What’s happening in the market?
Bordeaux has led trade since start of the week, taking 36.1% of trade share by value since Monday, driven by trades of Château Margaux 2014 and the First Growths.
Champagne has taken 12.8% of trade by value so far this week, with Jacques Selosse, Millesime 2008 being the top-traded wine by value since Monday. Pol Roger, Sir Winston Churchill 2006 and Philipponnat, Clos des Goisses 2005 also changed hands.
Meanwhile, the US has been buoyed by trades of Promontory, Napa Valley 2017 and Ridge, California Cabernet Sauvignon Monte Bello, Santa Cruz Mountains 2017.
Today’s deep dive: Which wines are driving the Left Bank 200 index?
With the En Primeur 2023 campaign rapidly approaching, we take a look at the sub-indices driving the performance of the Bordeaux 500 index, which has pulled back 13.8% over the last year.
One of the sub-indices outperforming this index is the Left Bank 200, down just 11.4% over the same one-year period.
The chart below shows the wines in the Left Bank 200 which outperformed their parent index over the last year. Amongst the top-performers are Château Gruaud Larose (- 2.6%), Château Leoville Poyferre (-5.4%) and Château Smith Haut Lafitte (-5.8%).
Depending on the success of this year’s En Primeur campaign, many might look at back vintages to find better value.
Château Leoville Poyferre prices are 65% correlated to Lisa Perrotti-Brown MW (The Wine Independent) scores. Buyers looking for opportunities here may wish to consider the 2020, 2019, and 2015.
You can quickly compare other back vintages and spot trading opportunities from the Left Bank using this ready-made list in List Studio.
For example, Ducru-Beaucaillou 2010 is currently offered live for £1,000 per 6×75, a 6.8% discount on its Market Price. Or for sellers, there are live bids on Château Leoville Las Cases 2009, Château Palmer 2010 ,Château Grand-Puy-Lacoste 2012 and more….
There are currently over 7,171 LIVE Bordeaux offers on Liv-ex. Log on to your exchange to view them.
Liv-ex’s En Primeur opening report ‘Bordeaux 2023: In the balance’ is currently available exclusively to members – read it here.
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