- Bordeaux strengthened its lead of the market, followed by Burgundy, Champagne and Tuscany.
- Lynch-Bages 2021 was the top-traded wine by both value and volume.
- This week, Liv-ex members on a Silver+ package received the February Market Report. An excerpt and summary is available for Bronze members. All members were sent an analysis of the Sassicaia 2022 release, and a Market Update on the bid:offer ratios of the Liv-ex 1000 sub-indices. An update to the major Liv-ex indices was also published for members only.
Bordeaux strengthened its lead of the market, taking a 40.5% share of traded value. The 2020 vintage traded most frequently, followed by the 2016 and 2021. Petrus was the region’s top-traded wine, with eight vintages changing hands.
Burgundy took a 17.0% share of traded value. Domaine de la Romanee-Conti was the region’s top-traded producer, with 11 individual wines changing hands, mainly in loose bottle format.
Champagne took a 15.3% share of traded value. Non-vintage wines traded most frequently and took the largest share of the region’s traded value. The 2015 vintage was the next top-traded by both value and volume.
Tuscany’s share of trade increased from 7.4% last week to 8.4% this week. Sassicaia was the region’s top-traded wine, accounting for almost a quarter of traded value. Alongside plenty of recent vintages, a case of the 1985 changed hands at £24,000 per 12×75. The 2022 was released earlier this week at £2,500 per 12×75 (read more here).
Piedmont took a smaller share than last week, down from 5.8% to 3.5%.
The USA’s trade share increased from 3.0% last week to 5.2% this week. Screaming Eagle was by far the top-traded producer, accounting for almost half of the region’s traded value. The 2021 vintage of the Oakville Cabernet Sauvignon traded at £19,880 per 12×75, marking its lowest-ever trade price.
Following a strong close last week, Spanish wine took a back seat this week, accounting for just 1.6% of traded value.
Breakdown of buyer geography
US buyers regained their edge over the market this week, taking a 31.2% share of purchasing. They remain key players in Champagne sales, accounting for over 50% of purchasing.
UK buyers took a 27.7% share of purchased value, down on last week. They were instrumental in the strong performance of US wines this week, accounting for over 60% of purchased value. Asian buyers, who took a slightly larger share of purchasing this week, were the next largest buyers of US wines.
European buyers have held steadily around the 30% share mark, concentrating their buying efforts mainly in Bordeaux.
What were the week’s top-traded wines?
Château Lynch-Bages 2021 was the week’s top-traded wine by both volume and value. Its Market Price fell quickly after release, holding at ex-negociant release price until June 2024 before falling to ex-château release price. High volumes changed hands this week at £682 per 12×75 / € 68/btl, 8.3% below its ex-château release price (€ 75 /btl).
Liv-ex trades of Château Lynch-Bages 2021
Top-traded wines by volume
Champagne was in demand this week, with three amongst the top-traded by volume. Pol Roger’s Reserve Brut came in second place. Over the past year, it has consistently traded in lower volumes around £285 per 12×75, and in high volumes at £270. Interestingly, it appears to trade more frequently in down markets, perhaps as buyers opt for high quality:price ratios over more expensive labels with higher nominal margins.
Liv-ex trades of Pol Roger, Reserve Brut
Dom Pérignon 2015 was fourth top-traded wine by value, and fifth by volume. Having been released last June at £1,750, its price has now fallen c.22%, trading between £1,360 and £1,430 this week.
Market Prices and scores of Dom Pérignon
Weekly insights recap
This week, Liv-ex members on a Silver+ package received the February Market Report. An excerpt and summary is available for bronze members. All members were sent an analysis of the Sassicaia 2022 release, and a Market Update on the bid:offer ratios of the Liv-ex 1000 sub-indices. An update to the major Liv-ex indices was also published for members only.
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 £140m of bids and offers across 20,000 wines.
