November Newsletter
With another UK lockdown approaching we’d like to send you all our best wishes and let you know that business at Seckford continues as usual; accepting wines into Reserves, listing for sale and sending out for delivery.
End of year wine withdrawals
In preparation for Christmas (and pre-empting the New Year storage charge) if you are thinking of withdrawing any wines please let us know by the following dates:
4th December:
For delivery in time for Christmas (within UK mainland; other destinations are subject to your shipper's arrangements). Due to the pandemic we anticipate that our carriers will be busier than usual. This combined with less staff at their hubs and depots will mean possible delays in the delivery process. For this reason we have brought the pre-Christmas delivery cut-off forward this year, so it is advisable to let us have your Christmas delivery requests as soon as possible.
17th December:
For customers wishing to release stock before the 2021 charging period but are happy to delay delivery until the New Year - please be advised credits for storage will no longer be issued after 31st December 2020, so please make sure we have your delivery instructions and any wines you wish to list for sale before we close for the Christmas break.
Seckford will be closed over Christmas & New Year from 5:30pm on Wednesday 23rd December and will re-open on Monday 4th January 2021.
Storage Charges
We’re delighted to inform you that our extremely competitive storage charge will remain unchanged for 2021.
£7.95 ex VAT (£9.54 inc. VAT) per 9 litre case per annum.
This will continue to include insurance at replacement value. The minimum charge of £25 ex VAT (£30 inc. VAT) will also remain the same and we do not charge for receiving & handling.
Other services can now be accessed online such as requesting valuations or condition reports, arranging a delivery or just simply keeping track of your wines.
Market Update
Viewed over the last 5 years, the fine wine market has seen considerable growth, with Burgundy leading the way. However, with the backdrop of a turbulent political landscape (and now Covid-19), the last few years tell a different story at the top end; Burgundy prices peaked and Bordeaux stagnated.
Exempt from the 25% US import tariffs and buoyed by great vintages in Piedmont and Tuscany, we’ve seen a rise in demand for Italian wines. Add to this the Northern Rhone, Champagne and Spain, and the regional breadth is much wider now. Bordeaux, for example, currently has the lowest market share in history on the Liv-ex trading platform; only 35%. 10 years ago this was just over 90%. Other regions have fought back and the world of wine is richer for it.
It’s great to see this depth of sales, particularly amid such turbulent times. The market has maintained its indifference to global events: a tranquil place in the context of volatile mainstream assets. Bordeaux has maintained value whilst others have shown steady growth.
The below graph from our global marketplace partners, Liv-ex, is enlightening:
There’s certainly demand out there from our customers, if priced correctly. Whether you’re looking to buy, store or sell, please get in touch to discuss the possibilities.
Thinking of selling?
Please contact Justin Bryant - Buying & Broking Director
justin@seckfordwines.co.uk