What’s happening in the market?
Burgundy’s trade share by value has increased since yesterday to 18.7%. Wines from Coche-Dury (specifically Coche-Dury, Corton-Charlemagne Grand Cru 2006 and Coche-Dury, Meursault 2020), Bouchard Père et Fils, and Mongeard Mugneret contributed to the region gaining a larger market share.
Bordeaux maintained yesterday’s top position, holding 41.0% of regional trade, with wines from Château La Mission Haut-Brion, Château Mouton Rothschild and Petrus among the most widely traded.
Champagne and Tuscany are closely competing for third position, holding 10.7% and 10.2% of the market respectively. Champagne has been buoyed by wines from Salon, Louis Roederer and Krug trading while Tuscany has seen wines from Ornellaia, San Guido and Cerbaiona changing hands.
Today’s deep-dive: Which Burgundy vintages are leading trade?
As the Burgundy 2022 vintage is trickling into the secondary market, several back vintages are actively trading.
Looking back at the last six months of Burgundy trade, three vintages stand out in terms of popularity: 2020, 2019 and 2018, in that order. These vintages led the way in terms of trade value, volume and the number of trades recorded.
Within the Burgundy 150, the 2018 and 2020 wines have the same average Neal Martin score of 95.8, while the 2019s sit on average 0.4 points lower. In terms of Market Price, however, the 2020s within the index recorded the highest average, over £6,200 more than the average Market Price of the 2018s.
The 2019s have also notably seen a 24.5% drop in their average Market Price from 2023 to 2022. The 2019 vintage in Burgundy was characterised by high quality and very low yields, which translated into high release prices and reduced allocations across the board, which may go some way towards explaining the price declines witnessed in 2023.
The most searched for Burgundy vintage by far in the last six months was 2019, followed by 2018.
However, looking at the most actively traded individual wines (LWIN11s), the 2018s and 2020s featured consistently as the frontrunners, leading both in terms of trade value and volume.
Top-traded LWIN11s by value
Top-traded LWIN11s by volume
Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche 2018 not only holds the top position in terms of value traded, it’s also the only Grand Cru to feature among the top five most traded Burgundy wines in the last six months. Interestingly, Joseph Drouhin, Montrachet Grand Cru Marquis de Laguiche was also the overall most-traded Burgundy LWIN7 over the same period.
The 2018 vintage has a comparatively lower average Market Price than the other wines within the Burgundy 150. It currently stands at £9,120 per case, having gradually increased over time.
The wine received 93 points from Neal Martin and 98 points from James Suckling. Jancis Robinson awarded the wine 19 points.
Joseph Drouhin, Montrachet Grand Cru, Marquis de Laguiche 2018 trades on Liv-ex
There are currently 4,514 LIVE bids and offers for 2018, 2019 and 2020 Burgundy on Liv-ex. Log in to the exchange to view them and trade.
In case you missed it
Here’s what we’ve been reading:
- Liv-ex: Château Pavie 2012 trades at £2,150 per case
- The Drinks Business: Liv-ex adds new technical tools to predict prices
- Financial Times: Is the UK still on course for a soft landing?
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.
