- Bordeaux led the market with a 37.6% share of traded value, followed by Burgundy with 21.2% and Champagne with 9.5%.
- Château Pichon-Baron 2016, Ornellaia 2021 and Giacomo Conterno, Barolo Monfortino Riserva 2013 were the top three wines by traded value.
- This week, Liv-ex published its annual trade review: The Fine Wine Market in 2024 – freely available to all. The December Market Report was published for all members on a Silver+ package – an excerpt is available here for all members. Members were sent an additional analysis of the Power 100’s top 10 price performers.
After coming in second to Burgundy last week, Bordeaux has regained its lead of the market, taking a 37.6% share of traded value.
Burgundy took a 20.7% share of the market, just shy of its November average of 21.8%. Domaine Leroy overtook Domaine de la Romanee-Conti as the region’s top-traded producer, with several cuvées and vintages changing hands. Leroy’s Vosne-Romanee Les Beaux Monts 2011 traded in OWC at £35,882, up 28.2% on its last trade in September.
Champagne’s share of trade fell considerably – down from 18.1% last week to 9.5% this week.
Tuscany and Piedmont both had strong weeks, closing with an 11.2% and 6.6% share of trade respectively. Piedmont had one representative amongst the top-traded by value – Giacomo Conterno’s Monfortino Riserva 2013, while Tuscany had two – the 2021 vintage of both Ornellaia and Masseto.
Regional breakdown of buyer geography
US buyers had another strong week, closing with a 41% share of purchasing and bringing their year-to-date share up to 35%. Week-on-week, US trade value is up 56%. European and Asian buyers held their share flat on last week, while UK buyers stepped down from 32% to 27%.
What were the week’s top-traded wines?
Château Pichon-Baron 2016 came in as the top-traded wine of the week by both value and volume. As can be seen clearly in the chart below, trade prices have only once fallen below the £1,100 per 9l mark. Interestingly, this trade (in October this year) was of magnums – marking a significant discount, rather than the expected premium. This week, it traded in high volumes at £1,192 per 12×75.
Liv-ex trades of Château Pichon-Baron 2016
Ornellaia 2021 was the second top-traded wine by value and third top-traded by volume. In lower volumes it changed hands between £1,428 and £1,456 per 12×75, and in higher volumes, at £1,482. This week’s trades represent the wine’s lowest ever trade prices, c.20% below its ex-London release price (£1,850 per 12×75).
Regional Benchmarks of Ornellaia 2021
Masseto 2021 joined its stablemate in the top five, trading between £5,720 and £6,216 per 12×75.
Lafite 2008 came in just behind the week’s top-traded wines in sixth place. While this week’s trade price (£5,205 per 12×75) marks a return to 2015 lows, it remains well above its ex-London release price of £1,850. Lafite released the 2009 vintage at nearly five times the price of the 2008 — £11,000 per 12×75.
Liv-ex trades of Château Lafite Rothschild 2008
Top-traded wines by volume
Charles Heidsieck’s non-vintage Brut Reserve featured amongst the week’s top-traded wines by volume. While its trade prices slipped slightly in October, down to c.£240 per 12×75, the wine has otherwise demonstrated impressive price stability. This week, it traded in high volumes in magnum format at £282 per 6×150.
Liv-ex trades of Charles Heidsieck Brut Reserve NV
Weekly insights recap
This week, Liv-ex published its annual trade review: The Fine Wine Market in 2024 – freely available to all. The December Market Report was published for all members on a Silver+ package – an excerpt is available here for all members. Members were sent an additional analysis of the Power 100’s top 10 price performers.
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 £140m of bids and offers across 20,000 wines.
