Bordeaux Index reports sales of US$125m in 2020
Fine wine and spirit merchant Bordeaux Index has reported total sales in 2020 of US$125 million (£90.8m), with “strong performances… despite the challenges of the Covid pandemic”.
The results were particularly driven by “the intensity of the buying in Asia”, said founder and CEO Gary Boom, with the merchant seeing a “resurgence” in trade across the region in the second half of the year.
Buying was “frenetic” at the top of the market for top Bordeaux and Burgundy labels among both existing customers and new buyers too.
The merchant also noted a 60% increase in the number of new accounts on its LiveTrade platform, with collectors and investors picking up on the stability of fine wine prices amid the volatility of other assets last year.
Boom commented: “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.
“We enter 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.”