Talking Trade: Bordeaux and Burgundy focus

Trade by both value and volume dipped this week. The market turned its focus to Bordeaux and Burgundy which collectively accounted for nearly 95% of trade by value. Activity for all other regions was reduced. The Fine Wine 50 index edged higher – up 0.6%. It is currently less than 1% below its 5-year high in March 2012.

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Blue chip traders

The Bordeaux First Growths took an increased 31.4% of trade by value this week. While Lafite was the most traded of the Premier Cru overall, two Mouton Rothschild vintages feature in the ‘top by value’ table.

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Latour release – “Mixed reaction”

Absent from the table was Latour 2005. On Tuesday, 3,000 cases of the wine were released from the Chateau at £7,800, a 14.7% premium to Market Price. Previously, ex-Chateau releases from Bordeaux have triggered activity for lower-priced cases in the secondary market. This week, Liv-ex saw Latour 2005 trade at £7,000 per 12×75. This follows a handful of trades the previous week at £6,700.

The Drinks Business reported a “mixed reaction” to the Latour release, suggesting that sales were “apparently very strong in places and merely reasonable in others.”

Bordeaux 2014 – coming soon

Neal Martin’s report on Bordeaux 2014 in bottle is expected at the end of this month. This week, a handful of wines from the vintage traded including Pavillon Rouge, which was the most active by volume, and Montrose which has seen a flurry of trades recently.

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Also in the news

Also in the headlines this week was Laurent Ponsot’s decision to leave the family’s estate in Burgundy to establish his own winery in the region. Liv-ex published a short article looking back at the performances of Ponsot Clos Roche Vv vintages over the past year. The Liv-ex Blog also published an update on the Super Tuscan indices, highlighting a recent drop for Tignanello.


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