Bordeaux led weekly trade, in part buoyed by recent En Primeur 2023 releases changing hands.
- Bordeaux led weekly trade, followed by Burgundy and Champagne.
- The most-traded wines hailed from Champagne, Bordeaux, Burgundy, California, Tuscany, and a whisky also featured on the list.
- This week, Liv-ex published En Primeur pricing analyses, its May Market Report, and a Market Update for members highlighting En Primeur 2023 trades on the secondary market so far.
What’s happening in the secondary market?
Bordeaux is the word on many people’s lips at the moment, and the region once again led weekly trade by a considerable margin accounting for 41.0% of total trade by value. It was buoyed by trade in back vintages as buyers continue to weigh up the merits of buying 2023, or looking further back for better value. The region’s share was also boosted by some 2023 releases changing hands.
Burgundy followed with 20.7% of trade, a slight uptick on last week’s 20.0%, and counted one wine each in the top-traded by value and volume. Champagne was next with 11.0% of trade, bolstered by Taittinger, Comtes de Champagne Blanc de Blancs 2008 leading trade by value and volume this week.
The Rhone and Tuscany saw their trade shares run remarkably flat week-on-week, the regions holding 2.0% and 9.8% of trade respectively, while Piedmont recorded a slight uptick from 5.1% to 5.6% this week.
The USA’s trade share dipped from 4.2% to 3.5% this week, despite having one wine feature among the top-traded by volume. The ‘Others’ category, on the other hand, rose from 3.4% to 6.4% of trade, buoyed by Hibiki (Suntory), Blended 30YOwhisky changing hands. More on this below.
What were this week’s top-traded wines?
While Bordeaux led weekly trade in terms of trade share, it was a Champagne wine that took the top spot in terms of most-traded by value and volume. Taittinger, Comtes de Champagne Blanc de Blancs 2008 last traded at £1,680 per 12×75 packed as 75cl bottles, but at £2,412 per 12×75 packed as magnums a few days before. The chart below clearly illustrates the premium for large bottles in Champagne.
Taittinger, Comtes de Champagne Blanc de Blancs 2008 trades on Liv-ex
As mentioned above, Hibiki (Suntory), Blended 30YOwas among the top-traded labels by value. The whisky was also sold at auction last month, at £3,278 per 1×70.
Château Lafite Rothschild represented Bordeaux on the list of top-traded wines by value, featuring twice. The newly-released 2023 vintage changed hands at £4,180 per 12×75, 15.0% below its release price of £4,920 per case. The wine was released 31.7% below the 2022’s ex-London price, making the 2023 one of the best value vintages on the market. Château Lafite Rothschild 2000 also changed hands in the last week, priced at £13,000 per 12×75.
Bordeaux was also represented among the most-traded wines by volume, with Château d’Armailhac 2021 trading at £372 per 12×75. The wine was scored 92 points by Jane Anson (Inside Bordeaux) and William Kelley (The Wine Advocate), and 90 points by Neal Martin (Vinous) upon its release in bottle earlier this year.
Burgundy found a place on both lists as well. Domaine de la Romanée-Conti La Tâche Grand Cru 2018featured among the top-traded wines by value, somewhat unsurprisingly given its Market Price of £79,980 per case. On the other end of the Burgundian spectrum, Domaine Gros Frère et Soeur, Bourgogne Hautes Côtes de Nuits Rouge also changed hands, trading at £260 per 12×75.
Ridge, Geyserville, Alexander Valley 2020 waved the flag of California, while a Brunello di Montalcino, Valdicava 2013, completed the rankings.
The 2023 En Primeur campaign so far
En Primeur releases are still coming hard and fast, playing into the rumours that this campaign will be short (and hopefully sweet for all involved). The following wines covered by Liv-ex were released last week:
- Château Cheval Blanc 2023, £4,680 per 12×75
- Château Langoa Barton 2023, £350 per 12×75
- Château Léoville Barton 2023, £670 per 12×75
- Château Haut-Brion 2023, £3,780 per 12×75
- Château Haut-Brion Blanc 2023, £6,540 per 12×75
- Château La Mission Haut-Brion 2023, £2,220 per 12×75
- Château La Mission Haut-Brion Blanc 2023, £5,220 per 12×75
- La Chapelle de La Mission Haut-Brion 2023, £540 per 12×75
- Château Lynch-Bages 2023, £840 per 12×75
- Château Ormes de Pez 2023, £216 per 12×75
- Château Ducru-Beaucaillou 2023, £1,488 per 12×75
- Château Ausone 2023, £5,280 per 12×75
- Château Pape Clément 2023, £708 per 12×75
- Château Grand-Puy Ducasse 2023, £288 per 12×75
- Château Malescot St Exupery 2023, £390 per 12×75
- Château d’Issan 2023, £450 per 12×75
- Cos d’Estournel 2023, £1,440 per 12×75
- Château Saint-Pierre 2023, £410.40 per 12×75
To get a day-by-day breakdown of releases, fill in this form to see our Bordeaux En Primeur 2023 Key Prices.
Weekly insights recap
As well as exclusive En Primeur release posts and pricing analysis, Liv-ex members gained access to a Market Update outlining Bordeaux 2023’s performance on the secondary market thus far.
Members on Silver packages and above can also read the May Market Report, while Bronze members have access to a one-page summary.
Liv-ex also published a summary of Lisa Perrotti-Brown MW’s top-scoring Bordeaux 2023 wines, free for all to read.
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.
