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Bordeaux leads weekly trade as En Primeur kicks off

Every Friday, we take a look at activity on the fine wine market in our weekly ‘Talking Trade’ post. Highlights from the past week include:   

  • Bordeaux leads weekly trade as this year’s En Primeur 2022 campaign kicks off. 
  • Three Champagne wines and two Bordeaux back vintages were among the most active wines. 
  • Liv-ex published a summary of Bordeaux 2022 scores from Jeff Leve, Jeb Dunnuck, Jane Anson, Antonio Galloni and Jancis Robinson. The Bordeaux 2022 En Primeur report is now available for all to read.  

Regional trade in the past week 

With the En Primeur 2022 campaign kicking off, Bordeaux has led regional trade this week by a strong margin, coming in at 46.5% of total trade by value. Some buyers might be looking for value in older vintages considering the high release prices of this year’s campaign so far. 

Champagne’s trade share fell from 22.4% to 14.2% of total trade by value this week, despite three wines from the region featuring in the top-traded wines this week (see section below).  

Tuscany and Piedmont also saw small improvements in their trade share, coming in 5.6% and 3.7% respectively, while the Rhone, the USA and the rest of the world all had their share decrease week-on-week. 

This week’s top-traded wines 

As mentioned above, three wines from the Champagne region featured in the top 5 most traded wines by value this past week: Taittinger Comtes de Champagne Blanc de Blancs 2012, Dom Perignon 2013 and Louis Roederer Cristal 2015. The latter was released last month

The other two wines on the list are Bordeaux back vintages, namely Chateau Lafite Rothschild 2010 and Le Pin 2004. The former was released at £12,000 per 12×75 back in 2011; its last trade price of £4,074 a case represents a 66.1% decrease since release.   

Trades for Chateau Lafite 2010 on Liv-ex 

En Primeur campaign kicks off  

As mentioned, the pace of En Primeur releases has picked up this week. Chateau Cheval Blanc 2022 was released at €470 per bottle ex-négociant, up 20.5% on the 2021’s opening price (€390). The wine traded En Primeur on Liv-ex above its release price of £5,760 per 12×75. 

Even though it was released successfully, there has been strong activity around its vintage on the secondary market, for example the 2000, 2006, 2010, 1982 and 1998 vintages. In our En Primeur report (now available for all to read), we noted that brands with successful En Primeur releases have seen growing secondary markets.  

The other wines released this week are listed below.  

Weekly insights recap 

This week Liv-ex published a summary of Bordeaux 2022 scores from Jeff Leve, Jeb Dunnuck, Jane Anson (Inside Bordeaux), Jancis Robinson and Antonio Galloni (Vinous). The results of Liv-ex’s 2022 Bordeaux En Primeur survey are also available to read.  

Last but not least, Liv-ex’s Bordeaux 2022 En Primeur opening report is now available for all to read.  

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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 630+ 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.