Liv-ex is the world’s leading online marketplace for fine wine. We run an internet and phone-based information, trading and settlement platform, with members in 35 countries on six continents. Liv-ex continues to strive towards bringing higher standards of efficiency and transparency to a traditionally opaque market.
Christmas might be fast approaching, but trade showed no signs of slowing down this week – it rose by both value and volume. Bordeaux accounted for 61.8% of the total value. The First Growths also maintained a healthy level of trade. Still, the Liv-ex 50, which tracks their daily price movements, dipped by 0.4% on last week.
Other regions also improved: Champagne’s market share climbed to 9.2%, the Rhone was up to 2.3%, while the USA and the Rest of the World edged up to 1% and 2.4% respectively.
Burgundy and Italy, which were the stars in November, pulled back slightly.
The most traded wines this week came from Bordeaux, Burgundy and Champagne. The top spot belongs to Lafite Rothschild 2010, which Robert Parker described as “more restrained and structured” than the 2009. Another vintage from the château also saw a high level of interest – the 2008, which last traded at £7,070 per 12×75. Indeed, Lafite Rothschild has been the most active of the First Growths this week, accounting for half of their trade.
Petrus 2015, which Lisa Perrotti-Brown MW and James Suckling awarded the ultimate 100 points, also featured in the top five. Back in October, the wine reached an all-time high, trading at £36,980 per 12×75. You can also read our Spotlight on Petrus here.
This week, Burgundy’s top traded wine by value was DRC Tache 1991. However, a number of non-DRC Burgundy wines have also traded actively in the past year. To find out more, click here.
Top traded wines in 2018
On Wednesday, we took a look at the most traded wines on Liv-ex by value in 2018. Almost all of the wines in the top ten are from Bordeaux, with two from Champagne and one from Italy. You can read our blog post here.
DRC might have stolen the headlines this year, but a number of non-DRC Burgundy wines have also traded actively in the secondary market. As we recently noted, Burgundy’s trade share has been growing without a significant boost from the iconic brand. Instead, other brands have started to become more active.
When looking at the top traded Burgundy wines by value, DRC dominates the table. Removing DRC, as we have done in the table above, allows us to explore broader Burgundy themes.
The top spot belongs to Clos Roche 2015 from Domaine Ponsot – the family estate, previously led by Laurent Ponsot, who exposed a multimillion-dollar counterfeit wine scheme.
The wine last traded at £4,718 per 12×75, 18.3% above its release price of £3,990 per 12×75. Still, our Ponsot Clos Roche Vv index – which tracks the performance of the ten most recent physical vintages – has been flat this year.
Four wines from Leroy also feature in the top ten – three from the Domaine (produced by the grower) and one from the Maison (its négociant business). The brand has proved popular among collectors and investors in the past year and has yielded an average price increase of 58.2%.*
The list above includes only one Chardonnay from the Côte de Beaune, Coche Dury Meursault 2015. The wine last traded at £4,413 per 12×75, just below its current Market Price.
The power of Burgundy
This year’s Power 100 has been dominated by wines from Burgundy and a number of the wines shown in the table above have topped the price performance rankings. You can read the report in the December issue of the drinks business. We will post our summary on the blog next week.
*Traded on Liv-ex in the last year (1st September 2017 – 31st August 2018). As calculated for the Liv-ex Power 100. A ‘brand’ is a group of wines made by the same producer. I.e. Lafite Rothschild produces the eponymous Grand Vin as well as Carruades Lafite.
Today’s post takes a look at the top traded wines on Liv-ex by value in 2018. As the table above shows, almost all the wines in the top ten are from Bordeaux. Two wines are from Champagne and one from Italy.
Dom Perignon 2009 ranked 6th, but Louis Roederer Cristal 2008 claimed the top spot. The latter was released back in May, and was scored 98+ points by Antonio Galloni (Vinous) a few months later. In his tasting note, he described the wine as one “that takes over all the senses and never lets up”.
Wine Spectator’s wine of the year, Sassicaia 2015 ranked second. Following the announcement, the wine saw a flurry of trade on Liv-ex and was the top traded wine by both value and volume in November. It’s most recent trade price of £1,660 per 12×75 represents a 46% increase on its release price back in February.
In third place was the highly-coveted Margaux 2015. Since becoming physical earlier this year, demand for the commemorative bottle has increased. It last traded for £12,000 per 12×75, an 182% increase on its release price of £4,250, but 7.5% off its high of £13,000.
Lafite Rothschild, however, has dominated trade. Four vintages from the First Growth have been among the top traded wines this year: the 2005, 2009, 2014 and 2015.
Overall, Haut Brion 1989 was the most expensive wine in the top 10. It traded at £25,000 per 12×75 in June this year, an all-time high for the wine. It is currently up 38% for the year.
Looking for more?
Back in September, we released a report on the performance of Champagne in the secondary market, which you can read here.
As businesses start to slow down in the run-up to Christmas, trade dipped by both value and volume this week. Bordeaux retained the lion’s share and accounted for 57% of the total value. However, this was down on last week when it accounted for 60.2%. Its share for the month was also the second-lowest it has been this year at just 53.6%.
As for the other regions, Burgundy and Italy edged up to 14.7% each. The ‘Others’ category also improved (3.3%), while Champagne, the Rhone and the USA pulled back slightly.
The top traded wine this week was once again Wine Spectator’s wine of the year: Sassicaia 2015. Since the announcement, the wine has seen a flurry of trade on Liv-ex, as the chart below shows. It was the top traded wine by both value and volume in November and has been among the most active wines for the past three weeks.
The wine is currently being offered for £1,740 per 12×75, a 54% increase on its release price of £1,130.
The Wine Advocate Bordeaux 2016 in-bottle report
Last week, the Wine Advocate published Lisa Perotti-Brown MW’s report on the Bordeaux 2016 vintage. Overall, Perotti-Brown awarded eight wines a perfect 100 points. You can find our summary of the report, which includes the price performance of her top-scoring wines here. You can also read our ‘fair value’ analysis on Cheval Blanc, Haut Brion and Cos d’Estournel, here.
Liv-ex interview with Paul Symington
After the announcement that Paul Symington would be stepping down as Chairman and joint Managing Director of Symington Family Estates, we caught up with him to find out more about the Port industry and his future plans. You can read our interview with him here.