What’s happening in the market?
Trade since last Friday has been led by Louis Roederer Cristal 2015, which recorded significantly increased trading activity, buoying Champagne’s trade share up to 20.5%. As a result, the region surpassed Burgundy, whose share dipped below 20%.
Today’s deep-dive: The most sought-after Champagnes
The Champagne 50 index has declined 13.1% year-to-date, which makes it the second-worst performer in the Liv-ex Fine Wine 1000 after the Rhône 100. However, in September the Champagne 50 remained stable. In this update, we look at the Champagnes that have received the most demand and searches over the past 30 days, shedding light onto which wines are buoying the index.
Which Champagne 50 wines were the most in-demand in the last 30 days?
Bids on Champagne 50 wines over the last 30 days were fairly evenly spread across brands. However, in terms of vintages, there was a notable preference for the high-scoring 2008s and 2012s.
The most in-demand Champagne, Louis Roederer Cristal 2012, was scored 98 points from Antonio Galloni and has seen its Market Price rise 25.7% since its release. The chart below shows that the wine is among the cheaper vintages of Cristal, despite having one of the highest scores.
The wine currently has a very narrow spread on Liv-ex, presenting an opportunity for buyers and sellers alike. Log in to the exchange to view bids and offers on Cristal 2012.
Louis Roederer Cristal 2012 trades on Liv-ex
Which Champagne 50 wines were the most searched-for on Liv-ex in the past 30 days?
Unsurprisingly, in terms of searches, the 2008 and 2012 vintages again came up as the most popular. Among the brands, Dom Pérignon and Louis Roederer were standout performers, with three wines each featuring on the list. Taittinger was not far behind, with two vintages of Comtes de Champagne Blanc de Blancs.
Which Champagne 50 wines were the most traded in the last 30 days?
Looking at trading activity, the 2008 vintage again held a dominant position, particularly in terms of trade by value – widely considered to be the greatest recent Champagne vintage, 2008 wines often command a premium to others on the market (see Cristal above).
While Dom Pérignon 2008 led rankings in terms of both volume and value in the last 30 days, Cristal, Bollinger and Taittinger had more vintages prominently featured in the top trades. The high volume and brand salience, as well as the comparatively more affordable price of Dom Pérignon mean the wine frequently tops trade tables.
So far this year, Louis Roederer Cristal and Dom Pérignon have been the dominant labels, accounting for 18.7% and 16.5% of Champagne trade respectively. Taittinger, Comtes de Champagne Blanc de Blancs secured the third position, trailing behind with 5.9% of trade.
What’s the trend for Champagne 50 wines in relation to their Market Price?
The Champagne 50 hit its peak in October 2022, just as the fourth quarter rolled in. In the third quarter, when the index was rising to its peak, Champagnes were on average traded at a 1.1% discount to their Market Price.
However, the index has declined steeply since October 2022. As prices are falling, so to is the average purchase price of Champagnes compared to their Market Price. In Q3 2023, wines in the Champagne 50 were on average purchased 4.5% below their Market Price. 39% of Champagne 50 wines in that period were purchased between 10 and 15% below Market Price, in comparison to only 13% this time last year, meaning buyers are securing wines at more advantageous prices than a year ago.
With that said, there are currently 1,551 LIVE offers for Champagne wines on Liv-ex. Log in to the exchange to view them and trade. Additionally, you can use the new ‘Save to List Studio‘ function to add these wines to a custom list (e.g. a ‘wish list’ or ‘watch list’) to which you can return at any time.
In case you missed it:
Here’s what we’ve been reading:
- Liv-ex: Which are the most popular wines on Liv-ex?
- The drinks business: ‘Pockets and strength’ during Q3 hint at potential stabilisation of the fine wine market
- Decanter: Champagne Bollinger secured B Corp status
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.