Another positive week: the Liv-ex 50 held steady while the bid / offer ratio maintained its level above 0.5 for the third week running. While these are by no means raging bull signals – the market is well used to false dawns - given the unrelenting grind lower of the indices these past 12-18 months, any week that is not down might well be viewed in a positive light. The next few months will tell us whether recent action becomes defining action.
The week was not short of news. Latour, which removed itself from the En Primeur system in 2012, released magnums of its 1988, 1989, 1996, 1997, 1998, 2001 and 2002 and cases of its 1996, 2001 and 2002. Interestingly, the vintages were offered at bang on the market price. No ex-chateau premium. They were thus generally well received, with the 1996 featuring in this week’s most traded by value table. Latour 2003 also featured, perhaps a consequence of Robert Parker’s reconfirmation of its perfect 100 point score last month.
Masseto and Solaia 2011 were also released in the last week. Although they are yet to trade on the secondary market, fellow Super Tuscan Sassicaia 2011 found the bid. Italian wines continued to prove popular overall, and the region took a 7.8% share of trade.