- Bordeaux led the market with a 38.1% share of traded value, followed by Burgundy with 28.3% and Champagne with 12.2%.
- Petrus 2005, Latour 2009 and Sassicaia 2021 were the week’s top-traded wines by value.
- This week, Liv-ex members were sent a Market Update analysing the difference between trade prices and Market Prices under current vs. historical market conditions.
Bordeaux is again in the lead this week, taking a 38.1% share of traded value, up marginally from its close last week at 37.6%. The 2020 vintage traded most frequently and the 2019 in the highest volumes. While Château Latour 2009 and Petrus 2005 were amongst the top-traded wines of the week, Château Lafite Rothschild was the region’s top-traded wine across vintages.
Burgundy had a strong week, closing with a 28.3% share of the market. Domaine Leflaive was the region’s top-traded producer, followed by Domaine de la Romanée-Conti and Coche-Dury.
While down on its November close at 16.4%, Champagne reclaimed third place over Tuscany with a 12.2% share of traded value. The 2011 and 2013 vintages of Taittinger, Comtes de Champagne, Blanc de Blancs featured amongst the week’s top-traded wine by volume.
Both Tuscany and Piedmont took a back seat, leaving Italy with a total 11.1% share of the market. Super Tuscans took the majority of the country’s trade, with Sassicaia, Tignanello and Ornellaia in the top spots.
The USA also had a weaker close than last week, taking a 2.9% share of traded value. Opus One 2021 was the region’s top-traded wine by value, changing hands several rimes around the £2,650 per 12×75 mark — 11.5% below its initial release via La Place at £2,995 earlier this year.
Breakdown of buyer geography
Both the USA and the UK were flat on their closes last week, accounting for 41.0% and 27.3% of buying respectively. European buyers increased their share from 22.0% to 26.0%, while Asian buyers took a back seat, accounting for only 5.7% of purchased value.
What were the week’s top-traded wines?
Petrus 2005 came in as the week’s top-traded wine by value. This week, the wine traded at £35,588 per 12×75, similar to its trade prices in 2021. Its Market Price had held near its 2022 peak until earlier this year, falling 18.3% down from £45,000 in August to £36,770 in December.
Liv-ex trades of Petrus 2005
Château Latour 2009 was the second top-traded wine by value. It traded this week in 6×75 format at around £8,000 per 12×75 and in 3×75 format (rarer and generally sold at a premium) at £9,804. The wine was re-released this year ex-London at £11,000 per 12×75. As we reported here, this was 16.0% above its Market Price at the time (£9,480). The wine’s Market Price has since fallen 10.3% down to £8,500.
Technical analysis of Latour 2009
In January this year, Latour 2009’s 20-month Simple Moving Average (SMA20) crossed below its 50-month SMA. Commonly referred to as a ‘death cross’, this pattern is a likely predictor of future price decreases. Since then, prices have indeed fallen. Recent developments in the wine’s technical indicators, however, are more positive. The Lower Bollinger Band has flattened, indicating decreased volatility. Coinciding with the wine’s 2015 lows, this lower band may provide prices with some dynamic support above the £8,000 mark. Additionally, the Relative Strength Index has bounced from the 30-line (the level at which a wine is considered oversold), and now following an upward trend, creating the beginnings of a bullish divergence.
Top-traded wines by volume
The 2011 and 2013 vintages of Taittinger, Comtes de Champagne, Blanc de Blancs took the first and fourth top spots amongst the week’s top-traded wines by volume. Trade prices of the 2011 vintage have been trending upward since May this year – uncommon in current market conditions. The wine traded this week between £950 and £992 per 12×75. One double magnum (300cl) also changed hands this week for £450. Equivalent to £1,350 per 12×75, this marks a c.40% premium to 75cl format.
Liv-ex trades of Taittinger, Comtes de Champagne, Blanc de Blancs 2011
Sassicaia 2021 was the third top-traded wine by value and fifth top-traded by volume, changing hands in high volumes at £2,506 per 12×75. For most wines, US Benchmark prices sit a good clip higher than those in the UK and Europe. Sassicaia 2021 is an exception to this rule, its US Benchmark sitting marginally above its Market Price of £2,500.
Regional Benchmarks of Sassicaia 2021
Weekly insights recap
This week, Liv-ex members were sent a Market Update analysing the difference between trade prices and Market Prices under current vs. historical market conditions.
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.
