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<\/p>\n\t\t\t\t\t\tThe classification is set to launch in early August this year. Images supplied<\/p>\n
Australia\u2019s fine wine authority Langtons has revealed it will launch its inaugural Classification of International Wine in early August this year.<\/p>\n
The new classification will be an international version of its Australian Wine classification, which \u201chas been a trusted guide for benchmarking local wines in the fine wine market since 1990\u201d.<\/p>\n
Langtons said that the purpose of the classification is to provide insights into secondary market trends to assist investors and collectors as well as to act as an authoritative guide for those in search of high-quality international wine.<\/p>\n
\u201cAustralian wine palates are diverse and ever-expanding, with international wines holding an established presence in the collections of the country\u2019s top wine drinkers,\u201d said Tamara Grischy, general manager at Langtons.<\/p>\n
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Tamara Grischy, general manager at Langtons.<\/p>\n
\u201cThe Langtons Classification of International Wine will be a vital resource for these collectors by highlighting the finest global wines that drive the Australian auction market.<\/p>\n
\u201cOur Langtons Classification of Australian Wine has been a trusted source for both producers and drinkers alike for over three decades now, and we\u2019re very excited to impart our expertise to global wines too as the first of its kind in the country.\u201d<\/p>\n
The classification will feature a collection of 160 wines from across the world\u2019s top wine regions in France, Italy, New Zealand, US, Spain, Portugal and Germany. The organisation said the list has been developed through secondary market auction data collected over the last five years from every international bottle that has been traded through Langtons.<\/p>\n
Just like its Australian counterpart, Langtons said \u201cthe Classification of International Wine is not based on opinion, wine show medals or scores, but data reflective of the country\u2019s top fine wine collectors\u201d.<\/p>\n
\u201cWe look at every bottle of wine internationally that\u2019s sent into Langtons and all its data. This includes aspects such as a wine\u2019s previous bidding history, its clearance rate and changes to its current value versus when the wine was bought,\u201d explained Michael Anderson, head of auctions at Langtons.<\/p>\n
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Michael Anderson, head of auctions at Langtons<\/p>\n
Anderson claimed the classification will feature a mix of hard-to-find cult classics and established titans of the fine wine trade, \u201cindicating new shifts in the fine wine space\u201d.<\/p>\n
\u201cWithout giving too much away, the wines included in the Classification of International Wine are pointing out some key market trends that will prove valuable to investors and collectors alike.<\/p>\n
\u201cAdditionally, it\u2019s also showing us what a huge volume of wine is coming through the auction space at the moment, which is a great indicator that the secondary market is strong,\u201d he said.<\/p>\n
But Anderson also hinted that some may be surprised with some of the \u201cexpected\u201d wines not making an appearance in the inaugural edition \u2013 adding that, just because a wine isn\u2019t there initially, doesn\u2019t mean it won\u2019t be featured in the future.<\/p>\n
\u201cScarcity plays a vital role in how the list is made, so if only a barrel is made of a wine, very few people will actually sell it, and if they happen to get their hands on one, they\u2019re more likely to keep it. So that results in less bottles of that particular wine in the auction space and data for us to use.\u201d<\/p>\n
While the Classification of International Wine focuses on wines from abroad, Anderson said the initiative also prompts the opportunity for local, Australian wines to shine alongside their global counterparts.<\/p>\n
\u201cFor example, a wine such as the Bass Phillip Reserve Pinot Noir or Henschke Hill of Grace, both sit easily alongside the greats of Burgundy, Bordeaux and Tuscany. This classification will be a trusted tool to compare wines to see how incredible the quality of our Australian wines are. After all, Langtons was founded on the belief that the best Australian wines have a place at the world\u2019s top tables.\u201d<\/p>\n
Langtons said its classifications are inspired by the 1855 Bordeaux Classification, which saw wines from the region ranked in importance from first to fifth growth crus mainly based on selling history.<\/p>\n
The Langtons Classification of International Wine will see all wines categorised as \u2018Classified\u2019. This differs from the Classification of Australian Wine, which sees wines categorised as \u2018Classified\u2019, along with a small number deemed a higher \u2018First Classified\u2019 status.<\/p>\n
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