What’s happening in the market?
Bordeaux maintained its strong position from last Friday though to this Monday, holding 30.0% of total trade by value. Wines such as Château Lafite Rothschild 2009 and Petrus 2019 are continuing to drive activity on the exchange.
In second place, Burgundy held 28.8% of total trade, buoyed by Domaine Arnoux-Lachaux, Romanee-Saint-Vivant Grand Cru 2019 and Domaine Bonneau du Martray, Corton-Charlemagne Grand Cru 2020.
Champagne took 12.6% of total trade by value, up from 8.5% last weekend. This momentum was led by Taittinger, Comtes de Champagne Blanc de Blancs 2013 and Salon, Le Mesnil Grand Cru 2012.
The wines driving the Right Bank 50
With the En Primeur 2023 campaign on the horizon, we take a look at the sub-indices driving the performance of the of the Bordeaux 500 index, which has pulled back 3.1% since the start of the year.
One of the sub-indices contributing to this fall is the Right Bank 50 which tracks the performance of five leading wines from Bordeaux’s Right Bank: Lafleur, Le Pin, Petrus, Ausone and Cheval Blanc. These properties are often seen as the equivalents of the Left Bank’s First Growths.
*made using the Liv-ex Charting Tool.
Over a one year period, the Right Bank 50 is the worst-performing sub-index of the Bordeaux 500, down 16.6%. The decline in this period was driven by two vintages from Petrus, 2019 (-35.4%) and 2020 (-30.6%), as well as Château Lafleur 2019 (-29.9%), Château Ausone 2014 (-27.4%) and Le Pin 2011 (-27.4%).
The Right Bank 50 index has dropped by 4.9% since the start of the year. However, amongst its top five performers were three vintages from Petrus; 2011, 2017 and 2020.
Petrus 2020 boasts 100-points from William Kelley (The Wine Advocate) and Lisa Perrotti-Brown MW (The Wine Independent). It last changed hands at £34,000 per 12×74, a 19.4% discount on its Market Price (£42,178/cs).
The 2017 is also available to buyers at a 19.5% discount to its Market Price, it last traded at £24,140 per 12×75.
Petrus 2017 trades on Liv-ex
There are currently over 421 LIVE Petrus opportunities on Liv-ex. Log in to the exchange to view them.
The table below is perhaps unsurprising considering that Petrus has an average trade price of £38,189 per 12×75. Year-to-date, Château Cheval Blanc is the second most traded producer amongst those which make up the Right Bank 50.
The 2010, with 100-points from Lisa Perrotti-Brown MW (The Wine Independent) and Jeb Dunnuck (jebdunnck.com), was Cheval Blanc’s most traded vintage in the first quarter of 2024, followed by the 2000and the 2020. The 2010 last traded at £7,700 per 12×75, a 12.5% discount on its current Market Price of £8,799 (12×75).
There are currently over 879 LIVE Pomerol opportunities and over 1242 LIVE Saint-Emilion Grand Cru opportunities on Liv-ex. Log in to the exchange to view them.
In case you missed it
Here what we’ve been reading:
- Liv-ex – The Liv-ex 100 rises for the first time in a year
- The Financial Times – Investors lose hope of rapid US interest rate cuts this year
- Decanter – Burgundy wine stocks rise after ‘generous’ 2023 vintage
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.
