What’s happening in the market?
Looking at trading activity since last Friday, Burgundy has surged ahead, accounting for 32.4% of the regional trade share by value, surpassing Bordeaux which currently holds 30.5% of the total trade value.
Burgundy’s performance can be attributed to the trading of wines from Joseph Drouhin and Domaine du Comte Liger Belair. Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche 2018 is currently the most traded wine by value and volume since Friday, and set an all-time high trade price of £9,000 per case.
Meanwhile, Bordeaux’s trade share was mainly driven by wines from Château Lafite Rothschild, as well as trade of the 2010 and 2017 vintages of Pétrus.
Today’s deep-dive: The most sought-after Burgundy wines
In September, the Burgundy 150 index was the weakest sub-index of the Liv-ex Fine Wine 1000, recording a 2.1% decline. This year, it has had a tough run, dropping by 12.7%, underperforming the Liv-ex 1000 which has declined by 10.4% year-to-date. In this update, we explore the most sought-after Burgundy wines and identify where opportunities in the region might lie.
Which Burgundy 150 wines were the most in-demand in Q3?
The most in-demand wines in the Burgundy 150 during Q3 2023 varied across vintages, with the 2015 and 2016 vintages slightly more prevalent than others. One particular label stood out, Domaine Comte Georges de Vogue, Musigny Grand Cru Cuvée Vieilles Vignes, with four vintages making it to the top of the list: 2020, 2014, 2013 and 2012, possibly due to its lower average Market Price compared to other sought-after Burgundy labels.
One such label is Domaine Armand Rousseau, Chambertin Grand Cru, whose 2016 vintage was the most in-demand wine in Q3 in terms of bids, with a Market Price of £37,500 per case.
Which Burgundy 150 wines were the most searched-for on Liv-ex in Q3?
Unsurprisingly, all the most searched-for wines on Liv-ex in Q3 hailed from Domaine de la Romanée-Conti, the most famed Burgundy estate. Among them, the 2019 vintage stood out with three of the most searched-for wines.
By label, Domaine de la Romanée-Conti, La Tâche Grand Cru dominated the rankings. It is the second-most expensive label in the Burgundy 150 and from the Domaine, coming in behind Romanée-Conti Grand Cru, which has an average Market Price four times that of La Tâche Grand Cru.
Which Burgundy 150 wines were the most traded in Q3?
Looking at trading activity, the 2019 vintage was the most traded by value, while the 2020 vintage dominated by volume. By label, it was far more evenly distributed. Notably, Domaine de la Romanée-Conti’s Romanée-Conti Grand Cru, with the highest average Market Price, sat at the top in terms of trade value. Conversely, Domaine des Lambrays’ Clos des Lambrays Grand Cru, with the lowest average Market Price among the labels considered, claimed the top spot by volume. The 2018 vintage received 97 points from Neal Martin and has experienced a 15.6% increase in its Market Price since its release.
Domaine des Lambrays, Clos des Lambrays Grand Cru 2018 trades on Liv-ex
How are Burgundy 150 wines trading in relation to their Market Price?
The Burgundy 150 index peaked in October 2022. In the lead-up to this peak, during Q2 2022, trades of these wines occurred 1.02% below Market Price on average. This trend accelerated in subsequent quarters, with trades occurring at their lowest point in Q2 2023, on average 6.68% below Market Price.
As the Burgundy 150’s Market Prices corrected themselves following their peak in October 2022, trades in Q3 2023 happened at a much narrower level of only 0.95% below Market Price. This decrease in the gap between trade prices and Market Price suggests a potential stabilisation in the Burgundy market, as Market Prices have adjusted.
With that said, there are currently 9,923 LIVE offers for Burgundy wines on Liv-ex. Log in to the exchange to view them and trade. Additionally, you can use the new ‘Save to List Studio‘ function to add these wines to a custom list (e.g. a ‘wish list’ or ‘watch list’) to which you can return at any time.
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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.
