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:
- Tuscany’s trade share increased with two wines among this week’s most active.
- Meanwhile, Bordeaux’s share of total trade fell to 38.7% from 50.2% last week.
- Liv-ex published pricing analysis on this week’s En Primeur releases.
Regional trade in the past week
Today marked the release of the highly anticipated Château Lafite Rothschild as part of this year’s En Primeur campaign, making it the first of the First Growths.
In terms of the region’s trade this week, Bordeaux’s share fell, accounting for 38.7% of total trade compared to 50.2% the previous week.
Tuscany, on the other hand, saw a big jump, accounting for 16.4% compared to 5.3% last week. Two of the top traded wines this week were from the region, including Sassicaia Tenuta San Guido 2019 and Ornellaia 2020. See more below. Several other vintages of Sassicaia also traded this week including the 2016, 2010 and 2014.
Burgundy and Piedmont observed smaller increases in trade, with Burgundy rising from 17% to 19.6% and Piedmont rising from 3.0% to 3.3%. The USA also saw a small increase from 3.5% to 4.1%, with Opus One 2019 among the top-traded wines from the region.
Champagne’s trade share fell to 11.5%, despite having Jacques Selosse Substance Blanc de Blancs Grand Cru NV feature among the top traded wines. The Rhône and the ‘Others’ category also experienced a decline in their trade shares this week.
This week’s top-traded wines
Sassicaia Tenuta San Guido 2019 was the most traded wine by value this week. Its Market Price of £2,593 represents a 30.3% rise since its release in 2022 (£1,990 per case). Fellow Super Tuscan Ornellaia 2020 was also among the top-traded wines.
Jacques Selosse Substance Blanc de Blancs Grand Cru NV also made the list and last traded at £6,480 per 12×75. Similar to other Champagnes, it has exhibited price fluctuations throughout the pandemic, reaching a peak towards the end of 2020 and continuing through 2021. However, the wine’s Market Price is now starting to fall as the chart below shows.
Jacques Selosse Substance Blanc de Blancs Grand Cru NV trades on Liv-ex
Additionally, Château Margaux Premier Cru Classe 2000 has made its mark in the top-traded wines this week. It was awarded 99 points from Neal Martin (Vinous) and is currently available for £9,750 per 12×75, a 511% increase on its release price of £1,595 per 12×75.
First of the First Growths is released En Primeur
En Primeur releases have continued at a steady pace throughout the week with the first of the First Growths releasing today, building anticipation for rest to be released. The following wines covered by Liv-ex have been released, with the percent change year-on-year indicated in parentheses:
| Ex-Négociant Price | Release Price | |
| Château Pichon Baron | €134.40 per bottle (+21.7%) | £1,620 per 12×75 (+22.7%) |
| Château Phélan Ségur | €37.20 per bottle (+21.6%) | £450 per 12×75 (+21.0%) |
| Domaine de Chevalier Blanc | €79.20 per bottle (+10.0%) | £976 per 12×75 (+13.0%) |
| Château Brane-Cantenac | €60 per bottle (+27.7%) | £720 per 12×75 (+27.7%) |
| Domaine de Chevalier Rouge | €55.20 per bottle (+18%) | £680 per 12×75 (+20.6%) |
| Clos Fourtet | €94 per bottle (+20.5%) | £1,128 per 12×75 (+20.6%) |
| Château Lascombes | €62.40 per bottle (+26.8%) | £746 per 12×75 (+26.7%) |
| Château Lynch-Bages | €105.60 per bottle (+17.3%) | £1,280 per 12×75 (+20.8%) |
| Château Larcis Ducasse | €72 per bottle (+30.4%) | £867 per 12×75 (+32.2%) |
| Château Léoville Poyferré | €84 per bottle (+16.7%) | £1,014 per 12×75 (+17.9%) |
| Château Pape Clément | €62.40 per bottle (+1.9%) | £750 per 12×75 (+1.0%) |
| Château Pape Clément Blanc | €98 per bottle (+2.1%) | £1,176 per 12×75 (+1.0%) |
| Château Clinet | €81.60 per bottle (+23.6%) | £980 per 12×75 (+23.7%) |
| Château Lafon-Rochet | €34 per bottle (+33.3%) | £420 per 12×75 (+40.0%) |
| Château Gruaud Larose | €69.60 per bottle (+11.5%) | £840 per 12×75 (+9.4%) |
| Château d’Issan | €51 per bottle (+21.4%) | £612 per 12×75 (+21.9%) |
| Cos d’Estournel | €186 per bottle (+29.2%) | £2,232 per 12×75 (+30.1%) |
| Pagodes de Cos | €38.40 per bottle (+23.1%) | £460 per 12×75 (+23.7%) |
| Cos d’Estournel Blanc | €123.60 per bottle (+16.6%) | £1,480 per 12×75 (+17.5%) |
| Château Pontet-Canet | €90 per bottle (+21.0%) | £1,077 per 12×75 (+21.0%) |
| Château Haut-Bailly | €120 per bottle (+25.0%) | £1,440 per 12×75 (+25.0%) |
| Château Petit-Village | €92.40 per bottle (+6.9%) | £1,104 per 12×75 (+4.8%) |
| Château Calon Ségur | €102 per bottle (+25.0%) | £1,220 per 12×75 (+24.0%) |
| Château L’Eglise-Clinet | €260 per bottle (+23.8%) | £3,108 per 12×75 (+24.3%) |
| Château Lafite Rothschild | €580 per bottle (+23.4%) | £7,140 per 12×75 (+23.1%) |
| Château Montrose | €144 per bottle (+26.3%) | £1,746 per 12×75 (+28.4%) |
Weekly insights recap
This week, Liv-ex published pricing analysis about the En Primeur campaign so far: members can read the update here.
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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 620+ 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.
