Recent trading activity
Bordeaux trade remained focused around ‘on’ vintages as August drew to a close. The 2019 and 2009 vintages dominated activity around claret throughout August and there were trades for Château Margaux 2019, Château Lafite Rothschild 2009, Château Les Carmes Haut-Brion 2019 and Château Lafite Rothschild Carruades de Lafite 2019 on the final day of the month.
Vintages ending in ‘9’ were also evident among Burgundy trades, such as Domaine de la Romanée-Conti Romanée-Conti 2019 and Echezeaux 1999. Interest in Champagne was led by Dom Pérignon and Krug vintage.
California’s monthly market share hits lowest point this year
Another trade in the last days of August was for Screaming Eagle’s Cabernet Sauvignon 2019. The wine is the top-traded Californian label so far this year (measured as LWIN11).
Overall, wines from the 2018 vintage have seen the most trade year-to-date. Followed by the slowly emerging 2019s (see chart below).
However, California’s market share is currently declining. The region’s share of the market was 10.6% in January but has mostly been falling ever since, as the chart above shows.
With a fresh wave of Californian 2019s, from estates such as Opus One, Promontory and Joseph Phelps, due this month from La Place de Bordeaux, it is possible that interest in the region might revive.
There continues to be activity around wines from the 2018 vintage notably those of Opus One, Spottswoode and the recently released Dominus and Harlan. And a lack of stock on the horizon due the damage caused by the 2020 wildfires could generate further interest in these two highly-rated vintages.
Nonetheless, the region’s declining trade share potentially points to a cooling around Californian wines.
The California 50 index rose 33.3% over the last two years, behind only the Burgundy 150 and Champagne 50. Yet over the past six months it has risen just 2%; falling behind the Rhone 100.
Liv-ex members can read more about the market for Californian wines in our latest extended report – La Place de Bordeaux and the expanding fine wine market.
Opportunities to buy Californian wine
There are currently 593 LIVE bids and offers on Californian wines on the exchange, with over 50 for the wines from the Screaming Eagle stable.
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 600 merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.
