Burgundy led weekly trade, and Champagne enjoyed a good week as buyers stocked up on recent releases from the region.
- Burgundy led weekly trade, followed by Bordeaux and Champagne.
- The most traded wines hailed from Champagne, Tuscany, Burgundy and Provence.
- This week, Liv-ex published En Primeur release posts and a Market Update looking at the fine wine market in the wake of great Bordeaux vintages.
What’s happening in the secondary market?
For the first time in many weeks, Bordeaux was not the leading region in the secondary market. Burgundy led weekly trade with 29.2% of total trade by value, buoyed by wines from Domaine de la Romanée-Conti, Clos de Tart, Domaine Armand Rousseau and Domaine Bonneau du Martray changing hands.
Despite En Primeur releases still coming hard and fast, Bordeaux’s trade share fell from 33.8% to 26.7% this week. Interestingly, there were no wines from the region among the most-traded by value or volume, which would have contributed to Bordeaux’s tumble.
It was a good week for Champagne, the region coming in third with 17.2% of trade, a significant improvement from last week’s 12.8%. There were three Champagnes among the most-traded wines by value, two of which traded enough volume to make both lists. More on this below.
Tuscany remained perfectly flat week-on-week while Piedmont almost halved its trade share, falling from 5.1% to 2.6% this week. Likewise, after a strong week last week with two wines among the most traded by value, the USA fell from 12.6% to just 5.6% of total trade this week. The ‘Others’ category recorded a slight uptick to close the week at 4.0%, as did the Rhône which rose from 1.4% to 2.7% of trade.
What were this week’s top-traded wines?
Champagne was all the rage this week as the region boasted three wines among the top-traded by value: Louis Roederer Cristal 2015, Dom Pérignon 2013 and Salon Le Mesnil Grand Cru 2013. The first two also featured among the most-traded wines by volume.
Interestingly, these are all the most recent releases by Louis Roederer, Dom Pérignon and Salon, all of which were made available to the international market in 2023. Dom Pérignon 2013 was also the top-traded wine in 2023, closely followed by Cristal 2015.
Despite their trading success, all of these wines are currently trading below their release price. Dom Pérignon 2013 was released in January 2023 for £1,830 per case and is now trading around the £1,500 per 12×75 mark. Cristal 2015, which was released in April 2023 at £2,600 per case, has been on a downward trajectory since then and last traded at £1,842 per 12×75. Salon Le Mesnil Grand Cru 2013 was released in September 2023 at £10,980 per case and last traded at £8,520 per 12×75.
The trade volume behind these wines shows there is demand for them, but their release prices didn’t match buyers’ expectations or the downward market in which they were released.
Dom Pérignon 2013 trades on Liv-ex
Also on the list of top-traded wines by value and volume this week was Sassicaia 2021, which was released earlier this year at £2,500 per case. The wine, which boasts a 100-point score from The Wine Advocate’s Monica Larner, saw its Market Price rise above £3,000 since then before coming back down. It last traded at £2,800 per case, up 12.0% on its release price.
Domaine de la Romanée-Conti, La Tâche Grand Cru 2001 completed the list of most-traded wines by value. Several other wines from the domaine changed hands this week, including the 2010 Romanée-Conti Grand Cru and the 1995 Grands Echezeaux Grand Cru.
Over in the most-traded wines by volume, two familiar names completed the rankings. Domaine Tempier’s 2023 Bandol Rosé was one,last trading at £220 per 12×75. Back in April, the wine traded around the £280 mark. The other was Conti Costanti’s 2019 Brunello di Montalcino, which last traded at £744 per case.
The 2023 En Primeur campaign so far
After a week’s break, we were back to a full schedule of releases this week. The following wines covered by Liv-ex were released:
- Château Calon Ségur 2023, £936 per 12×75
- Château Gruaud Larose 2023, £716 per 12×75
- Pavillon Blanc du Château Margaux 2023, £2,880 per 12×75
- Pavillon Rouge du Château Margaux, £1,440 per 12×75
- Château Margaux 2023, £4,320 per 12×75
- Château Canon 2023, £1,074 per 12×75
- Château Rauzan-Ségla 2023, £720 per 12×75
- Château Les Carmes Haut-Brion 2023, £912 per 12×75
- Château Pavie 2023, £2,784 per 12×75
- Château Giscours 2023, £492 per 12×75
- Château L’Eglise-Clinet 2023, £2,508 per 12×75
- Château Pichon Baron 2023, £1,234 per 12×75
- Château Phélan Ségur 2023, £370 per 12×75
- Château Pichon Longueville Comtesse de Lalande 2023, £1,320 per 12×75
- Château Palmer 2023, £2,880 per 12×75
- Château Branaire-Ducru 2023, £386 per 12×75
To get a day-by-day breakdown of releases, fill in this form to see our Bordeaux En Primeur 2023 Key Prices.
Weekly insights recap
As well as exclusive En Primeur pricing analyses, Liv-ex members received a Market Update looking into the fine wine market in the wake of great Bordeaux vintages.
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.
