Twelve bottles from the 2004 vintage of Tuscan estate Ornellaia sold on Liv-ex in London for a record 1,660 pounds ($2,670) this month as investors diversified away from Bordeaux into regions such as northern Italy and the Rhone.
On a warm October afternoon, a steel- framed concrete warehouse north of San Francisco is inundated with grapes. Forklifts bearing fruit from the nearby Russian River Valley deliver their loads to a slow-moving conveyor belt. Flanking both sides, winemaking interns pick out stems and sunburned grapes as they groove to hip-hop music thumping from loudspeakers.
Ferngrove winery, which grows Shiraz, Cabernet Sauvignon and Semillon grapes in Western Australia’s Frankland River, last year faced declining sales and the prospect of breakup if business didn’t recover.
Twenty years ago few wine lovers outside Spain ever talked about the country’s wines, with one exception: Vega Sicilia, long considered one of the greatest red wines in the world by connoisseurs who rank it alongside France’s Premier Cru Bordeaux.