Recent trading activity
With the En Primeur campaign wrapping up at the end of last week, Bordeaux has maintained its position as the leading region in terms of trade by value since last Friday (23rd of June), accounting for 40.7% of trade. Some of the most active wines from the region were Château Margaux 2005, Château Pontet-Canet 2009 and Château Trotanoy 2020.
After a decline in trade last week, Burgundy experienced a rebound over the weekend, representing 29.2% of overall trade. The 2019 vintages of Domaine de la Romanée-Conti and Domaine Armand Rousseau, as well as the 2020 Domaine des Lambrays were particularly active.
Promising opportunities as the Burgundy 150 index declines
As shown in the graph below, the Burgundy 150 index peaked in October 2022 and has been on a consistent downward trend since then. Last month, the index declined by 2.7%, with a year-to-date decrease of 5.7%. While this decline raises concerns about the stability of the index, the falling prices also present opportunities for buyers looking to take advantage of offers on the market below their Market Price.
Among the worst performers in the Burgundy 150, Domaine Georges Roumier, Bonnes Mares Grand Cru, 2014 has seen its price fall 27.5% year to date. Close behind is Domaine de la Romanée-Conti’s Romanee-Saint-Vivant Grand Cru, with both the 2013 and 2018 vintages experiencing substantial price decreases of 25.5%, and 21.7% respectively.
*data taken on 26/06/2023
Despite the overall downward trend, the Burgundy wine market still presents opportunities for collectors.
Currently there are £16.2m LIVE Burgundy offers on the exchange. Of these, 65.6% are Grand Crus, 20.0% are Premier Cru, 14.4% are village wines. Domaine de La Romanée-Conti has the highest value of offers, accounting for 19.8% of the total. It is followed by Leroy (11.0%) and Armand Rousseau (8.9%).
£2.6m of these offers are below Market Price, indicating potential value for those seeking attractive investment options.
Opportunities are not only limited to buyers – with £1m Burgundy bids live on Liv-ex, sellers are also able to take advantage of the current interest in the region. Recent trades show there is appetite for Burgundy wines, but at the right price.
Domaine de la Romanée-Conti, Romanée-Conti Grand Cru 2017 was last traded at £162,192, 26.9% below its current Market price of £222,000 per case. Likewise, Domaine Leflaive, Bâtard-Montrachet Grand Cru 2014 last traded at £12,000, 11.7% below its current Market Price of £13,599 per case.
There are currently 8,805 LIVE Burgundy opportunities on Liv-ex.
In case you missed it:
Here’s what we’ve been reading:
- Liv-ex: How one of the leading US retailers uses Liv-ex automation to source more wine, more efficiently
- The drinks business: Bordeaux primeurs: ‘Where is the magic?’
- Decanter: British wine industry increased plantings by 74% over the past five years
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 630+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 16,000 wines.
