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 led trade this week, while Burgundy and Tuscany saw their shares of trade fall.
- Dom Pérignon 2013 was the most active wine this week, and is still the top-traded wine by value year-to-date.
- Liv-ex covered the releases of 29 Bordeaux 2022 wines.
Regional trade in the past week
With the En Primeur campaign wrapping up, Bordeaux has maintained its position as the leading region in terms of trade by value, with its share reaching 40.5% this week, up from 38.7% last week.
After seeing an increase in its trade share last week, Tuscany has experienced the largest decline this week. It dropped to 6.9% compared to 16.4% last week, despite Fontodi, Flaccianello delle Pieve, Colli della Toscana Centrale 2010 featuring in the most active wines this week. Burgundy also experienced a decrease in trade, accounting for 14.5% compared to 19.6% last week, despite Domaine Ponsot, Clos de la Roche Grand Cru, Cuvée Vieilles Vignes 2020 being one of the most active wines.
All other regions experienced an uptick in their trade share week-on-week. The USA saw a significant rise, nearly doubling to 8.0% this week from 4.1% last week, notably driven by Dominus 2018. Champagne’s regional share increased to 16.7% in the same period, with Dom Pérignon 2013 leading trade by value this week.
This week’s top-traded wines
The provenance of the most active wines this week was heterogeneous this week, with Champagne, Bordeaux, California, Burgundy and Tuscany represented.
Dom Pérignon 2013 led trade by value this week. It last traded at £1,632 per case, lower than its current Market Price of £1,790 per 12×75 and lower than its release price of £1,830 per dozen. However, it remains the top-traded wine by value on Liv-ex since its release in January.
As mentioned above, Dominus 2018 buoyed the USA’s trade share – it last traded below at £2,598 per 12×75, 11.9% below its Market Price of £2,950. The wine has two 100-point scores from James Suckling and James Suckling, and Lisa Perrotti-Brown MW scored it 99+ points.
In the context of the En Primeur campaign, it’s interesting to see that the 2011 vintage of Château Cheval Blanc was among the most active wines in the past week. Its current Market Price of £4,400 per case is slightly lower than its release price (£4,450 per 12×75). The 2022 Cheval Blanc was released at £5,760 per case and received a barrel range of 98-100 points from Neal Martin.
En Primeur update: Wrapping up
While we are still waiting on the last few releases, the campaign is wrapping up. The following wines covered by Liv-ex were released this week, with the percentage change year-on-year indicated in parentheses:
|Château Smith Haut Lafitte||£1,367 per case (+25.4%)|
|Château Smith Haut Lafitte Blanc||£1,439 per case (+14%)|
|Château Margaux||£6,192 per case (+21.4%)|
|Pavillon Blanc du Château Margaux||£3,180 per case (+10.4%)|
|Pavillon Rouge du Château Margaux||£1,800 per case (+8.7%)|
|Château Pavie||£3,576 per case (+28.5%)|
|Château Beauséjour-Duffau-Lagarrosse||£1,440 per case (+33.3%)|
|Clos du Marquis||£726 per case (+44.1%)|
|Château Léoville-Las-Cases||£2,772 per case (+42.2%)|
|Château Ducru-Beaucaillou||£2,244 per case (+17.6%)|
|Château Mouton Rothschild||£6,216 per case (+21.9%)|
|Le Petit Mouton de Mouton Rothschild||£2,196 per case (+7.7%)|
|Château La Fleur-Pétrus||£2,260 per case (+24.2%)|
|Château Bélair-Monange||£1,700 per case (+25.9%)|
|La Croix Ducru-Beaucaillou||£432 per case (+10.8%)|
|Château Canon||£1,440 per case (+33.3%)|
|Château L’Evangile||£2,676 per case (+20.5%)|
|Château Valandraud||£1,430 per case (+21.6%)|
|Château Haut-Brion||£6,180 per case (+21.2%)|
|Château Haut-Brion Blanc||£7,200 per case (+1.6%)|
|Château La Mission Haut-Brion||£3,180 per case (+17.8%)|
|Château La Mission Haut-Brion Blanc||£5,760 per case (+1%)|
|Le Clarence de Haut-Brion||£1,584 per case (+21.1%)|
|La Chapelle de La Mission Haut-Brion||£792 per case (+17.9%)|
|Château Quintus||£1,152 per case (+29.7%)|
|Vieux Château Certan||£3,300 per case (+20.6%)|
|Château Troplong-Mondot||£1,224 per case (+43.7%)|
|Château La Conseillante||£2,652 per case (+40.8%)|
|Château Figeac||£3,036 per case (+55.2%)|
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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.