Bordeaux maintained its leading position in the fine wine secondary market this week, accounting for 37.4% of traded value on Liv-ex, while Burgundy experienced a notable decline and Champagne retained third place.
The figures, published in Liv-ex’s weekly market update on Monday, highlight shifting demand across the major fine wine regions and increased purchasing activity from buyers in the United States and the United Kingdom.
The latest trading data point to Bordeaux’s continued strength in the secondary market, with established labels attracting buyers and Burgundy’s share falling below its September average.
Bordeaux Dominates Trading Activity
Bordeaux accounted for 37.4% of total traded value and an identical share of purchased value, making it the market’s leading region during the reporting week.
Château Lynch-Bages was the region’s most actively traded label. Its 2005 vintage ranked as the highest-traded wine of the week by value across the entire market, while vintages from 2017 to 2022 also recorded active trading.
Opus One 2023 and Château Cheval Blanc 2015 were among the other leading wines by traded value. Their presence alongside Lynch-Bages underlines continued activity across a range of premium labels and vintages.
For merchants and investors, Bordeaux’s leading share provides an indication of where secondary-market liquidity was concentrated during the week. However, trading share reflects activity over a specific period rather than a definitive measure of longer-term price performance.
Burgundy Loses Ground
Burgundy recorded a weaker week, with its share of traded value falling to 15.4%, down from 18.4% in the previous week. The latest figure also sits well below the region’s September average of 24.6%.
Despite the decline, established Burgundy producers remained prominent in trading. Domaine de la Romanée-Conti led the region, followed by Leflaive and Pierre-Yves Colin-Morey.
The reduction in Burgundy’s market share indicates a shift in the distribution of trading activity, although it does not necessarily mean that prices declined or that buyers abandoned the region. Weekly market shares can change as transactions involving individual wines and vintages influence the overall figures.
For fine wine merchants, the development reinforces the importance of monitoring both trading volumes and prices when assessing market conditions for Burgundy, a region whose premium wines often occupy a distinct position in collectors’ portfolios.
Champagne Maintains Third Place
Champagne accounted for 13.0% of traded value, remaining the third-largest region in the weekly ranking.
Salon was a major contributor, representing close to one-third of the region’s trading activity. Jacques Selosse followed, accounting for 12.8% of Champagne’s traded value.
Demand from the United States was particularly significant: American buyers represented more than half of the purchased value in the Champagne segment.
The figures suggest that trading activity in premium Champagne remains concentrated among a relatively small group of highly sought-after producers. For distributors and specialist retailers, this concentration may be relevant when evaluating portfolio exposure, inventory allocation and customer demand for prestige cuvées.
U.S. and U.K. Buyers Increase Purchasing
Liv-ex reported stronger purchasing activity from both U.S. and U.K. buyers during the week, with American buyers regaining a larger share of overall buying activity.
The U.S. category, comprising predominantly Californian wines, increased its share of traded value to 9.6%, compared with 7.0% in the previous week. American buyers accounted for 66.2% of the segment’s traded value.
The increase points to renewed activity in the Californian fine wine category, alongside continued American participation in French regional markets, particularly Champagne.
For the wider trade, buyer geography is an important indicator of where demand is emerging. Changes in purchasing patterns can help merchants understand which markets are contributing to current liquidity, although one week of data is insufficient to establish a lasting trend.
Tuscany and Piedmont Remain Closely Matched
Outside France, Tuscany and Piedmont recorded nearly identical shares of traded value, at approximately 6% each.
European Union buyers led purchases of Tuscan wines, with activity focused on Sassicaia and Tignanello. In Piedmont, U.K. buyers were the leading purchasing group, with trading concentrated largely on Giacomo Conterno.
The results highlight the continuing international reach of Italy’s leading fine wine producers. They also illustrate differences in buyer profiles between the two wine regions, which can be useful for merchants targeting collectors and specialist customers in individual markets.
Implications for the Fine Wine Trade
The latest Liv-ex figures provide a snapshot of how trading value was distributed across the fine wine market during the week. Bordeaux’s 37.4% share confirms its leading position in current activity, while Burgundy’s decline and Champagne’s 13.0% share illustrate changing regional weights.
For importers, distributors and specialist retailers, these movements can inform short-term decisions about sourcing, stock allocation and purchasing priorities. Nevertheless, traded value should be considered alongside individual wine prices, transaction volumes, available inventory and longer-term demand before drawing conclusions about investment performance or pricing direction.
For now, Bordeaux remains the largest contributor to secondary-market trading by value. Burgundy has surrendered part of its recent share, while Champagne continues to benefit from activity in leading prestige producers, supported by significant U.S. purchasing. Whether these shifts persist will become clearer as subsequent Liv-ex updates reveal whether this week's trading patterns develop into longer-term trends.
Source: Vinetur