Recent trading activity
Since last Friday, Burgundy has accounted for 28.5% of trade by value, positioning it closely behind Bordeaux, which leads with 31.9%. Domaine Arnoux-Lachaux, Nuits-Saint-Georges Premier Cru, Les Proces 2018, Domaine Armand Rousseau, Chambertin Grand Cru 2009 and Domaine Armand Rousseau, Chambertin-Clos de Beze Grand Cru 2020 have been active during that time.
Tuscany also experienced strong trade over the weekend, holding 9.7% of trade by value, notably buoyed by Masseto, Toscana 2016 and Sassicaia, Tenuta San Guido, Bolgheri 2016 and 2020 trading.
Cristal opportunities amidst its index decline
Cristal prices recorded a 2.1% decline in July, surpassing the Champagne 50 index’s 0.2% decrease. This could possibly be due to an ongoing price consolidation in the Champagne market, following a period of rising prices after the Covid-19 pandemic. After exhibiting consistent long-term growth, Cristal reached its peak at 868.07 in October 2020, to change its trajectory and close at 670.40 by July 2023.
With the market downturn, there are opportunities to be found for buyers, and for sellers there is good news, evidenced by the increased number of Champagne wines (LWIN11s) traded in July compared to previous months.
Cristal back vintages – where is the value?
Among the last ten vintages, Cristal’s highest scoring vintages are 2008 (99 points from Antonio Galloni), 2014 and 2012 (98 points from Antonio Galloni).
Cristal 2014 trades on Liv-ex
For buyers of Cristal, and followers of Galloni, the 2014 vintage looks like a potentially exciting opportunity. As shown in the above graph, the 2014 vintage last changed hands at £2,160 per 12×75 (trading 5.6% below its Market Price at the time). The Market Price seems to have stabilised, which means for those that place bids, an opportunity may arise to acquire the wine below it.
Cristal 2008 trades on Liv-ex
The 2008 vintage, which boasts the highest Antonio Galloni score, clearly shows magnums trading at a premium compared to standard 75cl bottles. The last magnum traded at a price equivalent to £4,290 per 12×75 (packed as 1×150), 32.4% more than the standard size, which last changed hands at £2,902 per 12×75. It’s interesting to note that the prices of magnums and standard bottles demonstrate a parallel pricing trend, with the gap between the two gradually narrowing over time, suggesting there might be current value in the bigger format.
Cristal 2012 trades on Liv-ex
Cristal 2012 was released at £1,630 per case and has seen its value increase by 33.4% to reach a current Market Price of £2,174 per dozen. As shown in the chart above, the wine is currently trading around its Market Price, having last traded at £2,018 per case. The best live bid (represented by the green line) and best live offer (the blue dotted line) are near the same level, indicating a tight spread and providing opportunities for both buyers and sellers of the wine.
The 2005 vintage of Cristal is also currently being offered 5.2% below Market Price at £2,390 per 12×75. See the trading screen below.
There are currently 167 LIVE opportunities for Cristal on Liv-ex. Log in to the exchange to view them and trade.
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Here’s what we’ve been reading:
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- Business Tech: Rich South Africans are spending big money on this luxury item
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.
