Recently, we reported on a rise in the California 50’s bid:offer ratio. Amongst component wines, Opus One’s bid:offer ratio sits highest. With the value of bids now outweighing the value of offers, the outlook for Opus prices is improving.
While this is not the first time Opus One’s bid:offer ratio has risen over 1 since the turn of the market, its move from 0.7 in August to 1.3 in September represents the largest month-on-month advancement since February 2023.
Where is demand coming from?
Over the past few weeks, demand from US buyers for Opus has strengthened, with higher bid values and volumes. The US now represents 40% of total Opus demand (by volume) on the exchange. Asia follows close behind, accounting for 39% of bid volume, while the UK and EU lag behind with 14% and 7% respectively.
Asian buyers’ bids for Opus One, however, have not successfully resulted in trade. With US buyers able to purchase at higher prices while maintaining their margins, they dominate the Opus One market, claiming 64% of traded value in Q3.
Top-traded vintages
Both the 2021 and 2013 vintages of Opus One, the two top-traded YTD have posted recent gains.
Opus One 2021
Opus One 2013
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.
