Bordeaux led weekly trade with only one wine among the most traded by value. Is this the calm before the storm of the En Primeur 2023 campaign?
- Bordeaux led weekly trade, followed by Burgundy. Tuscany, Piedmont, the USA, the Rhone and the Others category all saw their trade shares rise.
- The most-traded wines by value hailed from Burgundy, Bordeaux, Tuscany and California.
- This week, Liv-ex published its April Market Report, Bordeaux 2023 En Primeur opening report and two market updates.
What’s happening in the secondary market?
While Bordeaux still led weekly trade, the region’s trade share took a dip from 41.2% to 35.2% of the total this week. Only one Bordeaux wine featured in the top-traded wines by value this week, and two in the most-traded wines by volume. Is this the calm before the storm of the En Primeur campaign, which is rumoured to be starting imminently?
Burgundy secured the second spot, slightly improving its trade share from 27.4% to 28.0% of total trade by value this week. The region boasted two wines in both the top-traded wines by value and volume.
Champagne was the only other region aside from Bordeaux to see its trade share fall week-on-week. Tuscany’s trade share rose from 6.4% to 9.4% this week, buoyed by Sassicaia 2016featuring among the most-traded wines by value. The USA, Piedmont, the Rhône and the ‘Others’ category also saw their trade shares rise week-on-week.
What were this week’s top-traded wines?
Domaine de la Romanée-Conti, Romanée-Conti Grand Cru 2020 was the top-traded wine by value this week, perhaps unsurprisingly considering its Market Price of £210,028 per case. The wine, which last traded at £180,000 per case, boasts two 99-point scores from Antonio Galloni and Neal Martin (Vinous) and 100 points from William Kelley (The Wine Advocate).
Another Burgundian wine made the top-traded wines by value and volume: the recently-released 2022 vintage of Domaine Henri Boillot, Puligny-Montrachet Premier Cru, Clos de la Mouchère. The wine last traded at its release price of £1,670 per case.
Carruades de Lafite 2021 was second on the list, appearing for the second time in as many weeks.
Sassicaia 2016 was the third-most traded wine by value this week. The wine has two 100-point scores from Susan Hulme (The Wine Independent) and Monica Larner (The Wine Advocate). Since its release, the wine has seen a gradual rise in value, and last traded at £3,768 per case, 74.4% up on its release price of £2,160 per 12×75.
Opus One 2019 completed the rankings, boosting the USA’s trade share. The wine is currently trading below its release price of £3,024 per case.
The most-traded wines by value this week hailed from Burgundy, Tuscany and Bordeaux. Domaines Leflaive’s 2022 Mâcon Verzé topped the list after appearing a handful of times since the start of the year.
Altesino, Brunello di Montalcino Montosoli 2017, which was scored 95 points by Monica Larner, also made the list. The wine last traded at £416 per case, considerably below its release price of £690 per 12×75.
Bordeaux was represented by the second wine of Château Palmer,Alter Ego de Palmer 2015 and Château Meyney 2017.
Weekly insights recap
This week, Liv-ex published its Bordeaux 2023 En Primeur opening report, In the Balance. The report is available for members to read. Ahead of the En Primeur campaign, here is a reminder of some of the ways you can find value and trade efficiently on Liv-ex.
The April Market Report is now live for members on Silver packages and above, with a one-page extract for Bronze members.
Members also received two Market Updates, one highlighting the £45 million’s worth of live Burgundy offers on the exchange, and the other focusing on the relative stability of white Burgundy over the past two years.
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.
