Recent trading activity
Bordeaux led trade since last Friday (14th of April), accounting for 41.4% of total trade by value. Some of the most active wines were the Chateau Haut-Brion 2018 and 1990, Chateau Climens 2015 and 2016, and Chateau Margaux 2000 and 2008.
Champagne also rebounded over the weekend after a few weeks of subdued trade, coming in at 14.9% of the total. This uptick in activity was buoyed by the 2008 vintages of Taittinger, Comtes de Champagne Blanc de Blancs, Dom Perignon x Lady Gaga Rose, Bollinger R.D, Krug, Clos du Mesnil and Dom Perignon Rose.
The wines driving the Left Bank 200
With the En Primeur 2022 campaign on the horizon, performance of the Bordeaux 500 has been relatively stable. While all sub-indices of the Liv-ex 1000 are down year-to-date, the Bordeaux 500 fell the least (only 0.3%).
One of the sub-indices driving Bordeaux’s performance is the Left Bank 200, which is up 0.7% year-to-date and up 4.2% over the past year.
The chart below shows the wines in the Left Bank 200 which outperformed their parent index over the past year. Among the top performers, we find Duhart-Milon (up 13.7%), Calon-Segur (up 11.5%) and Ducru-Beaucaillou (up 10.7%).
Depending on the success of this year’s En Primeur campaign, many might look at back vintages to find better value.
Using Liv-ex’s Fair Value methodology, Duhart-Milon – the strongest performer of the Left Bank 200 over the past year – exhibits a strong correlation with age, as shown in the graph below.
The 2014 and 2015 vintages offer relative value compared to others, but buyers may want to consider any wines below the ‘fair value’ line.
Meanwhile, Ducru-Beaucaillou prices are 62% correlated to Neal Martin scores. Buyers looking for opportunities here may wish to consider the 2014, 2017 and 2018 vintages.
Liv-ex’s annual En Primeur report will be published this Thursday – stay tuned. Liv-ex members wishing to sign up for release alerts throughout the campaign can do so here.
There are currently over 154,709 LIVE Bordeaux opportunities on Liv-ex.
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 £100m of bids and offers across 16,000 wines.
Independent data, direct from the market.
