On the eve of En Primeur, Bordeaux led weekly trade in the secondary market this week, the 2014 vintage proving particularly popular. A Spanish wine made a rare appearance among the most-traded wines by value.
- Bordeaux led weekly trade, buoyed by two 2014 First Growths among the top-traded wines.
- The most traded wines hailed from Tuscany, Spain, Champagne, Bordeaux and Piedmont.
- This week, Liv-ex published Market Updates looking into James Suckling’s top-scoring Bordeaux 2023s and the wines driving the Left Bank 200. Members on Gold packages and above also have access to a technical analysis of Piedmont fine wine prices.
What’s happening in the secondary market?
Bordeaux led weekly trade with 32.6% of total trade by value, down slightly from the previous week’s 35.2%. The region boasted two wines among the most-traded by value and one in the list of most-traded by volume.
The En Primeur 2023 campaign began today as Chateau Angludet was released internationally at £288 per 12×75, down 11% on last year. Observers will wonder to what extent this price is a sign of things to come. With First Growth releases expected as soon as next week, speculators won’t have to wait long. Follow our analysis of the campaign by signing up to our release alert emails.
Burgundy trailed behind, its trade share down from 28.0% to 24.0% week-on-week. Champagne recorded an uptick this week, accounting for 13.0% of total trade, buoyed by Jacques Selosse, Millésime 2008 changing hands.
Tuscany was another winner this week, its trade share up from 9.4% to 12.7% week-on-week. One vintage of Sassicaia was among the most-traded wines by value and volume this week, and one vintage of Tignanello was among the most-traded by volume.
The ‘Others’ category (the amalgamation of any region not listed in the table below) also fared well, rising from 6.4% to 8.5% of total trade. It was in part buoyed by La Rioja Alta, 904 Gran Reserva 2011 trading.
The Rhône and Piedmont’s trade share dipped by 0.1% each week-on-week, the regions holding 2.2% and 3.9% of trade respectively. The USA recorded a slightly deeper fall, from 5.5% to 3.2% of trade.
In the spirits world this week, Glenfarclas, Highland Single Malt 25YO, Speyside traded at £748 per 6×70.
What were this week’s top-traded wines?
There was great regional variation in the most-traded wines by value this week, as they hailed from Tuscany, Rioja, Champagne and Bordeaux. Sassicaia 2020 featured both on the list of most-traded wines by value and volume; the wine, which was released at £2,400 per case, last traded 9.0% below its release price at £2,184 per 12×75.
Fellow Super Tuscan Tignanello 2020 made its way into the top-traded wines by volume. After a rise in price following its release at £1,230 per case, the wine’s trade price has since been steadily declining, and it last traded below its release price.
Tignanello 2020 trades on Liv-ex
Spain made a rare appearance on the list of most-traded wines by value and volume this week, with La Rioja Alta, 904 Gran Reserva 2011. The wine boasts 94 points from Neal Martin (Vinous) and a Market Price of £420 per case, the same as its release price.
Jacques Selosse, Millésime 2008 buoyed Champagne’s trade share by featuring among the most-traded wines by value. The wine, which was scored 100 points by Antonio Galloni (Vinous), displays a remarkable price curve since its release, peaking at almost £40,000 per case in 2022 before tumbling back down below £30,000. Single bottles of the wine traded just above £20,000 per 12×75 in April 2024.
Jacques Selosse, Millésime 2008 trades on Liv-ex
2014 seemed to be the Bordeaux back vintage of choice last week as Château Lafite Rothschild 2014 and Château Margaux 2014 both made the list of top-traded wines by value. In an update published earlier this year, we highlighted the 2014 vintage as a compelling option for buyers seeking value in Bordeaux. In her ‘Bordeaux 2014: Ten Years On’ report, critic Lisa Perrotti-Brown MW (Inside Bordeaux) scored Châteaux Lafite and Margaux 92 and 97 points respectively.
Over in the most-traded wines by volume, Château Boyd-Cantenac 2012waved the flag for Bordeaux. The list was completed by a Barolo, Fratelli Seghesio, Barolo La Villa 1997.
Weekly insights recap
This week, Liv-ex published two Market Updates for members: one highlighting James Suckling’s top-scoring 2023 Bordeaux wines and another looking into the wines driving the Left Bank 200 index. A technical analysis of Piedmont prices was also made available for members on Gold packages and above.
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.
