Recent trading activity
Looking at trading activity since last Friday, the Rhône has stepped up, currently holding 5.9% of regional trade by value after ending last week at 1.1%. This increase in trading activity can be attributed to the active trading of Château Rayas wines, including the 2009, 2011, 2000 and 2004 vintages. Interestingly, Château Rayas has exerted the most downward pressure on the Rhône 100 index year-to-date, with the 2011 vintage experiencing a substantial 42.3% decline.
Meanwhile, Bordeaux’s trade share has experienced a modest uptick, rising to 37.0% of total trade from its closing value of 33.7% last week. This increase was primarily driven by active trading of recent Pétrus vintages (specifically the 2020, 2019, and 2018). Additionally, Château Lafite Rothschild and Château Mouton Rothschild have seen active trading since last Friday.
La Place 2023 releases so far
Since the start of La Place’s 2023 Autumn Releases, Liv-ex has covered releases from various regions, including Argentina, South Africa, Chile, Tuscany, the Rhône, California and Bordeaux.
Out of these releases, eight wines were released at prices higher than that of their previous vintage. Hermitage La Chapelle 2021 stands out with the highest release price increase of 56.2%. Despite this, Almaviva 2021 and Masseto 2020 were both released at prices considered to be ‘Fair Value’ (see chart below), with Masseto 2020 already trading 0.9% above its release price on Liv-ex.
Five wines were released below their previous vintage’s release price. However, two of them, Inglenook Rubicon 2020 and Nicolás Catena Zapata 2020, were released at a premium compared to other vintages on the market.
Bibi Graetz Testamatta 2021 and Bibi Graetz Colore 2021 were released above the price implied by Liv-ex’s fair value methodology, meaning they fell above the Fair Value line (see chart below). Both of these wines have since traded below their initial release prices on the day they were made available.
Château de Beaucastel Hommage à Jacques Perrin 2021 is the only wine covered by Liv-ex that was introduced at a price lower than the previous year and is cheaper compared to other vintages on the market.
Y d’Yquem 2021, despite a 16.5% release price increase on the previous vintage, is still competitively priced compared to other vintages on the market.
There are currently 187 LIVE opportunities for Almaviva and 213 LIVE opportunities for Masseto on Liv-ex. Log in to the exchange to view them and trade.
In case you missed it
Here’s what we’ve been reading:
- Liv-ex: Château Latour 2011 released on La Place de Bordeaux
- Decanter: French wine harvest 2023: Bordeaux crop to shrink as Burgundy, Loire rise
- Reuters: UK economy stumbles in July as strikes and rain weigh
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 620+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 20,000 wines.
