- Bordeaux led the market with a 44.4% share of traded value.
- US buying dipped to just 5.9% of traded value – down from a 35.5% share in 2024.
- Comte Georges de Vogue, Musigny 2018 and Château Mouton Rothschild 2021 were the week’s top-traded wines.
- Liv-ex members on Silver+ / Advanced packages now have access to the April Market Report (a breakdown of US tariff impacts) and the Bordeaux Opening Report.
Ahead of En Primeur 2024 tasting week, Bordeaux has taken a larger share of traded value than usual (44.4%, up on its close last week at 38.1%). The 2021 remains the top-traded vintage, with double the value of the next top-traded vintage (the 2016) changing hands.
Burgundy’s share of trade increased slightly, up from 22.9% last week to 23.9% this week. Domaine de la Romanee-Conti and Comte Georges de Vogue were the region’s top-traded producers, thanks to trades of the former’s Romanee-Conti Grand Cru and the latter’s Musigny Grand Cru.
Champagne’s share of traded value fell to just 5.9% — its smallest share of the market in recent memory. The region is likely suffering at the hands of tariff announcements. In Q1 2025, US buyers accounted for 46.8% of Champagne’s traded value. This week, they took only an 8.7% share.
The Rhone, another region generally supported by US buyers, saw similar losses, down from 2.8% last week to 1.1% this week.
Tuscany saw a slow start to the week but picked up to close with an 11.2% share of traded value. Sassicaia was by far the region’s top-traded wine, taking close to half of its traded value. The 2019 and 2020 vintages took the top spots.
Traded value fell 7.0% on last week, which itself was one of the weakest weeks of the year so far. This is likely due to US buyers pulling back, and other merchants concentrating their efforts on preparing for En Primeur tasting week.
Breakdown of buyer geography
It will not come as a surprise that US buying has slipped further. This week, they accounted for only 6.5% of purchased value, significantly down on the 2024 average of 35.5%. Silver+ members can read more – a comprehensive breakdown of effects of US tariffs on the secondary market – in the April Market Report.
UK buyers appear to have been responsive to rising uncertainty and volatility in global markets, exercising caution with their purchasing. Their share fell from 31.9% last week to 17.4% this week.
European buyers have stepped up, carrying the market with a 64.2% share of traded value, while Asian buyers held steady with a 12.0% share.
What were the week’s top-traded wines?
Comte Georges de Vogue’s Musigny 2018 was the week’s top-traded wine by value. It changed hands this week at £4,596 per 12×75 in single bottle format – down almost 50% on its peak. These trades mark a return to 2020 trade prices. With traded volumes increasing following a quiet 2024 and best bid now set slightly higher at £4,600, there is some indication that this may represent a floor.
Liv-ex trades of Comte Georges de Vogue, Musigny 2018
Château Mouton Rothschild 2021 came in second place. With its Market Price down 35.3% since its initial ex-London release at £5,100 per 12×75, we are seeing the first signs of price consolidation. It is trading consistently in April at higher prices than in March.
Liv-ex trades of Château Mouton Rothschild 2021
Top-trade wines by volume?
Weekly insights recap
This week, we kicked off our En Primeur campaign coverage, publishing the Liv-ex book, including the Bordeaux 2024 Opening Report, and pre-release analyses for 110 of the top châteaux for members on Expert-level packages. The Opening Report is now available for members on Advanced / Silver+ packages.
The April Market Report – a deep dive on the effects of US tariffs – was also published exclusively for Advanced / Silver+ members. All members were sent a Market Update on the top bid:offer ratios of the Liv-ex Fine Wine 1000.
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.
