The first in-depth regional report into California was published exclusively for Liv-ex members this week. The report examines the development of the fine wine market’s leading non-European region, and the reasons behind its success.
Ahead of the autumn La Place campaign, we looked at how leading New World and European producers might position their new releases, including ‘library’ stock from Latour and Palmer.
We will start to release the rankings of the 2021 Liv-ex Classification on Monday next week, beginning with Tier 5. The Liv-ex Classification ranks the wines of the world into five tiers, solely by price, to determine a hierarchy of the leading labels in the secondary market.
Regional trade
Italy more than doubled its trade share by value over the past week, led by Super Tuscans Sassicaia and Tignanello, and Salvioni Brunello di Montalcino. Year-to-date, Italy is on track to surpass the record trade share levels achieved in 2020, having taken 15.7% of the market.
Bordeaux also increased its trade share on the previous week, with strong activity for its 2016 and 2010 vintages. Still, the region continues to spiral down on an annual basis, due to the sustained broadening of the market – a theme reiterated throughout the 2021 Liv-ex Classification rankings.
Champagne was also on the up this past week, rising from 8.1% to 9.1%, while other regions saw small dips. US trade by value (2.3%) was led by Opus One 2013 and Cote Memorious Pinot Noir 2014.
Top traded labels
This week’s top five came from Bordeaux, Italy and Champagne – the three regions that increased their trade share.
Léoville Barton and Cos d’Estournel 2016 traded in line with their Market Price. Sassicaia 2018 was the third-most active wine this week and is the most traded Italian wine by value so far this year.
The Salon, Le Mesnil Limited Edition 2008 Oenotheque Case (1x600cl) led Champagne trade. 2008 was reportedly the smallest harvest on record at Salon, and the entire production was bottled in magnums (8,000 bottles). The collector case also includes the final disgorgements of the three preceding Salon vintages – 2007, 2006, 2004.
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