- Bordeaux led the market with a 36.7% share of traded value, followed by Burgundy with 23.7% and Champagne with 16.0%.
- Chateau Mouton Rothschild 2020 was the top-traded wine by value.
- While US buyers were less active this week than the last, Asian buyers stepped up, doubling their share of purchasing.
After falling behind Champagne last week, Burgundy has regained its foothold on the market and stepped back up into second place. Its share of traded value rose from 16.0% to 23.7% but remains below its October share of 25.2%. Armand Rousseau’s 2019 Chambertin Grand Cru was the region’s top-traded individual wine by value, but Domaine de la Romanée-Conti prevailed as the top-traded producer. Alongside individual cuvées, assortment cases of the 2020 vintage also changed hands.
Bordeaux maintained its steady lead of the market, accounting for 36.7% of traded value. The 2019 vintage traded most frequently, followed 2018 and 2010.
Following two consecutive weeks as top-traded by value, Louis Roederer’s Cristal 2015 came in as Champagne’s top-traded and the second overall top-traded wine of the week. Champagne’s trade share fell from 19.8% to 14.8% but remains above its October share of 12.7%. US buyers accounted for over half of Champagne purchasing.
After a weak close last week, the USA increased its share of the market to 4.3%. Promontory and Harlan Estate were the top-traded producers, together accounting for 49.8% of trade.
In the realm of spirits, a case of 6x70cl Glenfarclas Highland Single Malt 25YO changed hands at £710. As shown below, while trade prices have been remarkably consistent over the past two years, its Market Price has increased over time. A single bottle of the 40YO also changed hands for £545.
Liv-ex trades of Glenfarclas, 25YO Highland Single Malt
Breakdown of buyer geography
US buyers were less active on the market this week than last week, coming in third place behind Europe and the UK.
Asian buyers doubled their share of purchasing, accounting for 15.1% of traded value. Their purchasing was largely concentrated in Bordeaux (75.8%), followed by Burgundy (12.3%).
What were the week’s top-traded wines?
Château Mouton Rothschild 2020 was the week’s top-traded wine by value. Since its ex-London release at £5,196 in 2021, the Grand Vin’s price has fallen a substantial 15.6%. Still, its price has rebounded slightly in recent months. In August and September, 3×75 cases (which generally incur a premium) were trading for £1,000 (equivalent to £4,000 per 12×75). This week’s trades of regular pack sizes occurred around 10% higher, from £4,388 to £4,398 per 12×75.
Liv-ex trades of Château Mouton Rothschild 2020
Regional Benchmarks : Château Mouton Rothschild 2020
While the 2009 vintage is well-known for its critical acclaim, it also carries a reputation for its high release prices. In today’s market, it is more common to see 2009s trading below their ex-London release prices than above. Ducru-Beaucaillou 2009, the fourth top-traded wine of the week, has maintained a healthy secondary market since its release, rarely dipping below its ex-London release price of £1,895.
Liv-ex trades of Ducru-Beaucaillou 2009
Top-traded wines by volume
Four of the week’s top-traded wines by volume also featured amongst the top-traded wines by value. Rather than very high-value wines driving this week’s trade, high-volume trades of slightly lower-priced wines have taken center stage. As buyers navigate this challenging, downward moving market, they are turning to pockets of relative value.
Lynch-Bages is an excellent example of a wine providing value relative to its price. The wine received 97 points from both Neal Martin (Vinous) and Lisa Perrotti-Brown MW (The Wine Independent), and a perfect 100-point score from Jeb Dunnuck. Not only is it critically acclaimed, at a Market Price of £900 per 12×75, it is also relatively accessible – a wine made not just for cellaring, but for drinking. Though its price has not been immune to market conditions, it has not crossed below its ex-London release price.
Liv-ex trades of Château Lynch-Bages 2018
Weekly insights recap
This week, Liv-ex members were sent an analysis of the Château Lafite Rothschild index.
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 £140m of bids and offers across 20,000 wines.
