- Overall trade up 6% by value week on week
- Heavy trading for 100-point Haut Brion vintages (1989 and 2015)
- Liv-ex Fine Wine 50 at three-month high
- Bordeaux 2017 back underway
It has been a busy few days in both the primary and secondary markets. The Bordeaux 2017 campaign resumed on Monday and increased in intensity as the week drew on. As overall trade picked up, the market’s attention broadened slightly. Burgundy gained trade share at Bordeaux’s expense, although 100 point vintages of Haut Brion were still heavily in demand.
Prices for First Growths lifted slightly even as the pound made gains against the euro, leading the Liv-ex Fine Wine 50 to close Thursday at 354.51, an increase of 0.2% on the same time last week.
For the third week in a row Haut Brion 1989 was one of the most active wines. The last trade price of £19,700 per 12×75 is a new all-time high and represents an increase of 5.3% on last week’s high.
Releases
The En Primeur circus re-started on Monday with the release of Cantemerle, Gazin and Chasse Spleen, none of which caused great excitement.
Malescot St Exupery was the main release on Tuesday. Matters improved on Wednesday as Beychevelle sold out almost instantly. Early reports suggest that Duhart Milon, Clerc Milon and Armailhac have also been well received.
From Sauternes both Suduiraut and Rieussec came out at the same price as last year, with both ex-London prices slightly higher due to weaker sterling.
Other wines released this week include Talbot, Clinet, Malartic Lagraviere, Domaine Chevalier, Clos du Marquis and Evangile to various shades of indifference.
Next week the pace of releases will pick up as chateaux look to release their wines prior to Vinexpo Hong Kong at the end of May.
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