Recent trading activity
The most traded wines in the middle of the week were all Champagnes: Dom Pérignon Oenothèque 1996, Dom Pérignon 2012, Emmanuel Brochet Millésime Selectionne Extra Brut 2008, Salon Le Mesnil-sur-Oger Grand Cru 1996 and 2002.
The region’s share surpassed that of Bordeaux and Burgundy for the first time, albeit over just two days of trade.
Tuscany continued to enjoy high demand, with the 2019 vintages of Sassicaia and Tignanello at the forefront of activity. Meanwhile, Australia and Germany led trade within the ‘others’ category.
The secondary market performance of Dom Pérignon
After Louis Roederer’s Cristal, Dom Pérignon has been the top traded Champagne brand in the last year. Prices have risen steadily across all recent vintages, with the 2010 being the best performer over a one-year period, rising 37.7%. The 2012 is the next best, up 28.1%, and has also been the label’s most traded vintage during this time.
The Champagne 50 index has risen 42.7%, while the region’s annual trade share currently sits at an all-time high of 13.3% of the total market. With Champagne prices and demand at record levels, today’s article examines which of Dom Pérignon’s vintages still offer relative value.
As the chart below shows, Dom Pérignon prices are 60% correlated to age.
Despite their price appreciation, both the 2012 and 2010 sit below the regression line. The 2012 looks particularly attractive, being the only recent vintage available below £2,000 per 12×75, and boasting high critic scores from major critics, including 97-points from Antonio Galloni (Vinous).
More mature vintages like 2004 (£2,040 per 12×75) and 2003 (£2,200 per 12×75) also offer relative value based on their age.
The 2008 is the furthest above the Fair Value line; however, the wine is the highest scored Dom Pérignon vintage. It received 100-points from Jane Anson, 98-points from Antonio Galloni (Vinous) and James Suckling, and 19/20 from Jancis Robinson.
In June 2021, Anson called it ‘easily the best Champagne I had all year,’ adding that it has ‘just so much power and precision’. The 2008 has been the second most traded Dom Pérignon vintage (after 2012) this year.
There are currently over 1,220 LIVE Champagne opportunities on your exchange.
Champagne opportunities
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.
