- Burgundy led the market, followed by Bordeaux, Champagne and Tuscany.
- Margaux 2010 and Lafite 2021 were the top-traded wines by value
- US members’ share of buying fell to just 15%
- This week, Liv-ex members were sent release analyses of Yquem 2022 and Latour 2016, and a Market Update synthesising Gavin Quinney’s Bordeaux 2024 weather and crop report.
Burgundy had its strongest week in recent memory, surpassing Bordeaux with a 31.7% share of traded value. Domaine du Comte Liger-Belair was the region’s top-traded producer, followed by Domaine Armand Rousseau.
Bordeaux took a 30.8% share of traded value, down from its close last week (41.1%). While Château Lafite Rothschild was the top-traded brand, Château Margaux 2010 was the top traded individual wine. Following its successful release earlier this week Château Latour 2016 featured amongst Bordeaux’s top-traded wines by value (read more here). Several UK merchants have reported their allocations selling out, speaking volumes to the importance of realistic release pricing.
Champagne saw another weak close, taking a 10.2% share of traded value. US buyers, who generally account for over half of Champagne purchasing, have continued to exercise caution following 200% tariff threats on EU wine, contributing to Champagne’s series of weaker closes.
While US buyers have drawn back, they continue to have a positive impact. The Rhône’s stronger week was driven by US purchasing (57.7% of the region’s traded value).
Both Tuscany and Piedmont saw relatively strong weeks. Soldera Case Basse 100% Sangiovese 2019 took Tuscany’s top spot, and Giacomo Conterno Monfortino Riserva 2006 took Piedmont’s.
The US closed with a 6.3% share of traded value, driven by trades of Screaming Eagle Oakville Cabernet Sauvignon. The 2022, 2018 and 2008 vintages all changed hands.
Breakdown of buyer geography: US purchasing dips further
US buying fell to just 15.0% this week, down from 27.4% last week and the 2024 average of 35.5%. This week, the European Union announced their decision to postpone their retaliatory tariffs (including the proposed 50% on US spirits) until the middle of April. The delay should provide more time for EU representatives to negotiate with the US. Uncertainty (rather than tariff imposition itself) can drive trade declines; once a final decision is reached and new business plans are drawn up by US merchants, we will have a better idea of the longer-term impact on the market.
European buyers accounted for over 40% of purchased value, concentrating their efforts in Bordeaux.
What were the week’s top-traded wines?
Château Margaux 2010 was the week’s top-traded wine by value, trading between £5,500 and £5,773 per 12×75. From Q4 2024 through February 2025, the wine traded infrequently around the £5,200 mark. This recent uptick in trade at a higher price point is a positive sign, indicating that prices are finding support around their 2020 lows. This appears to be a level at which both buyers and sellers are finding value.
Liv-ex trades of Margaux 2010
Château Lafite Rothschild 2021 followed in second place. While its price fell swiftly following its En Primeur release at £5,800 per 12×75. Buyers and sellers appear to have aligned around the £3,930 mark, at which it has traded consistently and frequently since the start of the year. While the 2021 is not a renowned vintage, it remains a well-rated wine (95 points from Neal Martin (Vinous) and Lisa Perrotti-Brown MW (The Wine Independent), 97 from Antonio Galloni), providing a less expensive opportunity for Lafite buyers.
Liv-ex trades of Lafite 2021
Top-traded wines by volume
Weekly insights recap
This week, Liv-ex members were sent a release analyses of Yquem 2022 and Latour 2016, and a Market Update synthesising Gavin Quinney’s Bordeaux 2024 weather and crop report.
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.
