The Union Des Grand Crus De Bordeaux held their annual tasting this week in London, at which they presented the wines of the 2018 vintage. Trade for the 2018 vintage has continued throughout 2020 but prices have drifted. The market now awaits in-bottle scores expected early next year. This week saw little 2018 trade but instead the most recent physical vintage, 2017, lead activity, followed by 2005 and 2016.
October has begun where September left off. Month-to-date values and volumes are up on the previous 9 months. There has also been an eclectic array of trading activity including whisky, brandy, and Montilla Moriles, an unfortified take on sherry.
Bordeaux trade share by value fell week on week, to 36.7%. Pauillac made up over 50% of the trade value, with Pomerol and Pessac-Leognan trailing in the low double digits.
Burgundy (22.3%) found its feet this week and rose above 20% for the first time since early August and Champagne (7.2%) also grew its share.
USA held relatively flat at 13.0%, significantly higher than where it ended 2019, 2.3%.
Italy (12.4%), the Rhone (3.7%) and Others (4.7%) all drifted.
Promontory, Napa Valley 2013 was the most traded wine by value this week. Additional Napa Valley wines from the 2013 vintage that moved hands include Opus One, Verite, Hundred Acre, and Continuum.
DRC, Romanee Conti, the Domaine’s most expensive wine, saw trade for the 2006 vintage at a new high on Liv-ex – just 11 years ago the wine traded at £34,800 per 12×75.
Mouton Rotshchild 2000 and its famous gold Augsberg Ram bottle design continues to command a significant premium over surrounding vintages. Likewise, Lafite Rotschild 1982, trades at a premium due to its popularity with Robert Parker in the early 2000’s and the success of 1982 as an overall vintage. It was most recently re-scored by Neal Martin of Vinous at 97 points, saying “two recent bottles demonstrate a wine that perhaps has just taken 30+ years to reach its zenith”. He added, “There is more cohesion and finesse than bottles encountered a decade ago, and a delicate but firm structure that frames the pure blackberry and cedar notes on the sustained finish. Wonderful”.
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