- Bordeaux further strengthened its lead of the market, followed by Burgundy, Champagne and Tuscany.
- Marquis de Laguiche 2022 and Château Lafite Rothschild 2020 were the week’s top-traded wines by value.
- This week, Liv-ex members were sent a Market Update on the Ornellaia index, and an analysis of the Liv-ex Fine Wine 50’s bid:offer spread, which recently hit a two-year low.
Bordeaux has continued to strengthen its lead of the market, taking a 42.4% share of traded value, up from 40.5% last week. While the 2020 and 2021 vintages were the top-traded by value and volume, the 2016 and 2018 vintages traded most frequently. Château Lafite Rothschild was the region’s top-traded wine, with 13 vintages changing hands.
Burgundy’s share of trade increased from 17.0% last week to 20.7% this week. Joseph Drouhin was the region’s top-traded producer, buoyed by Marquis de Laguiche 2022, the week’s top-traded wine by value.
Though Dom Perignon 2015 featured amongst the top-traded wines by both value and volume, Champagne had a weaker week, taking a 12.6% share of traded value.
Tuscany took a 7.9% share of traded value. Ornellaia 2021 was the region’s top-traded wine, ahead of the release of the 2022, which is expected to be released in the coming weeks. In December 2024, trade prices dipped to c.£1,450 per 12×75, but have since picked back up to c.£1,600.
Taking only 3.8% of traded value, the US’s market share continued to decline. Opus One traded actively, with US buyers accounting for the majority of purchased value.
Breakdown of buyer geography
US buyers were back in full force this week, despite the dollar weakening against Pound Sterling. Their buying efforts were concentrated in Bordeaux, Burgundy and Champagne, while also demonstrating some interest in Australian wines.
Asian buyers accounted for 12.2% of purchasing, up slightly on their share last week and in January. Bordeaux accounted for 63.7% of their purchased value, with the 2021 and 2017 vintages proving most popular. While the First Growths (particularly Château Lafite Rothschild and Château Latour) are usually most in demand by this segment, Petrus was the top-traded brand amongst Asian buyers this week.
What were the week’s top-traded wines?
Joseph Drouhin’s Marquis de Laguiche 2022 was the week’s top-traded wine by value. It traded relatively frequently around the £6,200 per 12×75 mark, 11.4% below its ex-London release price (£7,000).
Trade of Château Lafite Rothschild 2020 has picked up significantly since the start of the month. Year-to-date, more than half of the total volume traded in 2024 has already changed hands. Its trade prices sit between its ex-château and ex-negociant release prices (€ 375 and €475/btl, represented by the black lines on the chart below).
Liv-ex trades of Château Lafite Rothschild 2020
Château Margaux 2021 followed in third place. This week, it traded around the £3,000 per 12×75 mark, 16% below its ex-château release price. Margaux is not alone in this; of the 44 Bordeaux 500 components hailing from the 2021 vintage, 30 last traded below their ex-château release price, 35 below their ex-negociant release price, and 41 below their ex-London release price. US and Hong Kong regional benchmarks sit much higher than UK and EU prices of Margaux 2021 – stockholders from these regions may still be finding value from their En Primeur purchases.
Regional Benchmarks of Château Margaux 2021
Top-traded wines by volume
Produttori del Barbaresco, Barbaresco 2021 was the top-traded wine by volume this week. It changed hands several times at £180 per 12×75, its lowest-ever trade price. As one of the better-rated rated and less expensive recent vintages, the 2021 may present value to buyers.
Produttori del Barbaresco
For the second week in a row, Dom Perignon 2015 featured amongst the week’s top-traded wines by both value and volume. It held steady at last week’s trade price — £1,360 per 12×75.
Weekly insights recap
This week, Liv-ex members were sent a Market Update on the Ornellaia index, and an analysis of the Liv-ex Fine Wine 50’s bid:offer spread, which recently hit a two-year low.
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.
