Talking Trade – Record highs for Burgundy

  • Burgundy’s trade share hits new record weekly high
  • DRC Romanee Conti 2015 most active
  • Dom Perignon 2008 released in the UK
  • The Wine Advocate and Vinous publish Burgundy 2017 EP reports
  • Liv-ex Burgundy market report coming

This week’s trade surpassed the previous two by both value and volume. Excitement was generated around the Burgundy 2017 En Primeur campaign, which directed attention towards the region. Burgundy hit a record weekly high of 28.5% by value; it had previously climbed to 26.9% in mid-November.

Burgundy’s gains inevitably affected Bordeaux’s trade share which dipped to 50.6% by value. Still, First Growth activity remained relatively stable. Most of the other regions also dipped. The Rhone was the exception, rising from 3.2% to 3.6%.

Two of the most active wines this week were vintages of the acclaimed, headline-grabbing Burgundy label, DRC Romanee Conti. The 2015 last traded at an all-time high of £220,000 per 12×75; the 1998 vintage sold for a “lower” £168,000.

Dom Perignon 2008 (Antonio Galloni 98+), which was released in the UK earlier this week, immediately saw a flurry of trade on Liv-ex. Other wines that were in focus came from Bordeaux: Pavie 2009, which Robert Parker awarded 100 points and described as a “modern Bordeaux legend”, and Lafite Rothschild 1998,  which he said “revealed the essence of Lafite’s character”.

Burgundy 2017 En Primeur

On Tuesday, The Wine Advocate published the first part of its 2017 Burgundy En Primeur report by William Kelley. You can read about Kelley’s top-scoring 2017s here.

Vinous also released Neal Martin’s report “2017 Burgundy: A Modern Classic”. In the report, Martin praises the vintage for its consistency in terms of quality while noting that it “distinguishes one vineyard and/or one terroir from another with satisfying clarity”. Find out more here.

Liv-ex Burgundy report coming

Next week, we will be publishing our in-depth report on Burgundy’s secondary market performance. At a time of financial markets volatility and geopolitical uncertainty, we question Burgundy’s rising prices and the rational laws of supply and demand.