- Bordeaux regained its position at the top to hold 45.0% of total trade. Tuscany surpassed both Burgundy and Champagne with 18.8% of the total.
- The most traded wines by value and volume were dominated by Bordeaux and Tuscany.
- This week, Liv-ex published a Market Update covering the most popular ‘Dragon’ wines for Chinese New Year and one looking into how well the wine trade predicted 2023.
- The Liv-ex 100 index was updated, and analysis of the wines influencing the index was published.
What’s happening in the secondary market?
During the first week of 2024, Bordeaux reclaimed its position at the top to hold 45.0% of total trade by value, up from the previous week’s share of 29.2%. In contrast, Burgundy lost some momentum, concluding the seven days ending on January 4th at 9.34%, marking the most substantial decline out of the regions for the week.
Tuscany came in second this week, surpassing both Burgundy and Champagne to secure 18.8% of regional trade by value. The region was buoyed by the trading of Masseto 2020, along with the 2016 and 2019 vintages of Sassicaia.
Champagne and the USA recorded small upticks in their trade shares, accounting for 12.8% and 4.6% of the total respectively.
Conversely, the Rhône, Piedmont, and the ‘Others’ category all experienced setbacks, falling to 3.1%, 2.8% and 3.6% of total trade respectively.
What were this week’s top-traded wines?
This week’s top-traded wines were dominated by Bordeaux and Tuscany, each region boasting two wines among the best performers in terms of trade value. Furthermore, Tuscany claimed three spots in the top traded by volume. The final spot in the top traded by value was claimed by Burgundy’s Domaine Armand Rousseau, Chambertin-Clos de Bèze Grand Cru 2021.
The two Tuscans at the top were Masseto 2020 and Sassicaia 2016. Masseto 2020, released back in September on La Place de Bordeaux, was offered internationally at a price ranging between £6,800 and £7,000 per case. While the ex-négociant price was up 9.4% on the 2019 release, the wine still presented relative value compared to other vintages in the market. The current Market Price for Masseto 2020 is £6,410 per case, with a last trade price of £6,048 per 12×75. At this price, the wine now firmly sits below the Fair Value line.
Masseto, Toscana 2020 trades on Liv-ex
Fellow Super Tuscan Sassicaia 2016 also secured a position among the most traded wines by value, with the 2019 vintage claiming a spot in the most traded by volume. Since its release, the 2016 vintage has experienced a steady increase in value. Released at £2,160 per case, it was last traded at £3,898 per 12×75. The chart below shows it currently has a narrow spread, with last trade, best live bid, best live offer and the wine’s Market Price all aligning closely.
Tenuta San Guido, Bolgheri 2016 trades on Liv-ex
Weekly insights recap
This week, Liv-ex published a Market Update for members outlining the most popular ‘Dragon’ wines for Chinese New Year and one looking into how well the wine trade predicted 2023 based on a survey done last year. The Liv-ex 100 index was also updated, and analysis of the wines driving the index was published.
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 20,000 wines.
