The JF Tobias November Market Decode has been released, containing all the latest JF Tobias insight and analysis on fine wine market performance. It remains the best independent analysis, and helps our clients to stay up to date with what is happening in the fine wine market, and understand fine wine market performance.
- 12% increase in people looking to sell fine wine, against last month
- Enquiries to sell totalling: £1,643,449 submitted to JF Tobias in the past month
- HK sale share increases by 10%, US decreases by 3%, UK by 1%
- Sterling shows signs of appreciation
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Sterling on a knife-edge ahead of General Election
Buffeted by Brexit and a global economic slowdown, Sterling has had a wild ride in 2019.
Intimately linked with the most dramatic turns in British politics , the sterling exchange rate is the most effective way of scything through rhetoric and understanding real world sentiment. It is also intimately linked to wine prices in the UK; as an export-driven market it has the same barometric effect.
Investors will be carefully watching the polls. should a Conservative majority begin to appear likely, we would expect to see Sterling make quick gains. After such an elongated period of indecision, the certainty of some form of direction would stimulate a short term rally. Whether this is sustained as the Brexit deal is pushed through Parliament and Boris moves to discussions with Brussels, is less clear.
Continued unrest in HK dampens enthusiasm
The protesting in Hong Kong has appeared more subdued this week which has provided a welcome relief for the fine wine market.
This peace, which seems to have been born from general fatigue after the PolyU siege and transformed into genuine calm over the weekend, is key as we head into December. The effects of the protests continue to dampen sentiment, with a bleak outlook for the local economy as the city grapples with a recession caused by six months of increasingly violent protests, a slowing global economy and the US- China trade war.
Greater concern now looms as the U.S and Trump appear to be lightly stoking tensions within Sino-US trade war, using the protests as an effective vehicle. Trump’s signing of new legislation has been recognised by Beijing as belligerent and will certainly not go unanswered, the ensuing posturing will likely see a delay to any progress in the short term.
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At JF Tobias, we pride ourselves on being the best independent port of call in the fine wine market. If you have any questions about the market report, or would like to talk to someone regarding it, please contact us, and a member of the team will be delighted to assist.
