What’s happening in the market?
Burgundy dominated trade over the weekend, taking 41.7% of total trade share. This was led by trades of Domaine de la Romanee-Conti, Romanee-Conti Grand Cru 2020, Domaine Henri Boillot, Puligny-Montrachet Premier Cru, Clos de la Mouchere 2022 and Emmanuel Rouget, Echezeaux Grand Cru 1999.
Italy has taken 12.0% of trade share since Friday, up from 9.5% the previous week. Giuseppe Rinaldi, Barolo, Brunate proved popular with both the 2019 and 2010 vintages changing hands.
The USA, with 1.8% of trade share, was driven by Scarecrow, Cabernet Sauvignon, Rutherford as the 2016, 2014 and 2017 vintages all found buyers.
Today’s deep dive: Value of live Burgundy offers hits £45million
*Made using the Liv-ex Charting Tool
Burgundy was one of the regions collectors flocked to during the most recent fine wine boom, which sent prices for the region’s wines soaring. However, since the peak of the market in October 2022, the Burgundy 150 index has pulled back 22.3%. Following wider market trends, the index declined 0.6% last month, with a year-to-date decrease of 6.0%.
‘Burgundy for Kings, Champagne for Duchesses, Claret for Gentleman’ – with a record number of Burgundy buying opportunities and declining prices, now may be the time for savvy collectors to access the fine wine world’s most desirable region.
Live exposure
Burgundy offers exposure on your Exchange has nearly tripled since the peak of the market.
There are currently over £45.4m LIVE Burgundy offers on the exchange. Of these, 64.2% are Grand Crus, 21.6% are Premier Crus and 14.2% are village wines. Domaine de La Romanée-Conti has the highest value of offers, accounting for 19.5% of the total. It is followed by Leroy (9.8%) and Armand Rousseau (7.2%).
Market Sentiment
Burgundy’s bid-to-offer ratio is the lowest among major regions on the secondary market, a reflection of heightened risk aversion and potentially a sign that the ongoing price correction has further to go. Over the last 3 months, wines within the Burgundy 150 have traded, on average, 7.6% below their Market Price.
Looking at the top-traded Burgundian wines by value in Q1, it is interesting note that three of the five are white wines.
Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche 2018 was the third most traded Burgundian wine by value in 2023, behind wines from Domaine de La Romanee-Conti.
The wine received 93 points from Neal Martin (Vinous) and 98 points from James Suckling. Jancis Robinson awarded the wine 19 points. It last traded at £8,200 per 12×75.
Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche 2018 trades on Liv-ex
Domaine Bonneau du Martray, Corton-Charlemagne Grand Cru 2020, with 97 points from William Kelly (The Wine Advocate), last changed hands at £3,712 per 12×75 – an 11.6% discount to its current Market Price. While the 2017 last traded at 4.8% discount to its current Market Price of £3,774per 12×75.
There are currently over 11,442 LIVE Burgundy offers on your exchange. Log in to view them.
In case you missed it
Here’s what we have been reading:
- Liv-ex – Bordeaux 2023: In the balance
- The Drinks Business – Bordeaux vintage report part 2: a vintage of reactivity, vigilance and surveillance
- The Financial Times – The overlooked threats to the global financial system
