Champagne has certainly been having a star run over the last 18 months. While the most highly sought-after wines are not easy to secure, today we have an excellent parcel of investable Champagne to offer, following on from yesterday’s Dom Perignon release. We know we do not need to labour the point, as any of the below would be a smart addition to a savvy collector’s portfolio.
Champagne is synonymous with joie de vivre and has been used to toast good news and important events since 1789 when the practice became commonplace in the royal courts of Europe. The tradition holds and today there is seldom a celebratory occasion which doesn’t have a bottle or two of Champagne on the table. Coupled with the seemingly unquenchable thirst for the top cuvees demonstrated by patrons of nightclubs and bars across the globe, demand outstrips supply many times over. As such, speculators will buy in droves when new vintages are released and when back vintages can be found at a sharp price. Such an opportunity is presented below, with almost all of the top Champagne houses represented.
| Champagne | Vintage | Format | Price IB | Qty | WA | AG |
| Bollinger La Grande Annee | 2004 | 1x150cl | £230 | 2 | 94 | 96 |
| Bollinger La Grande Annee | 2004 | 6x75cl | £660 | 3 | 94 | 96 |
| Bollinger La Grande Annee | 2005 | 6x75cl | £575 | 2 | 93 | 90 |
| Bollinger La Grande Annee | 2007 | 3x150cl | £675 | 1 | 94+ | 93 |
| Bollinger La Grande Annee Rose | 2004 | 6x75cl | £645 | 2 | 91 | 94 |
| Bollinger La Grande Annee Rose | 2014 | 6x75cl | £750 | 2 | 96 | 97 |
| Bollinger RD | 2007 | 6x75cl | £750 | 11 | 97 | 97 |
| Bollinger Vieilles Vignes Francaises | 2009 | 1x75cl | £1,000 | 12 | n/a | 96+ |
| Dom Perignon | 2008 | 6x75cl | £1,200 | 6 | 96 | 98+ |
| Dom Perignon | 2010 | 6x75cl | £1,020 | 4 | 92 | 93 |
| Dom Perignon | 2012 | 1x75cl | £175 | 2 | 96 | 97 |
| Dom Perignon | 2012 | 6x75cl | £1,050 | 5 | 96 | 97 |
| Dom Perignon P2 | 1999 | 3x75cl | £1,575 | 7 | n/a | 94 |
| Dom Perignon P2 | 2000 | 1x150cl | £1,450 | 1 | 94 | 96 |
| Dom Perignon P2 Rose | 1996 | 1x75cl | £1,025 | 3 | 96 | 98 |
| Dom Perignon Rose | 2006 | 3x75cl | £875 | 2 | 95 | 97+ |
| Krug Vintage Brut | 1995 | 1x150cl | £1,100 | 9 | 94 | 95 |
| Krug Vintage Brut | 2008 | 6x75cl | £3,300 | 1 | 94 | 97 |
| Louis Roederer Cristal | 1996 | 1x75cl | £1,250 | 1 | 95 | 97 |
| Louis Roederer Cristal | 2005 | 6x75cl | £1,350 | 2 | 93 | 92 |
| Louis Roederer Cristal | 2014 | 6x75cl | £1,350 | 1 | 96 | 98 |
| Louis Roederer Cristal Rose | 2006 | 3x75cl | £1,250 | 2 | 96 | 98 |
| Louis Roederer Cristal Rose | 2008 | 3x75cl | £2,175 | 2 | 100 | 99+ |
| Louis Roederer Cristal Rose | 2012 | 3x75cl | £1,275 | 4 | 98 | 98+ |
| Taittinger Comtes de Champagne Blanc de Blancs | 2004 | 6x75cl | £1,050 | 11 | 96 | 96 |
| Taittinger Comtes de Champagne Blanc de Blancs | 2006 | 6x75cl | £825 | 13 | 96 | 97+ |
| Taittinger Comtes de Champagne Blanc de Blancs | 2007 | 6x75cl | £725 | 8 | 95 | 96 |
| Taittinger Comtes de Champagne Blanc de Blancs | 2008 | 6x75cl | £1,200 | 8 | 98 | 98+ |
| Taittinger Comtes de Champagne Blanc de Blancs | 2011 | 6x75cl | £600 | 1 | 94 | 75 |
| Taittinger Comtes de Champagne Rose | 2006 | 1x600cl | £2,750 | 5 | 93 | 95 |
| Taittinger Comtes de Champagne Rose | 2006 | 3x150cl | £875 | 2 | 93 | 95 |
| Taittinger Comtes de Champagne Rose | 2006 | 6x75cl | £895 | 4 | 93 | 95 |
| Taittinger Comtes de Champagne Rose | 2007 | 3x150cl | £950 | 3 | 96 | 97 |
As can be seen above, the major Champagne houses have enjoyed superb performances in recent months. A breakdown of performance by producer can be seen below.
| Wine | Since Jan 2020 | 1 Year |
| Bollinger | 64.23% | 40.62% |
| Dom Perignon | 58.43% | 27.92% |
| Krug | 83.15% | 97.18% |
| Cristal | 29.87% | 27.03% |
| Taittinger | 43.11% | 32.79% |
As a basket, these top Champagnes have demonstrated superb growth since January 2020, as can be seen in the below graph.
The broader fine wine market has enjoyed a prosperous period over the past 24 months. Champagne is no exception and those who have held positions over this term have likely been handsomely rewarded. Since Jan 2020, the broad Liv-Ex 100 index has risen 35.92% and the regional Champagne 50 index is up 76.93%. This has been driven by the stellar performance observed in the top cuvees of the region, many of which are available in today’s parcel.
The Pandemic Effect
It is worth noting that the performance observed in the region throughout 2020 was muted due to the closure of the hospitality industry. A large contributor to the demand for Champagne, the industry grinding to a halt as the pandemic and lockdowns took hold had an enormous impact. The Comite Interprofessionnel du Vin de Champagne (CIVC) reported a whopping 18% sales drop by volume in 2020. But this wasn’t to last; as lockdowns eased, and the world reopened, consumers began to adjust to the ‘new normal’ and the thirst for Champagne was reinvigorated. The CIVC reported sales in 2021 reaching heights greater than pre-pandemic levels.
While a positive boost in trade and price was a boom for Champagne, further challenges lay ahead. Alongside the reinvigorated demand came supply chain issues which are predicted to continue until at least 2025. The CIVC also report that during the pandemic, production was restricted at some Champagne houses by as much as 25%; the wines produced in this period will be still resting on their lees and when they come to market this will only exacerbate the issues around supply. Moreover, frost and mildew decimated the region’s 2021 crop, reducing fruit by around 30% and 25% respectively. These factors combined equate to a challenging few years on the horizon for the Champagne houses, but enticingly for those with positions in the top cuvees, a likely fruitful period.
In Summary
Recent macro factors have collided with the Champagne market in a more debilitating way than other fine wine regions; a combination of stifled demand over 2020, reduced production, ongoing supply chain issues, frost and mildew have caused a perfect storm. We are seeing the impact of this now, but the worst is yet to come. Over the next 27 months, the full force of these issues will come into view and likely create a supply squeeze like never before. Therefore, now is the best time in recent memory to ensure any investment holdings have a portion dedicated to the top cuvees of Champagne. Parcels such as the above will become increasingly harder to source and today’s prices will be a thing of the past. We urge anyone to carefully consider securing some cases to maximise their exposure to the region before the macro environment causes further shifts upwards in price.
Buy Investable Champagne
