavourable macroeconomic factors that left many would-be bidders highly price sensitive at auction. The price drop is consistent with pre-pandemic prices, or at least those recorded in early 2021, which is why we can refer to a “price correction” in Burgundy.

  • Burgundy remains the most-coveted wine region, but its grip has loosened slightly

In 2023, Burgundy captured 40% of all auction sales on iDealwine (remember the region produces just 3% of France’s wine) and is therefore the most-coveted wine region at auction, despite a 5% drop from the previous year. In terms of sales volume, Burgundy captured 24.7% of the volume auctioned, behind Bordeaux. Prices in Burgundy, which had surged in 2022, dropped 35% in the past year. iDealwine expects bidders to take advantage of lower Burgundy prices in 2024.

  • Mature Vintage Bordeaux in demand

Buoyed by the success of mature vintages (75% of top bottles sold were pre-2010 vintages, a trend unique to the region), Bordeaux sales increased by 2%, no small achievement in a softening market and widespread industry “Bordeaux bashing”. Although the average bottle price dropped 7%, this decrease was far less dramatic than in other French regions such as Burgundy (-35%) and Champagne (-20%). Bordeaux remains a solid long-term investment, eschewing passing trends that may encourage speculation in other regions, continuing to be considered a safe bet at auction.

iDealwine Auction Barometer: What’s Trending in Fine Wine in 2024? The highest-priced wines of 2023 and 6 Major trends.
Ph. iDealwine
  • Rarity surges prices

Rarity is the common denominator when it comes to the wines and producers that witnessed soaring prices in 2023. Most widespread in wines produced by now deceased winemakers, this phenomenon is also evident in micro-production estates (and micro-négociants), very old vintages, and shuttered estates no longer in production.

  • Cult winemakers in under-the-radar regions drive up demand

Even though fine wine prices slumped in general, and even though less famous wine regions (outside of Burgundy, Bordeaux, Rhone, Champagne) accounted for just 13% of hammer prices, these are the regions where demand is growing most: prices rose in Alsace, Savoie, and Corsica.

  • The organic trend is here to stay

The share of organic/biodynamic sold at auction continues to rise, this time from 25% to 28.5%, while the share of natural wines remained stable at around 6.5%. The wines that fetch the highest prices at auction (Domaine de la Romanée-Conti, d’Auvenay, Leroy, Leflaive) tend to be organic and/or biodynamic, some also labelled natural wine (Bizot, Selosse).

iDealwine Auction Barometer: What’s Trending in Fine Wine in 2024? The highest-priced wines of 2023 and 6 Major trends.
Ph. iDealwine

About iDealwine: accelerating the digital wine revolution

Founded in 2000, iDealwine is the global online leader in fine wine auctions and France’s no1 wine auctioneer for six consecutive years. With its headquarters in Paris, and offices in Bordeaux, Beaune, and Hong Kong, iDealwine is trusted by 650,000 wine lovers in 60+ countries for buying and selling wine.

In addition to the rare wines for sale at auction, iDealwine also offers a vast selection available at fixed price. This selection is continuously growing, with wines sourced directly from a network of over 900 partner domains and a range of old vintages bought from private cellars. iDealwine has also established a reputation for excellence in wine market analysis, through its annual Barometer publication.

The data, drawn from 220,000+ auctioned bottles, allows iDealwine to identify trends almost as they happen. The Barometer is an exhaustive guide to the most sought-after wines, top bids, and fine wine trends, a must have for wine lovers, investors, and collectors. iDealwine ships worldwide, including to the UK, USA, Hong Kong, Singapore, and most recently, to Australia.