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Struggling Bordeaux 2021 campaign drives 15% discounts

Wines from the 2021 en primeur campaign are finding their way onto the secondary market with reductions of up to 15% on their original offers. But the average bid prices for the wines are 23.7% lower than the releases.

Of the wines in the Bordeaux 500 index, the 2021s were released at an average discount of 1.6% to the 2020 vintage. The 2021 vintage was also scored two points lower by Neal Martin on average.

The international trade has found it challenging to sell many of the wines from this campaign. Liv-ex’s Fair Value methodology has consistently shown throughout the campaign that most releases do not offer a compelling proposition to buyers. For example, there are many opportunities among the 2019, 2017 and 2014 vintages that offer wines for lower prices, with several years in bottle and often with identical or better scores too.

Although most Bordeaux trade during this campaign has been for the 2019 vintage, there is an emerging market for the 2021s – one marked by even greater reductions.

There are currently 55 LIVE bids for the 2021 vintage on the exchange and 48 LIVE offers. Of these, 37 of the offers are at prices below the initial release price, with some up to 15% below release.

Perhaps unsurprisingly, nearly all of the bids are below the initial release price, with some 50% below release.

Those wines currently being offered with the greatest reductions can be seen in the table below.

On the other hand, the four wines with the highest bids can be seen in this table:

Our closing summary of the campaign will be published next week and will look at the market’s reaction in more depth.

Head to the exchange to find LIVE Bordeaux opportunities


Our Bordeaux En Primeur 2021 page contains everything you need to know about this year’s campaign. You can also sign up for our daily En Primeur email alerts using the form below.   

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 580+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 16,000 wines. Independent data, direct from the market.