The Cellar Watch March Market Report has been released. Containing all the latest Liv-ex research and analysis, the full issue includes:
- Most viewed in February
- New releases: Sassicaia, Vega Sicilia, Krug
- EUR/GBP Exchange rate vs Liv-ex 50
- Jancis Robinson on Bordeaux 2012
- Final thought: Super Sassicaia – a waiting game
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You can download page one – with charts and data – here, or read the text below:
February positivity
February saw another positive month for the fine wine market: the indices edged up and activity on the Exchange held steady after a busy January. The bid:offer ratio ended the month on 1.14, and Bordeaux is back on top of the Liv-ex 1000. As we enter March, thoughts are beginning to turn towards the approaching En Primeur campaign—and the impact that it might have on market sentiment.
Broad trading in February
Wines from 19 different regional groups traded on the market in February—though activity for those outside of the major regions only accounted for 3.7% by value overall. Bordeaux’s share dipped on last month to 76.4% but remains above the 2015 average of 74.7%. Italy and Burgundy took 6.3% and 6.1% respectively, while Champagne took 4.6% and the Rhone, 2.9%.
Back to 05
The Bordeaux 2005 vintage saw high trading activity, accounting for 21.5% by value—its highest share since June last year. It was followed by the other two “greats”—2010 and 2009. Lafite Rothschild (9% by value) was, again, the most traded wine overall. Outside of the First Growths, Cos d’Estournel (5.1%), Cheval Blanc (4.2%) and Mission Haut Brion (3%) all found the bid.
Bordeaux back on top
All of the major indices gained in February. The Liv-ex 100 gained the most (+1.2%) and the Liv-ex 1000 moved up 0.9%. While the Champagne 50 (+1.9%) was the strongest sub-index of the Liv-ex 1000 in February, the Bordeaux 500 Index (+0.7%) is now the best performing over one year for the first time since May 2011, before the peak of the Bordeaux market.
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