Liv-ex wins supply chain initiative award

Liv-ex is pleased to announce that it has won the Drinks Business’s 2016 Supply Chain Initiative of the Year award for its SIB Passport and Instant Transfer.

Both initiatives focus on the immobilisation of stock, which reduces the risk of damage as well as reducing costs.

James and Claire with award_smallThe SIB (Standard in Bond) Passport is an electronic certificate issued by Liv-ex’s logistics network, Vine, to confirm that a case of wine meets industry standards. It enables wines to be processed quickly when they are bought, sold, or shipped.

The Instant Transfer is for customers who use Vine’s online stock management system, available to all Liv-ex members. Ownership of stock can be transferred instantly – with a single click. This means faster payment and ensures that the wine stays in the same location, reducing the risk of damage in transit.

With these initiatives, Liv-ex hopes to improve the supply chain for all those with an interest in fine wine.


Director James Miles and Logistics Manager Claire Houlahan with the award

Liv-ex 1000 gains 0.5% in April


The Liv-ex 1000 Index gained 0.5% in April to close on 254.78. The Bordeaux 500 index gained 1.1% to close on 251.79. It now looks comfortably stronger than the other sub-indices over one year, having gained 5.5% over this period.

The majority of the sub-indices also gained in April. The Rhone 100, often one of the weaker performers, put in the most gains (+1.2%) while the Rest of the World 50 edged up 0.7%. Both the Burgundy 150 and the Italy 100 lagged in April, each dropping 0.4%.


Cantemerle 2015 released

Cantemerle 2015

Cantemerle 2015 has been released today at €19.8 p/b ex-negociant, up 13.1% on the 2014 release price of €17.5. It is being offered by the international trade at £210 per 12×75. As the chart above shows, this is higher than many recent physical vintages but represents a discount on 2005, 2009 and 2010.

There has been some variation in critic scores for the 2015. While Jean-Marc Quarin awarded it 88 points, James Suckling (95-96) questioned whether it might be the “best ever” Cantemerle. Neal Martin (90-92) called it “very fine” and added: “it finishes with some swagger”.

Cantemerle 2015 is a wine that has divided critics. Will it divide buyers, too?

Liv-ex 100 gains 1.05% in April


The Liv-ex Fine Wine 100 Index has closed April up 1.05%. It closed at 252.75 points, up 2.5 points on March. The index has now risen for five consecutive months and is up 6.78% from November when it closed at 236.71.

April saw some currency gyration with Sterling strengthening against the Euro from the beginning of the month. This appears to have subsided for now and Sterling is trading at 126.28 against the single currency. Market participants have also started to focus on the 2015 En Primeur releases which has so far seen prices released from a number of petit Chateaux and Sauternes.

It was also a positive month for the Liv-ex Fine Wine 50. The index closed April 1.17% higher at 283.72 points.

This month’s top movers table was led by DRC, Romanee Conti 2010 (WA 98) up 13.7% on March. The rest of the top five was dominated by First Growths with Mouton Rothschild 2010 (WA 97+) the top performer, up 4.7% on last month. Cheval Blanc 2010 (WA 100) saw the largest drop month-on-month.


Suduiraut 2015 released above recent vintages

Suduiraut 2015

Suduiraut 2015 was released today at €45.60 per bottle, up 8.6% on the 2014 release price of €42. It is being offered by the international trade at £480 per 12×75. Although it has a relatively strong score – 95-97 points from Neal Martin, who called it “a wonderful Suduiraut” – it is the most expensive of recent vintages.

In his report, Martin advises: “Do not overlook Sauternes! You will…I know that…but there is no harm in repeating it”.

At this price, those taking his advice will likely look to physical vintages instead.

Talking Trade: 22nd – 28th April


The Liv-ex Fine Wine 50 index was steady this week as momentum slowed on the back of Sterling strength against the Euro. Market participants also remain focussed on the En Primeur price releases for the 2015 vintage.


It was a poor week for Bordeaux with the region achieving 73.8% of total trade by value, down from 83.3% last week and below the March average of 78.1%. Burgundy saw good trade and was boosted by Domaine Leroy, Vosne Romanee Beaumonts 2013 (WA 93-95) and DRC, Tache 2011 (WA 95). Both wines were third and sixth traded by value this week. Champagne also saw a good week with 6.0% of market share, up from 1.6% last week. This was boosted by Cristal 2007 – the fifth highest wine traded by volume.

First Growth trade represented 27.3% of total trade. Mouton Rothschild was the most active by value, representing 35% of First Growth trade.

Like last week, Petrus was well represented. Petrus 2009 (WA 100) was the top wine traded by value, with 96-point Petrus 1995, 100-point Petrus 1989 and 91-point Petrus 2007 all appearing in the top 20 wines traded by value this week.


Pape Clement 2009 was the third wine traded by volume after Robert Parker released a new batch of scores in the Hedonist’s Gazette last Friday, scoring the wine 100-points. It previously received 95-points in The Wine Advocate. Pape Clement 2009 is up 47.9% at £1,235 per 12×75 this week from £835 per 12×75 at the end of March. Sassicaia 2007 (AG 95) was the top wine traded by volume.




Neal Martin on Bordeaux 2015: “A narrow pyramid”

Neal Martin’s Bordeaux 2015 report was released on The Wine Advocate this afternoon. Like many other reviewers, Martin suggests that 2015 is an “excellent” vintage in general – but currently lacks the across the board consistency of great vintages such as 2009 and 2010. In terms of hot spots for quality, he states: “The best wines tend to be in the southern Médoc, specifically Margaux and Pessac-Léognan, across the Right Bank in Saint Emilion and Pomerol, then into several satellite appellations”.

He highlights the exceptional quality of a handful of wines from 2015 – giving six potential 100-point scores – and likens the distribution of quality to a “narrow pyramid, whereas 2009 and 2010 would be flatter so that its average height higher”.

Martin also offers his views on the Bordeaux market, writing (in bold): “primeur works when the price is right”. He expresses concerns about Chateaux pricing strategy, suggesting that some are more concerned about the competitor pricing than pricing at the right level for consumers – and calls this “a dangerous game to play”.

His top barrel scores are shown in the table below.

Neal Martin 2015

You can compare his scores against scores from other key critics here on the Liv-ex blog.

To read Neal Martin’s report in full, visit The Wine Advocate.

Gazin 2015 opens Pomerol releases on a high

Gazin 2015

Gazin 2015 has been released at €45.6 per bottle ex-negociant, a 15.2% increase on the Chateau’s 2014 release price. It is being offered by the international trade for £485 per 12×75. As the chart above shows, this puts it amongst the more expensive Gazin vintages currently available in the market.

Buyers seeking value might look towards 2012. Robert Parker considered the 2012 vintage to be “excellent” for Pomerol overall and awarded 95 points to Gazin 2012. It is available at a 13.4% discount to the 2015.

Bordeaux 2015: Members’ survey

Each year Liv-ex surveys the international wine trade upon their return from tasting the new Bordeaux vintage. The survey is designed to track the consensus of opinion amongst the best professional tasters of young Bordeaux. Liv-ex’s membership numbers 440 of the world’s biggest buyers and sellers of fine wine.

In summary, the findings of the Liv-ex 2015 En Primeur survey:

  • Margaux is the wine of the vintage.
  • Grand Puy Lacoste tops the value for money category for the sixth year in a row.
  • The vintage scored 94.6 overall.
  • Almost three quarters of merchants are expecting more demand than for the 2014s.
  • Euro release prices are expected to be 18% higher than last year, on average.

View this report in full: click here.

Bordeaux 2015: First wave of Petits Chateaux releases

Chasse Spleen 2015

Several Bordeaux 2015 releases from Petits Chateaux have been announced over the past week. This morning, Chasse Spleen came out at €19.2 per bottle ex-negociant, a 10.3% increase on its 2014 release price of €15.2. It is expected to be offered by the international trade at £207 per 12×75, its highest ever release price. As the chart above shows, this is still below the current market prices of back vintages before 2011 – and it has a relatively strong score.

Other Chateaux have seen comparable increases on their 2014 release prices. Sterling’s weakness has widened the gap for UK buyers, as the table below shows. Even Lanessan, which has raised prices by just 2.2% ex-negociant, is up 10.5% for Sterling buyers.

For market price data on back vintages for these wines, search using Cellar Watch.