Recent trading activity
After losing market share to Burgundy last week, Bordeaux’s trade rose to 31.6% of the total in the early part of the week. Pétrus 2006, Château Margaux 2010, Château Smith Haut Laffitte Blanc 2012 and Château La Conseillante 2001 were the top-traded wines.
Tignanello 2012 set a new trading high on Tuesday (15th November), when it changed hands at £1,480 per 12×75, up 4.2% on its current Market Price. The brand has enjoyed a flurry of demand for different vintages after its 2019 ranked fifth in Wine Spectator’s top wines of 2022.
Dom Pérignon 2012 also saw increased activity at the beginning of the week. The wine last traded at £2,000 per case, up 51.5% on its release price.
The most popular vintages per region so far this year
*Showing the percentage of each region’s total trade by value.
Although the secondary market is widely regarded as a place to acquire older vintages, trade data suggests that the most in-demand vintages are often the most recent.
So far this year, 2019 has been the most traded vintage on Liv-ex, taking accounting for 13.3% of total trade. However, when looking at the most popular vintages by region, different patterns emerge.
In larger regions, where stock is more readily available and prices are lower (comparatively speaking), buyers have the luxury of focusing on top vintages.
For example, in Bordeaux the 2009, 2010, 2016, 2018, and 2019 vintages are the most traded. For Champagne, the 2008, 2012 and 2014 and for Italy (Tuscany), the 2018.
In other regions where stock levels are more restricted and prices for older vintages spike more dramatically, trade is much more focused on newer releases – see Burgundy and the US for example, where the top traded vintages are the 2019 and 2018 respectively.
As this year’s Burgundy report highlighted, Burgundy buyers have continued to look for stock and value across the latest releases within its appellations, enhancing the diversity of regional wines trading.
Where the wines tend to sell best also has an impact. Bordeaux sells well in Asia which has a preference for ready-to-drink vintages.
The USA, which is the main buyer of the Rhône’s wines, is famous for being quality-conscious. That region’s most recent vintages have been the most traded. They have also been the best rated by leading US critics.
For example, Jeb Dunnuck noted that the Rhône has been offering a ‘historic run of superlative vintages’ between 2015 and 2020.
There are currently over 19,200 LIVE opportunities across the last 25 physically available vintages on the exchange.
Vintage 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.
