What’s happening in the market?
Bordeaux has increased its trade share this week taking 43.0%, up from 33.2% in the previous period. Five vintages of Château Lafite Rothschild have changed hands – 2019, 2018, 2014, 2012 and 2005.
The United States has also increased its trade share week on week with the region taking 9.6% of total trade by level since the start of the week. 2019 has been the vintage of choice with trades of Promontory, Opus One, Harlan and Screaming Eagle, The Flight, Oakville.
Today’s deep dive: Super Tuscan Triumph
In a recent Market Update, we highlighted that if the Super Tuscans comprised their own index, it would be the best performing index year-to-date.
Collectively, they have risen 0.5% in 2024. The next best-performing index is the Port 50 which has fallen just 0.4% this year.
The chart below shows the price performance of the Super Tuscans over the past five years.
Tignanello was the best-performer during this time, rising 89.7%. The performance was helped by a sharp rise in March 2021. Interestingly, this was the same time Tignanello 2018 was released onto the international market. Antonio Galloni awarded the wine 97 points, scoring it similarly with the 2018s from Sassicaia and Ornellaia. Yet Tignanello 2018 was released at £860 per 12×75 – 52.2% and 46.3% below the two other Super Tuscans. Furthermore, looking at the three wines performance since their release -Tignanello 2018 has increased 43.7% in value compared to Sassicaia’s +8.5% and Ornelliaia’s -19.3%.
The 2016 is one of Tignanello’s best performing vintages, increasing 105.3% over the last 5 years. It last traded at £1,590 per 12×75. Other top performers from the brand include the 2010 (+ 102.4%), 2005 (+ 101.2%) and 2007 (+ 101.0%).
Buyers may be interested in the 2015, 2016 and the relatively newly released 2021– all of which received 98-points from Antonio Galloni (Vinous). The 2021 has a current Market Price of £1,225 per 12×75– slightly below its original release price of £1,300.
Tignanello 2016 trades on Liv-ex
The five wines have been beacons of stability during the down market of the last 18 months. Solaia has been the most stable of the Super Tuscans, with only a 0.4% decline since the market peak of October 2022. While Sassicaia fell the furthest during this time, pulling back 11.1%.
Buyers looking to take advantage of low prices during a down market may be interested in Sassicaia 2018. The wine has a current Market Price of £2,114 per 12×75, down 15.4% from its market high in October 2022. Equally, the 2011 may be compelling. It currently has a Market Price of £2,100 per case. While this is a 92.7% increase from its original release price, it is the lowest Market Price since November 2021.
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