x

Which wine critics move the market?

.

Esteemed wine critic Robert Parker is arguably leader in the field, but since his retirement earlier this year the industry has been rife with speculation as to his ‘replacement’. As Liv-ex asks: “Will there be an heir to Parker’s throne, or will a system based on consensus or average scores emerge as the market’s new barometer of wine quality in Bordeaux?”

In considering this question, Liv-ex has measured the correlation between the scores of four top critics – Robert Parker, James Suckling, Neal Martin and Jean-Marc Quarin – on the prices of the last 10 physical vintages of Bordeaux First Growths.

Speaking to the drinks business, Liv-ex analyst Greg Smart explained that the chart above “shows a statistical measure known as ‘R-squared’ or the ‘coefficient of determination’. The left hand axis shows the percentage of total variation in price that can be attributed to variations in individual critic scores.

“It suggests that Parker scores still have more influence on prices than other critics. However, this might change over time following Parker’s retirement. There are a number of caveats including the direction of causation (i.e. scores might also be influenced by prices) and critic scores may be correlated with each other.”

Indeed, Parker continues to hold the greatest sway despite his retirement, but as these findings indicate, other critics – especially Martin and Suckling – are not far behind in the influence stakes.

As Liv-ex notes: “Brand, vintage quality and age are also likely to influence fine wine prices. In addition, there may be issues with the direction of causation in our analysis, with scores perhaps being influenced by prices – blind tastings apart – or being correlated with each other. It will be interesting to observe how the market eventually choses its successor to Parker Points.”

Archive

November 2020

October 2020

September 2020

August 2020

May 2020

March 2020

January 2020

December 2019

November 2019

October 2019

September 2019

August 2019

July 2019

May 2019

April 2019

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

April 2018

March 2018

February 2018

December 2017

November 2017

October 2017

September 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

December 2016

November 2016

October 2016

September 2016

August 2016

July 2016

June 2016

May 2016

Register to Tastingbook
Register now, it's fast, easy and totally free. No commitments, only enjoyments.
X
You need to login or register to view the info.
'
X
You need to login or register to access this functionality.
X
To write comments you need to login or register.