Opportunities at Liv-ex: fine wine data intern

Liv-ex is currently looking to hire a highly motivated, enthusiastic, and organised individual to join Liv-ex as a fine wine data intern for six months.

The successful candidate will be a team player with strong computer and communication skills, as well as relevant wine knowledge.

Key responsibilities:

  • Data content enhancement
  • Internet based research
  • Work alongside the data team on the LWIN project
  • Document and review naming standards
  • Validate and create new LWINs
  • Explore third party sources to gather additional LWIN information

Skills and experience:

  • Relevant wine knowledge (WSET certificate preferable)
  • Computer literate with strong Excel, Outlook and internet skills
  • Very good research skills

This will be a paid internship, based at the Liv-ex company office in Battersea SW8.

To apply, or for further information, please email Andreas Neder with a short covering letter and CV.


 

Liv-ex 1000 closes 2016 at another all-time high

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The Liv-ex 1000 Index – the broadest measure of the fine wine market – closed December 2016 at an all-time high of 299.80. This is an increase of 1.1% on November’s close of 296.60. The index finished the year 22.3% higher than it was at the end of December 2015. It has risen for thirteen consecutive months.

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Among the Liv-ex 1000 sub-indices, the Burgundy 150 (+26.0%), Bordeaux Legends 50 (+24.9%) and Bordeaux 500 (+23.1%) were the top performers over 2016. All of the indices received a marked boost after June 24 when the UK voted to leave the EU. A weaker Sterling has encouraged buying from Euro and, particularly, Dollar-based merchants.

However, in December the Champagne 50 (-0.9%), the Rest of the World 50 (-0.3%) and the Italy 100 (-0.2%) recorded small declines on the previous month.

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Liv-ex 100 closes the year on a high

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The Liv-ex Fine Wine 100 Index closed December on 297.33, up just 0.4% on the previous month. The index has now risen for an unprecedented thirteen consecutive months and is up 24.8% year-on-year. It is at its highest point since November 2011, when it closed at 297.96.

The two top movers last month were from Burgundy and Bordeaux, with DRC Tache 2012 (WA 97) and Vieux Chateau Certan 2009 (WA 99) increasing by more than 9%. The Left Bank’s Smith Haut Lafitte 2009 (WA 100) was the biggest faller, dropping 7.1%.

Increases slowed in December: the index rose just 0.4%, compared to an increase of 1.6% the previous month. After a whole year of positive movements, will market strength continue into 2017?

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2016 on the Liv-ex blog: a round-up

2016 has been fascinating. Set in the context of global political and economic shifts, the fine wine market has turned a corner. With one working day until the end of the year, the Liv-ex Fine Wine 50 has gained 26.9% – a sharp increase after four years of decline and one year of flatlining. The Liv-ex 100 is up 24.3% so far, vastly exceeding average merchant estimations of a 5.4% rise.

Throughout, the Liv-ex blog has aimed to provide regular updates and analysis on the fine wine market. Below, we share some of our most viewed posts of 2016.

Most popular analysis:

1. Five times that Robert Parker moved the Bordeaux market
This year’s most viewed post came in April when we looked back at five key moments that reviews from Robert Parker moved the Bordeaux market.

2. Margaux 2015 and Pavillon Rouge released
Our second most popular post announced the release of Margaux 2015, the fine wine trade’s wine of the vintage.

3. Where next for Parker’s 100-point wines?
How have Parker-perfect 100 point wines performed over the last five years? To find out, we created an index.

4. Bordeaux 2015: the increases are increasing
The only way is up. Keep on moving. Reach [for the stars]. These were all candidates for cheesy musical references in a post that showed how price increases for Bordeaux 2015 kept on rising. But it didn’t stop there. To see how this chart looked at the end of the campaign – after the increases continued to increase – view our concluding post here.

5. Power 100
The 2015 Power 100 – our annual list of the most powerful brands in fine wine – was also among the most viewed posts this year. Earlier in December, we released the 2016 list, topped by Lafite Rothschild. You can find it here.

pearsonInterviews in 2016:

This year, we had the pleasure of interviewing a diverse range of wine industry figures. In March Mouton Rothschild’s Phillip Dhalluin told us about developments at the estate and his views on the market. Later we caught up with Wine Spectator’s James Molesworth on wine criticism, his favourite regions, and Bordeaux – “There’s 2010 and then there’s everything else”.

David Pearson of Opus One talked pricing and markets, while in a two-part interview, our discussion with Tim Atkin MW spanned wine writing, South Africa, Bordeaux, climate change, dinosaurs…

In November, wine consultant Michel Rolland shared fascinating insights on his career, winemaking philosophy and the wine business, concluding: “I am a follower of trends. The market is always right.”

Finally, Giovanni Geddes da Filicaja of Masseto e Ornellaia explained the development and separation of the two brands in an interview published at the end of last month.

Bordeaux harvest updates

Guest blogger and Bordeaux wine maker Gavin Quinney kept us up-to-date with this year’s growing season and harvest with his series of articles. To view the latest – Quantity and qualityclick here.

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Looking ahead

2017 is looking to be another eventful year for fine wine. Burgundy En Primeur is around the corner – and the Bordeaux 2016 campaign is just a few months away. The quality of the vintage is tipped to be high. Like this year, coverage on the blog will be extensive and timely.

As ever, the Liv-ex Blog is your source of information direct from the fine wine market. Thank you to the record number of visitors from around the world this year. We hope that you have enjoyed – and will continue to enjoy – reading into 2017.

From everyone at Liv-ex, we wish you a prosperous new year.


Which regions have traded most in 2016?

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In 2011, both prices and trading activity for Bordeaux hit all-time highs. The region almost completely dominated the fine wine market, accounting for 95.8% of trade by value. In the years that followed, its prices and share of the market both dropped.

Five years on and prices for top Bordeaux have climbed – the Bordeaux 500 index is up 21.8% year to date – but its market share is largely unchanged from last year at 74.4% as trading remains broad.

Burgundy bounced back as the second most traded regional group this year, after slipping behind Italy in 2015. It took 7.7% of the market by value, compared to Italy’s 6.0%. In third place, Champagne has taken 5.3% – down a touch on last year, but well above its 2.8% share in 2014.

Market share for the ‘Rest of the World’ held steady at 4.7%. Although the USA was the biggest player here, activity broadened to include trade for English and Chinese wines for the first time. Other regions trading this year include New Zealand, Lebanon, South Africa and Argentina.


The most searched for wines of 2016

Liv-ex has examined the 20 most viewed wines on Liv-ex this year, based on visits to wine pages from January until December 2016. The table below shows the most viewed wines over this period, compared to their ranking in 2015.

This year the Bordeaux First Growths continued to attract the most attention, having taken the top spots in the 2016 Power 100. Lafite Rothschild is now in first place, taking it back from Mouton Rothschild which topped the table last year. Margaux and Latour have also switched places.

The three wines that climbed the most are Pontet Canet, Pavie and Pape Clement. Pontet Canet jumped into sixth place, making it the most viewed wine outside of the First Growths. Pavie and Pape Clement have been in the spotlight recently: both have seen significant price increases since the beginning of the year.

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Talking Trade: Latour and Pavie see new highs

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Trade dipped this week by both value and volume as merchants began to slow down ahead of the Christmas break. However, the Liv-ex Fine Wine 50 held steady, closing Thursday at 334.80. Bordeaux activity bounced back, with the region accounting for 77.7% by value. Champagne pulled back after seeing high activity last week.

share-of-trade

First Growth activity also edged up this week, representing 23.5% of trade. Latour was the most active, followed by Mouton and Lafite. Latour 2000 was the second most traded wine by value and traded at its highest level since February 2014.

latour-2000

Pavie 2009, the fifth most active wine by value this week, traded at an all-time high of £3,070 per 12×75. Robert Parker said “this wine feels almost as if you could lose your palate in it” and awarded it 100-points. Pavie’s controversial 2003 vintage also traded at an all-time high recently.

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Looking for weekend reading? This week, Liv-ex published the top ten traded wines of 2016 and had a look at Pape Clement, one of the top-performing Bordeaux wines this year.


Pape Clement is among the top-performing Bordeaux wines this year

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Pape Clement is among the top-performing Bordeaux wines this year. Only four wines of the Bordeaux 500 have been stronger: Le Pin and three second wines: Clarence Haut Brion, Petit Mouton and Pavillon Rouge. The Pape Clement index – which tracks the price movements of the last ten physical vintages – is up 36.8% over the last 12 months. It has outperformed the Bordeaux 500 index, which has gained 22.7% over the same period.

price-change-one-year

The 2009 vintage was the highest riser, up a staggering 76.7% over 12 months. It was also one of the top traded wines of 2016, following an upgrade from Parker to 100 points in April. All the other Pape Clement vintages saw strong price increases over this period. The top performances are those from top vintages – ’05, ’09, ’10 – and the youngest vintages.


 

Top ten traded of 2016: Lafite Rothschild 2010 number one

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Lafite Rothschild 2010 has been the most traded wine so far in 2016 by value. It has also seen gradual prices rises throughout the year: it last traded for £6,040 per 12×75, a 19.6% increase on its first trade of 2016 (£5,050). Despite these increases, the wine, which Robert Parker called “a very impressive … big, rich, full-throttle Lafite Rothschild” (98 points) remains significantly discounted on its high En Primeur release price of £12,000.

The 2014 vintage of the Chateau’s second wine, Carruades Lafite, has taken the second spot. It has seen increased activity after becoming physical, with buying mostly coming from Hong Kong and France.

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Other top traders include Pape Clement 2009 which saw a flurry of activity and rising prices following its upgrade to 100 points by Parker in April. Sassicaia 2013, the estate’s latest release, also entered the top table.


 

Parker power: Controversial Pavie 2003 hits new high

Pavie 2003

The controversial Pavie 2003 traded at a new high of £2,440 per 12×75 last week after rising substantially this year.

Critic reviews of the vintage have been divided. Jancis Robinson famously scored the wine 12/20 in barrel, calling it “ridiculous”; Robert Parker awarded it 97-100 around the same time.

Parker’s most recent review noted that the wine has “calmed down considerably as it was a blockbuster, somewhat of a Bordeaux fruit bomb in its youth”. He scored it 96. Neal Martin has been less positive, awarding it 88 points and calling it “a bit boring”.

While the wine might have calmed down, prices have not. Followers of Parker do not appear to have been dissuaded: the recent trade represents an increase of 47% on its trade price of £1,655 one year ago.