Recent trading activity
Tuscany was among the leading regions in terms of trade over the weekend, with 21.7% of total trade by value. Tenuta San Guido Bolgheri Sassicaia 2019 and Antinori Chianti Classica Badia a Passignano Gran Selezione 2016 were particularly active.
Bordeaux led trade by a small margin, accounting for 30.84% of trade by value, buoyed by back vintages including Château Lafite Rothschild 2009, Le Pin 2015, Château Cheval Blanc 2019 and Château Mouton Rothschild 2019.
Opportunities in First Growths back vintages
The sharp increase in release prices during the 2022 En Primeur campaign may have some looking to back vintages of Bordeaux to find value.
While the quality of 2022 wines has been widely acknowledged by critics, many physical vintages with comparable scores are widely available on the secondary market, with some even entering their drinking window.
Looking specifically at First Growths, whose 2022 release prices were on average up 16.2% year-on-year (minus Château Latour which is not released En Primeur), buyers and sellers alike have been making the most of opportunities and trading back vintages of these wines from “great” years such as 1996, 1998, 2009 and 2010, to name a few.
Château Lafite Rothschild 2009, for example, last traded at £3,550 per 6×75, 9.0% under its current Market Price of £7,802 per case. Likewise, Château Margaux 1996, which received 100 points from Neal Martin and Jane Anson, last traded at £6,700 per case, 6.3% under its current Market Price of £7,150 per 12×75.
First Growths back vintages LIVE offers
Wine name | Vintage | Unit size | Offer (GBP) | Qty | Market Price (GBP) | Neal Martin score | 2022 release price |
Château Lafite Rothschild | 1998 | 12×75 | £8,000 | 1 | £7,935 | 96 | £7,150 |
Château Lafite Rothschild | 2009 | 12×75 | £7,800 | 1 | £7,984 | 96 | £7,150 |
Château Mouton Rothschild | 1996 | 12×75 | £5,680 | 1 | £5,750 | 95 | £6,216 |
Château Mouton Rothschild | 2009 | 12×75 | £6,240 | 1 | £6,240 | 97 | £6,216 |
Château Haut-Brion | 2010 | 6×75 | £3,550 | 2 | £6,980 | 97 | £6,180 |
Château Haut-Brion | 1998 | 12×75 | £5,535 | 2 | £5,900 | 96 | £6,180 |
Château Margaux | 2009 | 12×75 | £7,145 | 1 | £7,226 | 97 | £6,192 |
Château Margaux | 2010 | 6×75 | £3,329 | 1 | £7,100 | 94 | £6,192 |
There are currently £9.9m LIVE bids and offers on Bordeaux back vintages on Liv-ex. Log in to view them and trade.
In case you missed it:
Here’s what we’ve been reading:
- Liv-ex: Bordeaux dominates regional trade with 3 back vintages among most active wines
- The drinks business: What lies ahead for Champagne’s secondary market?
- Decanter: Bordeaux: Figeac 2022 released with 100-point potential
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.
