Bordeaux prices have risen 9.4% in the past year, driven by demand for the First Growths which are nearing record levels.
- Bordeaux has accounted for 39.3% of trade by value in the past year.
- The Bordeaux 500 index is up 9.4% over the past year.
- The First Growths are the best performing group of wines, up 14%.
Fine wine returned to its former peak in September this year, but unlike in June 2011, Bordeaux wasn’t in pole position.
Bordeaux’s trade share of the market has continued to decline since 2011, and currently sits at under 40%. The main reason for this and the market’s progress has been the market’s broadening and diversification.
With the likes of the Burgundy 150 (up 18%) and Champagne 50 (16%) still proving dynamic, the Bordeaux 500 has been the slowest mover within the Liv-ex 1000 index.
Nonetheless, it remains an active category. On average, Bordeaux prices have risen 9.4% in the past year, driven by demand for labels on both the Right and Left Banks.
Year-to-date, over 2,500 Bordeaux wines (LWIN11s) have traded on Liv-ex – second only to Burgundy.
The First Growth prices near record levels
One group of Bordeaux wines has performed particularly well in the past year, the First Growths.
The Fine Wine 50 is up 14.1%, and, as recently examined, the index is slowly returning to its record level. Lafite Rothschild – the most traded wine by value on the secondary market – is also leading in terms of price performance.
Outside Bordeaux’s highest echelons, the Left Bank 200 – which tracks the price performance of 200 wines from the Left Bank – has risen in line with the Bordeaux 500 index, up 9.4%. The Second Wines 50 and the Right Bank 50 have risen equal amounts, up 8.1%.
Over this period, the most traded Left Bank wines by value have been Pontet-Canet, Lynch-Bages and La Mission Haut-Brion; most active from the Right Bank have been Angélus, Cheval Blanc and Pavie.
Sweet wines offer value
Bordeaux’s sweet wines from Sauternes have taken 2% of the region’s share by value in the past year.
Within the Bordeaux 500, the Sauternes 50 have been the worst-performing sub-index, both in the short and long-term. But even these labels have risen 4.4% in the past year, while still granting the lowest entry point into the fine wine market.
Critics recently turned their eyes back to 2001 and 2017, and have commented on the excellent quality offered by these vintages. Liv-ex members can find out more about the latest Sauternes opportunities here.
Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 550+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £90m of bids and offers across 20,000 wine markets. Independent data, direct from the market.
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