Bordeaux’s trade share fell week-on-week but it remained in the lead, buoyed by two Pomerols leading weekly trade.
- Bordeaux’s trade share fell week-on-week but it remained in the lead, followed by Burgundy and Champagne. The USA recorded an uptick.
- The most traded wines hailed from Bordeaux, California, Champagne, Tuscany and Piedmont.
- This week, Liv-ex published a Market Update highlighting the impact of trade tariffs on the fine wine trade.
What’s happening in the secondary market?
While Bordeaux maintained its lead over other regions in the secondary market, its trade share fell below 40% for the first time in recent weeks. Nonetheless, the region accounted for 33.8% of total trade by value, bolstered by two Pomerol wines leading weekly trade. Likewise, Burgundy came in second but saw its trade share fall from 24.8% to 18.6% this week.
The biggest winners from these declines were Champagne, whose trade share rose to double digits, and the USA, which recorded a dramatic rise from 2.2% to 12.6% of trade this week. The region was buoyed by two Californian wines featuring among the most-traded by value and volume (more on this below).
Tuscany and Piedmont both recorded a slight uptick in their trade shares, rising to 11.9% and 5.1% respectively. Both regions had wines featured on the list of most-traded wines by volume this week. On the other hand, the Rhone and the ‘Others’ category dipped week-on-week.
What were this week’s top-traded wines?
Two Pomerol wines led weekly trade, Le Pin 2005 and Petrus 2020, a fact rather unsurprising given their high Market Prices.
While Petrus 2020 last traded at £36,524 per case, far above its release price of £22,500 per 12×75, this is considerably below where the wine was trading in 2023. At the time, it was awarded a flurry of high scores, including 100 points from William Kelley (The Wine Advocate) and Lisa Perrotti-Brown MW (The Wine Independent). Is this critical acclaim enough to cushion the fall? Only time will tell.
Petrus 2020 trades on Liv-ex
Two Napa Valley wines waved the flag of the USA, buoying the country’s trade share. Opus One 2018 was among the most-traded wines by value and volume.
The wine was originally released at £2,760 per case, but has since been re-released on La Place de Bordeaux for £3,300 per case back in September 2023. Most recently, it traded at £2,772 per case, up slightly on its original release price.
Harlan Estate 2016 was the other Californian wine on the list, boasting three 100-point scores from Jeb Dunnuck, Lisa Perrotti-Brown MW and James Suckling.
It was another Bordeaux that led weekly trade by volume: Château Les Carmes Haut-Brion 2021,the latest 2021 wine to find a market after its release in bottle earlier this year. Despite its recent trading success, it’s worth noting that the wine’s Market Price is currently 8.5% below its release price of £948 per case.
Dom Pérignon 2013 featured both on the list of most traded wines by value and volume. The wine, which was the most traded by value in 2023, last traded at £1,496 per case, 18.3% below its release price of £1,830 per 12×75.
Last but not least, Tuscany and Piedmont had one wine each among the most-traded by volume this week: a Brunello di Montalcino, Azienda Agricola Salvioni La Cerbaiola 2012 and Vietti Barolo Castiglione 2019.
Weekly insights recap
This week, Liv-ex published a Market Update for members looking into the impact of tariffs on the fine wine market.
