July began with firm secondary market activity in Bordeaux 2019 – a highly rated vintage that was presented to the market at a generally good price. At the close of the month, secondary market trade in the vintage was 400% up on the 2018 vintage at the same time last year.
Throughout July we published a series of blogs highlighting trends and market performance in the first half of the year. While First Growths and Bordeaux had the most eyes fixed on them it was wines from Champagne and Italy that had the best performance.
The number of distinct LWIN7s (wines) traded in July broke through the 1000 mark for the first time in Liv-ex history – LWIN11s (wine + vintage) also rose to record levels. As a result of this continuing broadening of the market, Bordeaux’s share fell once again, to 40.7% of trade. It started the year at 55.3%.
Prices nudged upwards – the Liv-ex 100 rose by 0.83 % in July to close above 300 for the first time in the past five months. Interest from buyers in both the USA and Asia contributed although there are signs that demand from both regions is once again softening as the next US tariff decision looms (mid-August) and HK/China tensions are once again elevated.