This week, Bordeaux further solidified its position in the global wine market, increasing its market share to 39.1% by trade value, compared to 38.5% the previous week. High-value trades from the Right Bank, including renowned estates like Petrus, Château Angélus, and Le Pin, played a significant role in this growth.
Notably, the 2019 vintage was the most actively traded, with top-tier wines like Château Mouton Rothschild, Château Cheval Blanc, and Carruades de Lafite leading the charge. Bordeaux's dominance continues to reflect its strength in both value and reputation, particularly with the enduring appeal of its 2019 vintage.
Burgundy Sees Decline in Trade Value but Steady Interest in Village Wines
Burgundy's trade value saw a slight dip for the second consecutive week, falling to 15.7% from 21.1% the previous week. Despite high-profile names like Domaine de la Romanée-Conti and Leroy driving the top trades, the region's performance was bolstered by a surge in volume trades of village-level wines. Producers such as Jean-Luc & Eric Burguet and Mongeard Mugneret contributed to the overall trade, highlighting continued demand for more accessible Burgundy offerings, even amid lower trade by value.
Tuscany Closes the Gap on Burgundy, Led by Super Tuscans
Tuscany's presence in the global wine trade continues to rise, claiming 14.6% of trade by value, narrowing the gap with Burgundy. The region's top performer was Masseto, a Super Tuscan with a growing reputation. Other key contributors included Tenuta San Guido Sassicaia, Ornellaia, and multiple vintages of Montevertine’s Le Pergole Torte, all of which elevated Tuscany’s market position. Tuscany’s trade value surpassed that of Champagne, which took 8.6% of the trade this week.
Champagne: Bollinger Grande Année 2014 and Dom Pérignon Dominate
While Champagne secured fourth place with 8.6% of trade value, Bollinger Grande Année 2014 remained the region’s top-traded wine by value. Dom Pérignon, however, emerged as the region's top producer in terms of total trade. Despite these strong showings, Champagne’s overall share of the market continues to trail behind the top regions, particularly Bordeaux, Burgundy, and Tuscany.
Piedmont Gains Market Share with Bartolo Mascarello Barolo Leading
Piedmont experienced a notable increase in trade, rising from 3.9% to 5.4%. Bartolo Mascarello Barolo took the spotlight as the region's top-traded wine, while several wines from Produttori del Barbaresco boosted the region’s overall performance, making it Piedmont’s top producer by trade value. These trades underscore the growing international demand for premium Barolo and Barbaresco wines.
USA Trade Falters as Top Producers Struggle
The U.S. wine market saw a significant drop in trade share, falling to 4.4% from 10.9% in the previous week. Top producers like Kongsgaard, Bond, and Screaming Eagle led the country’s limited trades, but overall, the USA’s presence in the global market remains subdued. This decline reflects ongoing challenges for U.S. wines in the international marketplace, particularly when compared to more established regions like Bordeaux and Burgundy.
Spirits and Wine: A Look at High-Value Trades
In the spirits market, Hennessy Paradis Imperial traded at a high price of GBP 4,167 (EUR 4,800) per 3×70, further highlighting the continued demand for luxury spirits. Meanwhile, Masseto 2021 was the week’s top-traded wine by value, despite recent fluctuations in its price. Released in early September via La Place de Bordeaux at EUR 465 per bottle ex-négociant and priced internationally at GBP 6,200 (EUR 7,100) per 12×75, Masseto 2021 recently traded at GBP 5,880 (EUR 6,800) per case—5.2% below its initial release price.
Petrus and Mouton Rothschild Among Top Wines by Value
Petrus 2011 was the second top-traded wine by value this week, with a magnum trading at GBP 14,023 (EUR 16,200) per 3×150, the equivalent of GBP 28,046 (EUR 32,400) per 12×75. This represents an 11.3% increase from its last traded price of GBP 25,200 (EUR 29,200). Château Mouton Rothschild 2019 also featured prominently, with its recent trade value of GBP 3,800 (EUR 4,400) per 12×75 standing 5.9% above its ex-London release price of GBP 3,588 (EUR 4,150). The 2019 vintage has shown resilience, with some great vintages like 2016 and 2019 of the Pauillac First Growths returning to similar price levels as their initial release.
Village-Level Burgundy Wines Show Strong Trading
Village-level Burgundy wines saw strong trading volumes, despite the region's overall dip in trade value. Jean-Luc & Eric Burguet’s Gevrey-Chambertin Mes Favorites Vieilles Vignes 2015 and Mongeard Mugneret’s Vosne-Romanée 2021 were among the most frequently traded wines. These trades suggest that there is still considerable demand for Burgundy wines at more accessible price points, even as premier wines dominate the headlines.
Carruades de Lafite 2021 Under Pressure
Finally, Carruades de Lafite 2021 is now trading 17.1% below its release price, reflecting the challenges some high-profile wines face in maintaining their initial market value. As the market adjusts, certain wines may struggle to retain their premium pricing, particularly in an environment where other regions and vintages are outperforming expectations.
Conclusion
This week’s wine trade landscape highlighted Bordeaux’s continued dominance, particularly from Right Bank producers and the successful 2019 vintage. While Burgundy experienced a dip, it maintained interest through village-level trades. Tuscany continues to gain traction, closing in on Burgundy’s market share, while Piedmont shows steady growth. On the other hand, the U.S. wine market faces challenges, with its trade share dropping significantly. As global wine markets shift, premium wines and spirits remain at the forefront of high-value trades, though some releases are struggling to maintain their initial pricing in an evolving market.
Source: Liv-ex