- Bordeaux led the market, followed by Burgundy and Tuscany
- The 2018 and 2021 vintages of Lafite were amongst the top-traded wines of the week by value.
- This week, Liv-ex members were sent a Market Update on the possible future price movements of the Masseto index. The January Market Report has now been published for all members on a Silver+ package, with a one-page excerpt available for Bronze members.
Bordeaux had a strong week, taking a 40.7% share of traded value, up on its close last week at 33.4%. Château Lafite Rothschild was the region’s top-traded wine, with the 2018 and 2021 vintages featuring amongst the week’s top-traded wines by value. Château Haut-Brion followed, the 2021 vintage seeing multiple trades between £2,700 – £2,876 per 12×75, c.25% below its ex-château release price of €350 per bottle (equivalent to £3,583 per 12×75).
Château Haut-Brion Market Prices vs Jane Anson Scores
Burgundy’s share of trade fell from 19.2% last week to 17.6% this week. Domaine de la Romanée-Conti retook its place as the region’s top-traded producer after seeing minimal trade last week. The eponymous Romanée-Conti 2015, Échezeaux 2003 and La Tâche 2020 all changed hands.
Champagne’s share of trade also fell, closing at 11.0%. Armand de Brignac overtook Dom Pérignon and Louis Roederer as the region’s top-traded producer.
The Rhône had its strongest week in recent memory. The region closed with a 6.2% share of the market, thanks in part to trades of Domaine Jean Louis Chave, Hermitage Rouge 1990, Château Rayas 2010 and several vintages of E. Guigal Côte-Rôtie La Mouline.
Tuscany maintained its solid share of the market, overtaking Champagne to claim third place. Mazzei, Siepi was the region’s top-traded wine by value, followed by Tenuta San Guido’s Sassicaia and Marroneto’s Brunello di Montalcino Madonna Grazie.
The USA closed flat on last week, taking a 4.6% share. Harlan Estate was by far the region’s top-traded wine, accounting for almost 25% of traded value.
Breakdown of buyer geography
Following a succession of strong closes, US buyers took a back seat this week, taking a 33.5% share of purchasing. Still, they remained key players in some markets, accounting for 59.7% of Champagne buying and 42.6% of US wine buying.
Asian buyers played a larger role in the market this week, with a 10.3% share of purchasing. Their efforts were concentrated in Bordeaux, which accounted for 75.8% of their purchased value. The 2021 and 2017 vintages were most popular. Both vintages have taken price hits recently, often falling below ex-négociant and ex-château release prices.
European buyers were in the lead this week, taking a 36.0% share of buying. UK buyers fell back, taking 20.1%.
What were the week’s top-traded wines?
Château Lafite Rothschild 2018 was the top-traded wine of the week. It changed hands at £5,050 per 12×75, 6.4% below its ex-négociant release price, and 15.8% below its ex-London release price.
Liv-ex trades of Château Lafite Rothschild 2018
The 2021 vintage also featured amongst the week’s top-traded wines. While one of the lower-rated vintages of Lafite (95 points from Neal Martin (Vinous)), it comes in as one of the least expensive available on the market. This week’s trades took place between £3,810 and £3,844, just below its ex-château release price.
Domaine Jean Louis Chave’s Hermitage 1990 was the fourth top-traded wine by value. It changed hands several times between £12,960 and £14,000 per 12×75. While the wine trades relatively infrequently on the exchange, it continues to sell frequently at auction. Transaction prices are relatively volatile, but this week’s trades appear in line with 2020 prices.
Auctions and Liv-ex trades of Jean Louis Chave, Hermitage Rouge 1990
Top-traded wines by volume
Mazzei, Siepi 2018 featured amongst the week’s top-traded wines by both value and volume. It changed hands this week at £370 per 12×75 – its lowest ever transaction price. Receiving 97 points from Antonio Galloni (Vinous), 17+ from Jancis Robinson and 95 points from Monica Larner (The Wine Advocate), this may present interesting value to buyers looking for high quality:price ratios.
Weekly insights recap
This week, Liv-ex members were sent a Market Update on the possible future price movements of the Masseto index. The January Market Report has now been published for all members on a Silver+ package. All members can access a one-page summary here.
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.
