Recent trading activity
Bordeaux maintained a commanding share of trade (37.0%) at the start of the week. Burgundy trade dropped after the weekend from 18.6% to 12.3%, with Champagne staying ahead on 16.2%.
With the usual demand for Bordeaux, Champagne and Tuscany, there was also trade for a number of wines from more diverse origins.
Among them were Loire estate Clos Rougeard 2016, Australia’s Penfolds Bin 389 2020 and Spain’s R. Lopez de Heredia’s Tondonia 2009.
The broadening market from the USA to Asia
The chart above shows where Liv-ex members have focused their buying activity so far this year. It stands in stark contrast to the situation in 2019, which shows a far narrower focus on Bordeaux and Burgundy.
The UK and USA in particular have broadened their horizons and pulled back from buying Bordeaux.
The UK already had the lowest demand for Bordeaux in 2019, representing 37% of trade. This has dropped further year-to-date (to 25%). Demand for Burgundy has remained the same, while there have been major increases for Champagne, Italy and US wines.
US buyers appear to have shifted in all areas. Bordeaux trade has fallen from 47% to 29% of the total market, with rising demand for Burgundy, the Rhône and domestically produced labels as well.
The European market is still geared predominantly towards Bordeaux (though buying has fallen here too) but has clearly shown an increased appetite for Burgundy and Champagne.
And Asia has certainly scaled down its Bordeaux buying (falling from 66% of the market in 2019 to 36% year-to-date) in favour of Burgundy (up from 16% to 37%) but its broadening has been less remarkable than in other regions.
Opportunities to buy fine wine
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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 600 merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.
