Recent trading activity
Weekend trade was dominated by Bordeaux, which made up 41.7% of total trade by value. The 2015 vintage was in the spotlight, accounting for the majority of trade by value. It was followed by the 2019 and 2016 vintages.
Two vintages of Château La Mission Haut-Brion traded at all-time highs this weekend. The 2011 and 2013 changed hands at £1,900 and £1,512 per 12×75 respectively.
Château Lafleur 1995 also traded at an all-time high of £6,800 per 12×75 on Friday.
Bordeaux 2019 offers relative value
Bordeaux 2019 has been the most traded vintage from the region so far this year.
It has been in the spotlight following the annual Southwold tasting in January, where early reports suggested it might be one of the greatest vintages ever.
Indeed, as the chart above shows, of the Château found in our Bordeaux 500 index, the 2019 vintage has the highest average Benchmark Critic score of 94.9 – above the highly-rated 2016 and 2020 vintages.
100-point wines
Key: Antonio Galloni (AG), Lisa Perrotti-Brown (LPB), James Suckling (JS), William Kelley (WK), Neal Martin (NM), Jeb Dunnuck (JD), Jane Anson (JA).
As shown in the table above, several wines from the vintage have received 100-point scores.Château Cheval Blanc, Château Lafleur and Château Margaux have been firm favourites, with each receiving perfect scores from four critics.
They were followed by Château Haut-Brion, Château Lafite Rothschild, Château L’Eglise-Clinet, Château Montrose and Pétrus, which all received 100-points from two critics.
Top price performers
Château Lafleur has also seen the greatest price performance since release. It currently has a Mid-Price of £17,090 per 12×75, an 194.7% increase on its release price.
Many other wines have seen substantial price rises since release, including Pétrus (158.4%), Le Pin (61.6%) and Carruades de Lafite (55.1%).
Finding relative value
With an average Market Price of £2,344, the vintage still offers relative value today. As the chart above shows, the wines are 9.8% below the line implied by our ‘Fair Value’ methodology on average.
When using Liv-ex’s Fair Value tool, some of the best value 2019s include Château La Conseillante, Château Haut-Brion, Château Lafleur, Château Léoville Las Cases, and Château Margaux.
There are currently over 425 LIVE Bordeaux 2019 opportunities on your exchange.
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.
