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Rioja fine wine market report

Rioja continues to be a small player in the fine wine secondary market, but demand is steady among collectors and prices continue to offer unbeatable value.

Rioja’s high points in a sedate market

Last year was tough for the fine wine market. The Liv-ex 1000 index, one barometer of secondary market prices, fell 14.9% in 12 months to 31 January, although it was still up by nearly 12% in five years.

Trading has been subdued; however, UK merchant Goedhuis & Co reported consumer interest in the release of Marqués de Murrieta’s highly regarded Castillo Ygay Gran Reserva Especial 2012 at the end of 2023. ‘Despite current conditions, we did see some clients returning to purchase the 2012 release,’ said Goedhuis buyer Nathaniel Frankland.

He pointed out that it’s a strong brand with a loyal following, and that the next vintage (2016) won’t arrive for a few years. There was also some interest in lower riced back vintages, he added.


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