Much of the fine wine trade may have departed for their summer vacation but the last week on Liv-ex has highlighted several points of interest. The first is that the share of trade for Margaux and Haut Brion – the least-loved of the First Growths – is on the rise. In the last week the two wines accounted for 21% of trade by value, more than Latour, Lafite and Mouton Rothschild combined. A year ago the number was 3%. After taking a low 5% of trade last week Lafite’s share has risen to 9%, but higher volumes are coupled with declining prices: there is pressure to sell as the wine’s premium over the other Firsts continues to narrow.
July saw Bordeaux account for just 76% of trade, its second lowest regional share in nine years. This week it sits at 85.3%: buyers and sellers would seem to have found harmonious ground. Yquem 05, which traded heavily, has dropped more than 50% from LVMH’s release price and consequently found the bid.
Italy takes second place in the regional share table this week, due largely to the activity around 96 point (AG) Sassicaia 2010, which traded at £1,000 per 12x75.