- Burgundy rebounded this week, increasing its trade share by value to 23.5% after a dip to 14.1% last week.
- Wines from Bordeaux and Burgundy were among the top-traded by value this week.
- This week, Liv-ex published its Burgundy 2022 report, a report outlining the global wine trade’s predictions for 2024 report as well as a Market Update covering Jancis Robinson’s assessment of 2002 versus 2004 Champagne.
What’s happening in the secondary market?
Following a decline in its trade share last week, Burgundy reclaimed a portion of its market share, now holding 23.5% of regional trade by value. Key contributors to this comeback include Domaine Ponsot, which represented 13.3% of Burgundy trade, followed by Coche-Dury at 9.6% and Domaine Bonneau du Martray at 8.1%.
Champagne also saw an improvement, its trade share increasing from 8.1% to 10.2% this week. Nicolas Maillart, Platine Extra Brut NV was the top-traded wine by volume this week. Other popular wines from the region hailed from Egly-Ouriet, Jacques Selosse and Dom Pérignon.
Likewise, the USA saw its trade share rise to 5.5% with eight vintages of Harlan Estate trading on the exchange, propelling it to second place behind Château Mouton Rothschild as the top-traded producer for the week. Harlan 2020 is due to be released in the UK on the 16th of February at £16,200 per case. Coming in as the most expensive of the last ten vintages, but also the lowest-rated by Antonio Galloni, which may be influencing buyers to explore back vintages as an alternative option.
On the other hand, both Tuscany and Piedmont experienced a decline in their trade share, dropping to 9.1% and 3.2% respectively. Tuscany did see significant activity on the exchange in terms of volume, however, with two wines featured in the top traded list. Additionally, Sassicaia 2021 was released internationally at £2,500 per 12×75 this week. With 100 points from Monica Larner, it will be interesting to see whether it buoys Tuscany’s performance on the exchange next week.
According to Liv-ex’s Fair Value methodology, at this release price, Sassicaia 2021 sits well below the Fair Value line and is more affordable than the 2016 vintage, which also boasts 100 points from The Wine Advocate.
What were this week’s top-traded wines?
Despite Bordeaux experiencing a dip in its trade share, the region held three spots in the top-traded by value: Château Mouton Rothschild 2010, Le Petit Mouton de Mouton Rothschild 2021 and Carruades de Lafite, Pauillac 2021.
Additionally, two Burgundian wines featured among the top-traded wines by value: Domaine Ponsot, Clos de la Roche Grand Cru, Cuvée Vieilles Vignes 2019 and Coche-Dury, Meursault 2020.
Domaine Ponsot, Clos de la Roche Grand Cru, Cuvée Vieilles Vignes 2019 was released at £4,500 per 12×75 and has a current Market Price of £4,100 per case. The wine, which was scored 94 points by Neal Martin and 96 points by William Kelley, last traded 6.1% below its Market Price at £3,850 per 12×75.
In the spirits world this week, Macallan, Highland Single Malt The Harmony Collection Rich Cacao Sherry Seasoned Oak Casks, Speyside NV traded at £1,168 per 6×70 and Clase Azul, Reposado Tequila and Gold Tequila traded at £685 per 6×75 and £572 per 3×70 respectively.
Weekly insights recap
This week, Liv-ex published a report on the Burgundy 2022 En Primeur campaign. Additionally, a report covering the global wine trade’s predictions for 2024 was released. Both reports are available for all to read. Lastly, a Market Update for members covered Jancis Robinson’s assessment of 2002 versus 2004 Champagne.
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.
