- The Liv-ex 100 fell 2.9% in June, closing at 393.82. Year-to-date, the index is down 6.1%.
- All the major Liv-ex indices recorded negative movements last month, reflecting a challenging market for fine wine.
- Among the top price performers were wines from Burgundy, Bordeaux and the Rhône.
*made using the Liv-ex Charting Tool
Amid the current challenging fine wine market and the mixed reviews of the En Primeur campaign, all the major Liv-ex indices recorded negative movements in June.
The Liv-ex Fine Wine 50 (which tracks the movement of First Growths) and the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from around the world) were down 2.4% and 2.1% month-on-month respectively. The Liv-ex Bordeaux 500 (which tracks 500 leading Bordeaux wines) was also down 1.6% in that same period.
Trade was down both by value and volume in June. The breadth of the market also declined slightly month-on-month, with 1,771 individual labels (LWIN 11s) traded on Liv-ex over the course of the past month.
What’s driving the index?
Out of the 100 wines in the index, 79 wines saw their prices fall, while 18 rose and 3 remained flat month-on-month.
The top-performing labels in June were mostly Burgundy and Bordeaux wines. The highest risers from Bordeaux were Château Palmer 2019, Château Montrose 2010, and Château Pontet-Canet 2019, all increasing by more than 3% month-on-month. Château Mouton Rothschild 2016 also rose 1.4% during the same period.
From Burgundy, Domaine Leflaive, Puligny-Montrachet Premier Cru 2019, Domaine Armand Rousseau, Chambertin Grand Cru 2015, Clos de Tart, Clos de Tart Grand Cru 2019, Domaine Comte Georges de Vogüé, Musigny Grand Cru 2019, and Domaine Faiveley, Corton Grand Cru 2019 all saw their price increase more than 3.5% in June.
Despite the fall of the Rhône 100, which is down 3.1% month-on-month and 15% year-to-date, it’s interesting to note that the biggest riser last month was Clos des Papes, Châteauneuf-du-Pape 2019, which was up by 12.4%.
In terms of the biggest fallers, Champagne wines featured heavily with Pol Roger, Sir Winston Churchill 2013, Krug, Vintage Brut 2018, and Dom Pérignon Rosé 2008 all seeing considerable price decreases.
The worst performer in terms of price was Domaine Georges Roumier, Bonnes Mares Grand Cru 2019, which dropped 14.6% month-on-month. Fellow Burgundy wine Domaine Armand Rousseau, Chambertin-Clos de Bèze Grand Cru 2016 also featured at the bottom, its price decreasing by 11.9%.
June top performers
*prices shown are Liv-ex Mid Prices; the mid-point between the highest live bid and lowest live offer on the market. These are the firm commitments to buy and sell at that price; transactional data rather than list prices. It represents the actual trading activity of 620 of the world’s leading fine wine merchants. Because Liv-ex doesn’t itself trade, this data is truly independent and reliable.
As previously mentioned, the top price performers were mainly from Burgundy and Bordeaux, with the exception of the Clos des Papes, Châteauneuf-du-Pape 2019 which saw the biggest monthly increase to its Mid Price, up 12.4%.
Following closely was Domaine Leflaive, Puligny-Montrachet Premier Cru Clavoillon 2019, which saw a month-on-month increase of 6.6%. In third position, Château Palmer 3ème Cru Classé 2019 was up by 5.6% in June.
However, it’s worth noting that despite their strong performances last month, all of the top five wines except for Château Palmer 2019 are down at least 2.4% year-to-date. Domaine Leflaive, Puligny-Montrachet Premier Cru Clavoillon 2019 in particular has fallen 10.4% since the start of the year.
A note on En Primeur
The En Primeur campaign concluded in June, closing with an average year-on-year release price increase of 20.8% for wines covered by Liv-ex.
Our closing report described the 2022 En Primeur campaign as another missed opportunity. Indeed, while the international trade was ready to promote and sell this great vintage, they could not do so regardless of price. This led to a difficult and costly campaign which sadly, despite the quality of the wines on offer, is unlikely to have encouraged a new generation of buyers.
Read the full closing report here.
What is the Liv-ex 100 index?
The Liv-ex Fine Wine 100 Index is the industry leading benchmark. It represents the price movement of 100 of the most sought-after fine wines on the world’s most active and liquid marketplace from France, Italy, USA, Australia and Spain. Stretching back over 20 years, the Liv-ex 100 is quoted on Bloomberg and Reuters screens.
All Liv-ex indices are calculated using our Mid Price; the mid-point between the highest live bid and lowest live offer on the market. These are the firm commitments to buy and sell at that price; transactional data rather than list prices. It represents the actual trading activity of 630+ of the world’s leading fine wine merchants. Because Liv-ex doesn’t itself trade, this data is truly independent and reliable.
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