This week Bordeaux saw the biggest increase in trade share, fuelled by demand for ‘on’ vintages, while a rosé Champagne was the most active wine.
- Bordeaux and Champagne increased their weekly share of trade.
- After a busy month, trade in Italian and US wines dipped slightly.
- Taittinger’s Comtes de Champagne Rosé 2007 topped trade by value.
News this week
The UK was dominated by headlines about the new budget and the proposed alcohol tax reform this week. According to the new proposals set out by the chancellor of the Exchequer, alcoholic drinks, including still and sparkling wines, will be taxed based on their ABV.
In practice, this means price cuts for most sparkling wines but increases for wines with higher alcohol content, which could have repercussions for wines from Bordeaux, the US, Italy and the Rhône.
Earlier this year, we published our findings on rising alcohol levels over the past 30 years, summed up in this article. This week we highlighted how the definition of what constitutes ‘fine wine’ has broadened. According to the latest figures, over 10,600 different wines and spirits have traded on the global marketplace year-to-date. We also released our latest report on Italian wine for all to read.
Meanwhile, Liv-ex members received updates on the recently released Krug 2008, top-rated Taittinger, the highest-scoring Haut-Brion wines offering value and weekend trading activity.
This week’s trade by region
Bordeaux’s trade share shot up to a weekly high this year of 46%; well above the region’s overall share of trade so far this year (39%). Secondary market activity centred around the ‘on’ vintages 2005, 2009 and 2018, despite increased critical reappraisals of the 2011s and 2017s earlier this month.
Trade in Champagne also increased from 7% to 12% of the total. As reported yesterday, the release of Krug 2008 has caused a flurry of demand in the market across various Champagne labels. Taittinger and Salon led trade by value this past week.
At the end of the month, trade for US, Italy, Burgundy, and the Rhône dipped slightly after stronger period of activity in mid-October.
This week’s top traded wines
Taittinger Comtes de Champagne Rosé 2007 was the most traded wine by value this past week. The wine, rated 99-points by James Suckling and 96-points by William Kelley (The Wine Advocate), last traded for £1,260 per 12×75, below its current Market Price.
Our recent analysis highlighted the value offered by the 2007 Blanc de Blancs but secondary market demand for pink bubbles is also growing. Year-to-date, rosé Champagne has accounted for 18.2% of Champagne’s total market by value.
Another wine in high demand was Margaux 2005, which was the most traded wine last weekend too. The wine, boasting 99 and 100-point scores from various critics such as Neal Martin, James Suckling and Antonio Galloni, last traded 2.6% above its current Market Price. Its price has risen 49% since release, though is still below its 2008 market peak.
Margaux 2005 trades on Liv-ex since release
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 530+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wine markets. Independent data, direct from the market.
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