What’s happening in the market?
Bordeaux has dominated trade share since Monday, taking 53.1% of total trade, up from 31.7% over the same time last week. This was largely driven by First Growths changing hands, including Château Lafite Rothschild 2018, Château Mouton Rothschild 2000 and Château Margaux 2005.
Bordeaux’s gain came at the expense of Champagne whose trade share has dropped to 9.9% in recent days.
The USA’s trade share increased from 2.0% to 5.2%, driven by trades of Marcassin, Marcassin Vineyard Pinot Noir, Sonoma Coast 2012, Screaming Eagle, Sauvignon Blanc, Oakville 2020 and Harlan Estate, Napa Valley 2008.
Today’s deep dive: Risers and fallers in the Burgundy 150
Over the last year, the Burgundy 150 has been the worst-performing sub-index of the Liv-ex 1000, falling 19.6%.
*made using the Liv-ex Charting Tool.
As we highlighted in a recent market update, white wines are driving the Burgundy 150 at the moment. Two vintages of Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche have been amongst the top-performing wines over this period – the 2017 and 2018 are up 27.4% and 13.3% respectively. Domaine Leflaive, Chevalier-Montrachet Grand Cru, 2016 has also increased by 27.4% over the last year.
At the opposite end of the spectrum, Domaine Georges Roumier, Bonnes Mares Grand Cru, 2019 and Domaine Armand Rousseau, Chambertin Grand Cru, 2013 have been amongst the worst-performers, with falls of 49.5% and 37.0%.
As shown in the chart below, both brands actually outpaced the Burgundy 150 index in the run up to the peak of the market in October 2022, but have been on a consistent downward trend since then. In Q1 2024, the Burgundy 150 index pulled back 2.4%, meanwhile Georges Roumier, Bonnes Mares fell 2.7% and Armand Rousseau, Chambertin fell 4.1%.
But does this present an opportunity for Burgundy lovers?
Currently there are £40.2m LIVE Burgundy offers on the exchange. Of these, 60.6% are Grand Crus, 21.3% are Premier Cru and 18.1% are village wines. Domaine de La Romanée-Conti has the highest value of offers accounting for 20.6% of the total. Armand Rousseau takes 5.7% and Georges Roumier 2.4%.
£13.5m of these offers are below Market Price, indicating potential value for those seeking attractive investment options.
Opportunities are not only limited to buyers. With £2.7m Burgundy bids live on Liv-ex, sellers are also able to take advantage of the current interest in the region. Recent trades show there is an appetite for Burgundy wines – at the right price.
There are currently 11,170 LIVE Burgundian opportunities on Liv-ex. Log in to your exchange to view them.
Our Bordeaux En Primeur 2023 page contains everything you need to know about this year’s campaign. You can also sign up for our daily En Primeur email alerts using the form below.
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.
