Piedmont remains one of the fine wine world’s underdogs, but there is increasing focus on the value offered by the region as anticipation grows for the Barolo 2016 vintage releases.
Analysis group Wine Lister reported a surge in demand for Piedmont wines, and particularly for well-established names, following a survey of its ‘founding members’ – including leading figures at 51 companies across Europe, Asia and the Americas – including merchants, retailers and auction houses.
In a preview of its forthcoming report, ‘Piedmont: Treasure Unearthed’, Lister said that many in the trade tipped Piedmont to become a staple of collectors’ cellars in future.
Liv-ex also reported in September 2019 that Piedmont was ‘back in buyers’ sights’, reporting a rising number of trades on its platform and growing interest from US-based buyers.
It said its Piedmont Index had risen by 12% in value since December 2017, outperforming Tuscany.
There has also been speculation that Italian wine regions may become more attractive to collectors in 2020 after avoiding US import tariffs, which have affected Bordeaux and Burgundy.
However, while the very top names like Gaja and Giacomo Conterno command high prices, much of Piedmont remains outside of the mainstream fine wine market.
Liquidity on the secondary market remains a work-in-progress and Wine Lister’s members’ survey suggested that demand for Piedmont wines at auction remains relatively niche.
‘Our analysis confirms that Piedmont remains somewhat of an enigma,’ said Ella Lister, CEO and founder of Wine Lister, in the introduction to the group’s forthcoming report entitled, ‘Piedmont: Treasure Unearthed’.
‘Despite being home to some of the world’s cult estates, the majority of its wines still represent extraordinary value for money,’ she said.
Miles Davis, head of professional portfolio management at Wine Owners, has long been a fan of Piedmont’s potential.
‘In the grand scheme of things, Piedmont is an adolescent and will continue to grow,’ Davis said in a recent Wine Owners blog after visiting the region.
Recent excitement around the Barolo 2016 vintage has only enhanced this feeling.
‘The very loudly heralded 2016 [wines] will be released this year and buyers are waiting to pounce,’ Davis said.