- Bordeaux led weekly trade, followed by Champagne and Burgundy.
- Two Champagnes were amongst the top five traded by value.
- This week, Liv-ex published En Primeur pricing analyses, its July Market Report, and a Market Update looking into the price performance of Bordeaux’s ‘on’ vs ‘off’ vintages.
What’s happening in the secondary market?
While continuing to lead the market, taking 39.8% of traded value, Bordeaux’s share of trade has fallen for the second consecutive week. Still, three of the top 5 traded wines by value hailed from the region, with Château Latour 2011 taking the top spot.
Burgundy continued to fall, taking only a 13.6% share. Champagne overtook the region, going from 15.3% to 16.9% of trade share to take second place. Large volumes of Bollinger R.D. 2008 changed hands, alongside the 2004 vintages of Charles Heidsieck’s Blanc de Millénaires and Laurent Perrier’s Alexandra Grande Cuvée Rosé.
While Piedmont remained flat, Tuscany saw increased demand after a weak close last week. Recent vintages of Tenuta san Guido’s Sassicaia proved popular, with the 2018, 2019, 2020 and 2021 changing hands.
Though the 2019 and 2018 vintages of Silver Oak Cabernet Sauvignon saw trades, the USA’s trade share fell to 4.8%.
The ‘others’ category, however, increased its trade share, taking 7.9% of trade. Spain was the most popular of the comprising countries, with producers such as Vega Sicilia, La Rioja Alta and Dominio de Pingus drawing attention.
What were this week’s top-traded wines?
Château Latour 2011 topped the list this week, taking a larger share of traded value than any other wine. Earlier this year, two 12×75 case of Latour 2011 sold at auction, one at £4,268 and the other at £4,519 — a premium of 18.9% to the last traded price on Liv-ex. At the time, the Market Price was £4,300. Two larger formats were also sold at the same auction: one double magnum for £1,607 and a case of six magnums for £4,017. Last week, the 100-point 2010 vintage, trading at £8,408 per 12×75, was the top traded by value.
Auction sales and Liv-ex trades of Château Latour 2011
Two Champagnes featured amongst the top 5 this week – Bollinger R.D. 2008 and Salon Le Mesnil 2012. Both wines traded below their Market Prices, at discounts of 3.0% and 21.4% respectively . Salon 2012’s most recent trade marks the lowest ever transaction price for the wine since its entry into the secondary market. Still, it has increased in value since its original release in late 2021 at £5,800.
Trades of Salon Le Mesnil 2012 on Liv-ex
Château Lafite Rothschild 2019 re-entered into the top 5 after dropping out last week, taking 4th place. Over the course of the week, its lowest traded price was £4,918, while its highest was £5,324.
Petrus 2021, having recently become physical, entered the secondary market this week and took fifth place. The wine has a current Market Price of £36,061.
Top-traded wines by volume
Clos des Papes 2022 was the most traded wine by volume this week. As detailed in our July Market Report, the Rhône has been in the spotlight recently, with Vinous publishing Nicolas Greinacher’s report on Châteauneuf-du-Pape 2022. Clos des Papes received a 96+ score from the critic, his fifth highest scoring of the vintage.
Errazuriz’s Las Pizarras Chardonnay 2020 has seldom traded on Liv-ex, but took the third spot this week thanks to a single high-volume transaction.
Weekly insights recap
As well as exclusive En Primeur pricing analyses, Liv-ex members were sent a Market Update looking into the price performance of Bordeaux’s on and off vintages. The July Market Report was also published for members on Silver packages and above.
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.
