Back in 1855 a group of Bordeaux merchants at an Exhibition in Paris decided to make some sense of the myriad estate vineyards by classifying them according to which wines consistently sold for the highest prices within the industry. That classification, which ranked wines from premier crus (first growths) to Cinquième crus (fifth growths). Sixty-two among 2,000 vineyards were listed, and, with only a few shufflings over rankings and the addition of Chateau Mouton-Rothschild to the premier crus later on, the top wines have remained the same, still bringing top dollar in the market, along with several great Burdgundies like those from the Romanée-Conti estates. But a just published on-line report by Liv-ex, a London-based global marketplace for the wine trade, where 550 fine wine businesses from around the world buy and sell wine, indicates that several California wines now rank among the top. First published in 2009, the Liv-ex Classification has been updated every two years to reflect the changing conditions of the market, using the 1855 methodology of prices to determine a hierarchy. California wines including Harlan Estate, Colgin, Scarecrow and Screaming Eagle all placed in the first tier, with some rising stars like Opus One Overture, Realm Cellars’ The Bard, Spottswoode’s Cabernet Sauvignon and Ulysses’ Cabernet Sauvignon. To put the report’s findings in perspective, I interviewed Liv-ex’s Director and Head of Sales, Anthony Maxwell. Born in South Africa and brought up in France before moving to the UK when a teenager, Maxwell worked for the Foreign Office in Geneva and the International Federation of Wines and Spirits in Paris. He then worked for John Armit Wines for eight years, running their trading department and private client sales department before joining Liv-ex in 2005. Why do you think this shift away from French (Bordeaux / Burgundy) wines is taking place? Does Covid have anything to do with it? There are probably two reasons for this shift. The first is that the definition of “fine wine” is now broader than it once was. It is no longer limited to just Bordeaux or just French wines, and as a result this has considerably opened up the world of fine wine, especially when other regions can match the French in terms of quality. Another reason is due to buyers searching for greater value and in doing so they are looking to these other regions. That being said, French wines continue to be hugely popular. In some cases, buyers have shifted to Champagne and the Rhône in search of value. Even within Burgundy and Bordeaux themselves, buyers are looking at up-and-coming producers and AOCs where prices aren’t as high. Many of the trends in the Classification pre-date Covid-19. However, this move towards a move diverse market was certainly accelerated.re some French wines pricing themselves out of the market? I don’t think this is necessarily the case.
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