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:
- The Rhône and Piedmont experienced increase in their trade shares.
- This week’s top-traded wines hail from Bordeaux, Champagne and Tuscany.
- Liv-ex has published coverage of La Place Autumn Releases, as well as the September Market Report available for members on Silver packages or higher.
What’s happening in the secondary market?
Both the Rhône and Piedmont had stronger weeks, experiencing increases in their trade shares. The Rhône, which had seen three consecutive weeks of decline, rebounded, increasing from 1.1% last week to 4.7% this week. Château Rayas recorded increased trading activity throughout the week, particularly the 2011, 2009, 2000, and 2004 vintages, as well as Château Rayas Blanc 2009.
Piedmont’s trade share rose from 1.6% in the previous week to 4.0% this week. This surge was driven by active trading of wines such as Ca’ Nova, Barbaresco, Montestefano 2020 and Giuseppe Mascarello e Figlio, Barolo, Monprivato 2006.
Tuscany and Bordeaux also experienced gains in their trade shares, accounting for 12.0% and 38.3% of total trade respectively. Bordeaux’s performance was buoyed by the active trading of three vintages of Pétrus: 2020, 2019, and 2010. Tuscany increased from 7.5% to 12.0% this week, with Sassicaia, Tenuta San Guido, Bolgheri 2019 among the move active wines this week.
However, these positive developments came at the expense of Burgundy, Champagne, the USA and the ‘Others‘ category, all of which saw declines in their trade shares. Notably, the USA experienced the most significant decline, plummeting from 11.9% to 5.4% of total trade by value following a strong previous week.
What were this week’s top-traded wines?
This week’s top-traded wines were from Bordeaux, Champagne and Tuscany.
Taittinger, Comtes de Champagne Rosé 2007 was the most active wine this week. The wine was scored 94 points by Antonio Galloni (Vinous), 96 points by William Kelley (The Wine Advocate) and 99 points by James Suckling. It last changed hands at £1,358 per case, a 7.6% discount compared to its Market Price of £1,470 per case. With multiple trades at this price point, it presents an exciting opportunity for buyers who place bids on the exchange.
Taittinger, Comtes de Champagne Rosé 2007 trades on Liv-ex
Another Champagne in the spotlight is Louis Roederer Cristal 2014, which was scored 98 points by Antonio Galloni. It last traded at £2,120 per case, a 5.6% discount from its Market Price of £2,246 per case.
Sassicaia 2019 was the third-most active wine this week and is the most-traded Italian wine by value so far this year.
Multiple vintages of Pétrus traded this week, including the 2020, 2019 and 2010. Pétrus’s Fair Value chart reveals an 81.9% correlation with Neal Martin scores. Interestingly, the 2020 vintage currently has a Market Price of £50,300 per case, which places it above the Fair Value line. Furthermore, it last traded at £51,996 per dozen, which positions it even higher over the line. By contrast, the 2019 vintage aligns closely with the Fair Value line, while the 2010 vintage falls below it, offering relative value compared to other vintages.
Which wines have been released on La Place de Bordeaux this week?
La Place Autumn Releases have continued to flow in with wines from around the world being released.
Below is a list of wines that Liv-ex has covered so far this week:
Weekly insights recap
Along with coverage of La Place Autumn Releases, Liv-ex published a Market Update for members analysing the campaign so far.
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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 20,000 wines.