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 continued to lead regional trade, while Champagne, Tuscany and the USA recorded an uptick in their trade shares.
- Louis Roederer Cristal 2015 led the top-traded wines by value, and three Lafite wines featured in the top five.
- Liv-ex has published its October Market Report, updates on its major indices, and a blog covering the release of Penfolds Grange 2019. Members also received updates about the record-breaking number of offers on the exchange and the benefits of placing bids.
What’s happening in the secondary market?
Despite recording a slight dip in its trade share week-on-week, Bordeaux comfortably remained the most active region on the secondary market this week, accounting for 40.8% of total trade by value. It was buoyed by three Château Lafite wines in the top-traded (see more below), as well Pétrus 1998 and Château Haut-Brion 2005 and 2015 changing hands.
Champagne was in demand this week as Louis Roederer Cristal 2015 led trade by value and volume. This was reflected in the region’s trade share, which increased from 11.0% to 14.9% this week. The USA and the ‘Others’ category increased their trade share to 7.0% and 4.6% respectively. Tuscany also saw its trade share rise from 6.2% to 9.0% week-on-week; Tenuta San Guido Bolgheri Sassicaia 2012 traded at an all-time-high this week, last changing hands at £2,400 per case.
Burgundy’s trade share fell from 26.1% to 17.6% week-on-week, despite Domaine Leroy, Clos de la Roche Grand Cru 2011 featuring in the list of top-traded wines this week. Piedmont and the Rhône remained remarkably consistent, accounting for 3.3% and 2.8% of trade respectively.
What were this week’s top-traded wines?
This week’s top-traded wines were dominated by Château Lafite. The 2020 and 2019 vintages of the estate’s first wine were among the most active this week, as was Carruades de Lafite 2020. Château Lafite 2020 also featured on the list of most-traded wines by volume.
As mentioned above, Louis Roederer Cristal 2015 led trade by both value and volume. The wine, which was released earlier this year for £2,600 per case, last changed hands at £1,952 per 12×75, 24.9% below its release price. That said, year-to-date, Cristal 2015 is the second most-traded wine on Liv-ex by value.
Representing Burgundy, Domaine Leroy, Clos de la Roche Grand Cru 2011 completed the list of top five wines traded by value.
Weekly insights recap
An article about the Penfolds Grange 2019 as well as a Liv-ex Fine Wine 100 index update are available for all to read. For members, Liv-ex published two market updates outlining the record-breaking number of offers on Liv-ex and the benefits of placing bids on the platform.
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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.