Each Friday, we analyse activity on the fine wine market in our weekly ‘Talking Trade’ post. Highlights this week included:
- Champagne, the USA and the ‘others’ made the most substantial gains this week.
- Domaine de la Romanée-Conti Romanée-Conti Grand Cru 2012 led weekly trade by value.
- Weekly insights included analysis on Masseto, the most in-demand Burgundy vintages and Walter Speller’s favourite Barolo 2019s.
Regional trade this week
Secondary market trade for USA wines has been rising. So far in 2023, the USA (10.7%) has become the third-most traded region by value, after Bordeaux and Burgundy, surpassing Champagne (10.5%).
Its weekly trade share increased once again, from 9.3% to 12.7%. The 2020 and 2019 vintages were the most popular, while Screaming Eagle, Promontory and Opus One were the leading labels.
Champagne also increased its trade share, taking 11.6% of the market by value. Trade within the region was led by Louis Roederer Cristal 2008 and Salon Le Mesnil-sur-Oger Grand Cru 2002.
The Rhône (2.7%), Tuscany (4.7%), Piedmont (2.4%) and the ‘others’ (4.5%) also made gains. Trade within the latter was dominated by Australia (1.4%) and Spain (0.9%).
This week, Bordeaux and Burgundy’s shares declined to 31.2% and 30.2% respectively. However, some of the top traded wines by value came from these regions.
This week’s top traded
Domaine de la Romanée-Conti Romanée-Conti Grand Cru 2012 led this week’s trade by value. At the time of writing for the Wine Advocate, Neal Martin awarded this wine a near-perfect score of 99 points.
He revealed that only 350 cases were produced and that ‘the 2012 Romanée-Conti is one of the most spellbinding that I have tasted since I began 17 years ago’. The wine last changed hands at £233,792 per 12×75 case (packed as 3×75).
Château Beychevelle 2019 was the second-most active wine by value this week, with a last trade price at £980 per 12×75, up 48.9% on its release price. Beychevelle prices show 54% correlation to age. As the chart below shows, older vintages that might offer value to buyers include 2007 and 2016. Liv-ex members can explore more on our Fair Value tool.
*made using the Fair Value tool
Another Bordeaux representative, Château Lynch-Bages 2000 wasalso in the trading spotlight. Its last trade price represented a 545.6% increase on its release price (£395 per 12×75).
Château Lynch-Bages 2000 trades on Liv-ex
Weekly insights recap
This week we published a case study of how one négociant sourced opportunities, simplified logistics and gained leverage in negotiations thanks to Liv-ex.
Liv-ex members received analysis on the most in-demand Burgundy vintages, the Masseto vintages offering value and Walter Speller’s favourite Barolo 2019s.
Not a member of Liv-ex? Request a demo to see the exchange and a member of our team will be in touch with you shortly.
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.
