There are currently £1.13m in LIVE Rhone bids on the Exchange, a 161% increase from the start of 2021.
Rhone activity has picked up of late – the region’s last seven months all rank in the best 15 months of trade. The Rhone bid to offer ratio is also gravitating towards parity (1:1) – a ratio above 0.50 generally points to positive sentiment in the market.
We’ve not only observed a renewed energy in the region’s trade of late but also in its price performance. The Rhone 100 has been the third best-performing Liv-ex 1000 sub-index over the past year, with a rise of 7.37% – its best one-year return since November 2017.
Rhone trade this year can be broken down into sub-regions, as seen in the chart below.
Chateauneuf-du-Pape and Cote Rotie lead the way, with both regions recording nearly identical market share by value. Chateauneuf-du-Pape however, has seen nearly 3x the volume of Cote Rotie. This is unsurprising given their relative sizes but also is also reflects the more affordable prices points found in the Southern Rhone’s leading AOC.
The Rhone’s recent popularity has been helped by a string of high-quality vintages. Josh Raynolds, who covers the Rhone for Vinous, said most recently: “Northern Rhone lovers whose tastes run to richness and power are going to have a field day with the 2018 and 2017 vintages”.
It would seem the market concurs – the 2017 vintage has dominated Northern Rhone trade while the Southern Rhone trade has been focused around the 2016 and 2018 vintages.
All LIVE offers for the Rhone can be found in the link below. It might be best to keep a close eye on the region as offerings and prices continue to rise.
