Recent trading activity
Bordeaux has stepped up after a better trading day on Tuesday, now holding 34.4% of regional trade by value in comparison to the 30.2% on Monday. Leading the Bordeaux charge are Château Lafite Rothschild and Château Mouton Rothschild.
While Champagne’s share of trade has dipped slightly to 24.1%, it has maintained its lead in terms of individual wine activity since last Friday. Dom Pérignon 2013 and Louis Roederer Cristal 2015 continue to dominate the rankings. The former is still the most actively traded wine since the beginning of the year.
La Place 2023 – Pricing trends upwards
Last Thursday, our coverage of La Place releases began with Hermitage La Chapelle 2021. This release marked a substantial 56.2% increase compared to the previous year’s release price.
This price hike begged the question of whether La Place releases will mirror the trend of price increases implemented during the En Primeur campaign earlier this year or whether the higher price for Hermitage La Chapelle 2021 was an anomaly that could be attributed to the wine’s introduction on La Place and its recent name change.
Which wines have been released on La Place so far?
In addition to the new vintage release, Hermitage La Chapelle made some of its back vintages available on La Place, namely the 2006, 2011, and 2013.
Due to a difficult 2020 harvest, Opus One also opted for a library release of its 2018 and 2019 vintages, along with its second wine, Overture. Interestingly, this release had a notable impact on the secondary market, with bid and offer prices steadily decreasing since then. Post-release, the 2018 vintage even traded 9.0% below Market Price at £2,888 per 12×75, significantly lower than its re-release price of £3,300 per case.
Opus One 2018 trades on Liv-ex
We have also seen the release of Vin de Constance 2020, Clos Apalta 2020 and Almaviva 2021, all of which have been released at a premium to back vintages available on the market.
The wines below have also been released through La Place de Bordeaux, some priced at a premium compared to their previous vintage including Le Serre Nuove dell’Ornellaia 2021 (+48.8%), Bodegas Caro 2021 (+5.6%) and Favia, Cabernet Sauvignon, Coombsville 2020 (+23.2%).
However, some wines such as Pierre Graffeuille, Odyssée 2020 have bucked the trend and released at a discount relative to the previous year.
It’s too early to tell how the rest of the campaign will unfold, but we will be monitoring release prices and looking into the impact of these releases on the secondary market.
There are currently 234 LIVE opportunities for Opus One, 398 LIVE opportunities for Hermitage La Chapelle and 143 LIVE opportunities for Almaviva on Liv-ex. Log in to the exchange to view them and trade.
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.
