Yesterday we saw that Bordeaux wines tended to underperform at October auctions, regularly going under the hammer for less than their Liv-ex Mid-Price. Below we have divided up the sub-sections in the Bordeaux 500 to see which sector of the market underperformed the most. This has been calculated by comparing the difference between the average price paid for a wine at auction (excluding the buyer’s premium, as we are approaching this from a seller’s perspective) and the Liv-ex Mid-Price.
We have recently reported on the success of Right Bank wines, but in October they showed the largest discount to their Liv-ex Mid Prices when sold at auction. The Right Bank 50 and 100 were the greatest underperformers in Hong Kong, Chicago and New York. In the US they saw on average a more than 30% decrease from their Mid-Prices. Meanwhile the Left Bank 200 was the strongest performer for red Bordeaux, although in Hong Kong the Second Wines 50 proved more popular – Carruades Lafite 2009 (LWIN 10078402009), for example, regularly sold at 27% above its Liv-ex Mid-Price.
Sauternes saw the most success at auction. They were the only group to sell over their Liv-ex Mid-Prices, with an average 10.8% increase in Hong Kong. Perhaps this points to increased Asian demand for white Bordeaux.
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