- Bordeaux led the market, with Burgundy and Champagne neck and neck in second and third place.
- Three Champagnes were amongst the top five wines by traded value
- This week, Liv-ex members were sent a Market Update on the possible future price movements of the Armand Rousseau, Chambertin index. An update on the major Liv-ex indices in December was also published and is freely available to all.
Bordeaux regained its foothold on the market this week, taking a 33.4% share of traded value. Thanks to high-volume trades, Château Pontet-Canet was the region’s top-traded wine, followed by Petrus and Château Margaux.
Champagne had another strong week, closing the gap on Burgundy with a 17.8% share of the market. Three Champagnes were amongst the top five wines by value – Laurent Perrier’s Grand Siècle Itération N°26 and the 2002 vintage of both Dom Pérignon and Louis Roederer’s Cristal.
Burgundy closed with a 19.2% share. Domaine Armand Rousseau’s Chambertin 2018 took the lead by value, followed by the 2022 vintage of Domaine Leflaive’s Puligny-Montrachet Les Pucelles and Domaine Georges Roumier’s Bonnes Mares Grand Cru. Domaine de la Romanée-Conti took a back seat, with only the 2002 Montrachet and 2019 Échezeaux changing hands.
Tuscany took a 12.8% share of traded value, up on last week’s close at 9.1%. Masseto was well in the lead as the region’s top-traded wine by value, followed by Ornellaia and Tenuta San Guido’s Sassicaia.
The USA’s share of trade fell to 4.7% after a series of strong closes. Nevertheless, Opus One saw active trade, with 5 vintages changing hands.
Breakdown of buyer geography
US buyers remained in the lead, though less dominant than in previous weeks. They were particularly instrumental in Champagne’s success this week, accounting for 63.8% of the region’s purchased value.
Bordeaux accounted for 50.5% of the European segment’s purchasing, while Asian buyers continued to demonstrate interest in Californian reds, namely Opus One.
What were the week’s top-traded wines?
Laurent Perrier’s Grand Siècle Itération N°26 was the week’s top-traded wine by value. In 2023, James Suckling named it his ‘wine of the year’, awarding it a perfect 100-point score. Yohan Castaing (The Wine Advocate) awarded 96+ points, while Antonio Galloni (Vinous) gave a range of 94-96 points. Having seen minimal trade in H2 2024, demand has now picked up significantly around the £1,450 per 12×75 mark, 8.8% below its ex-London release price. This week, trades took place between £1,402 and £1,528 per 12×75.
Liv-ex trades of Laurent Perrier’s Grand Siècle Itération N°26
Château Pontet-Canet 2015 came in as the second top-traded wine by value. It changed hands in decent volumes at £864 per 12×75, its highest trade price since November 2023. While the wine’s bid-to-offer spread remains wide and prices are somewhat volatile, there does appear to be some sustained upward movement in recent months.
Liv-ex trades of Château Pontet-Canet 2015
Top traded wines by volume
Produttori del Barbaresco’s Barbaresco 2021 was the top-traded wine of the week by value. This week’s trades around £188 per 12×75 mark the wine’s lowest-ever transaction prices. The similarly rated 2020 and 2019 vintages last traded at £160 and £202 respectively.
Dom Pérignon 2002 appeared amongst the week’s top-traded wines by both value and volume. Prices have been trending down since the turn of the market, but technical analysis suggests that this bearish phase may be coming to a close. The Bollinger Bands are narrowing and the Lower Band trending upwards, indicating decreased volatility and creating the potential for a price squeeze. The Relative Strength Index appears to have bounced from the ‘30 line’, rejecting oversold territory. Still, these positive signs will need to be confirmed by a reclaiming of key Simple Moving Averages in the coming months.
Technical analysis of Dom Pérignon 2002.
Weekly insights recap
This week, Liv-ex members were sent a Market Update on the possible future price movements of the Armand Rousseau, Chambertin index. An update on the major Liv-ex indices in December was also published and is freely available to all.
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.
