As reported in Liv-ex’s 2022 Bordeaux En Primeur survey results 77% of merchants are anticipating more demand for the 2022 vintage than the 2021 campaign. However, almost all merchants qualified this by commenting that their answer very much depends on prices.
And with price rises ranging from 5% to 25%, the international trade is finding it challenging to sell many of the wines from this campaign.
Although price rises for great vintages are not uncommon, Liv-ex’s Fair Value methodology has shown that most releases do not offer a compelling proposition to buyers. As highlighted in our market analysis, for many of the releases buyers would have found better value buying back-vintages currently available instead of this year’s release.
For example, there are many opportunities among the 2020, 2019 and 2018 vintages that offer wines for lower prices and often with identical or better scores too.
The table below shows several releases that are currently offered LIVE on the Liv-ex trading exchange at discounts to their release prices.
*Prices shown are standardised to £ per 12×75 case. Data taken on 18.05.2023.
However, some wines are trading at small premiums to their release prices: Carruades de Lafite 2022 last traded at £2,735 per 12×75, a 21.2% premium. While Cheval Blanc 2022 traded at £6,376, a 10.7% increase.
As our analysis showed, these wines were released at prices that offered value against the physical secondary market. As such, demand was strong and some merchants reportedly sold out within a day of the release.
Another fairly priced release, Beychevelle, is yet to trade but is currently offered LIVE at an 19.3% increase on its release price.
*Prices shown are standardised to £ per 12×75 case. Data taken on 18.05.2023.
Our Bordeaux En Primeur 2022 page contains everything you need to know about this year’s campaign. You can also sign up for our daily En Primeur email alerts using the form below.
Liv-ex members can see the active markets for Bordeaux 2022 wines on the Liv-ex trading exchange.
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.
