The Liv-ex March Market Report has been published exclusively for members on our Silver tier package or higher. The following is an extract.
Liv-ex members on our Silver tier package or higher can access the full report here. To upgrade your package click here or speak to your Account Manager.
After January’s distractions (Chinese New Year and the Burgundy 2021 campaign), the trade renewed its focus on the secondary market this February, with an 22% increase in trade volume.
The total value of live bids and offers on Liv-ex hit a new record of £118million. The number of wines with an active market also set a new record, with 8,000 labels (LWIN7s) and 20,000 distinct wines including vintages (LWIN11s).
Publication of Bordeaux 2020 in-bottle reports and write ups of the annual Southwold tasting put Bordeaux in the spotlight this month. The region accounted for 38.5% trade by value, up slightly on the previous month (37%). 2019 was the most traded vintage from the region.
The industry benchmark Liv-ex 100 index rose for the first time in four months. While the broadest measure of the market, the Liv-ex 1000 index, fell for the fourth month in a row.
Of the Liv-ex 1000’s sub-indices, only the Italy 100 managed to rise (+1.1%). Meanwhile, Burgundy replaced Champagne as the worst-performing sub-index, falling 2.1%. This report’s ‘chart of the month’ (which was calculated before the February indices) considers the future direction of the Burgundy 150 using technical analysis.
First Growth’s prices also fell this month, down 0.3%. ‘Off’ vintages accounted for some of the biggest falls in the index, particularly the 2012 and 2017 vintages. The wines that saw the biggest declines were Haut-Brion 2012 (-6.1%), Margaux 2012 (-2.1%), Margaux 2017 (-2.9%), Lafite Rothschild 2017 (-2.2%) and Mouton Rothschild 2017 (-2.0%).
The full report contains additional Liv-ex research and analysis:
- Italy was the top performer in February.
- Price performance of Jane Anson, Antonio Galloni and Neal Martin’s top-scoring Bordeaux 2020s.
- An overview of Neal Martin’s top-scoring Bordeaux 2019s following the annual Southwold tasting.
- Technical Analysis of the Burgundy 150 index shows that short-term, prices will remain bullish.
- Final Thought – Has Latour’s decision to leave En Primeur paid off?
Liv-ex members on our Silver tier package or higher can access the full report here.
To upgrade your package click here or speak to your Account Manager.
