This week, the wine trade saw Bordeaux regain its leading position, closely followed by Burgundy, Champagne, Tuscany, and the USA.
Bordeaux claimed the top spot with a substantial 39.0% share of trade value, buoyed by the exchange of several mature, high-value wines such as Petrus 1989, Château Mouton Rothschild 1945, and Château Haut-Brion 1998.
Bordeaux’s Dominance
Bordeaux’s comeback was marked by significant trades involving some of the region’s most prestigious wines. The 1989 vintage of Petrus was the top-traded wine by value this week. Despite a slight downgrade in its score from 100 to 99 by Neal Martin (Vinous) in 2023, the wine remains highly sought after. Its rarity and age, combined with Petrus’s limited production, help protect its price against market fluctuations. The 1945 Château Mouton Rothschild and 1998 Château Haut-Brion also contributed to Bordeaux’s strong performance.
Burgundy’s Share Declines
Burgundy's trade share dropped from 27.8% to 20.1%. Nonetheless, the region saw high-value trades, including those of Domaine de la Romanée-Conti and Domaine Leroy. Additionally, high-volume trades of Marquis d’Angerville’s Clos des Ducs supported the region’s overall trade value. Two high-value Burgundies, Domaine de la Romanée-Conti’s Romanée-Conti Grand Cru and Domaine Leroy’s Romanée-Saint-Vivant Grand Cru, ranked among the top five traded wines.
Champagne Holds Steady
Champagne secured the third position with an 11.7% share of trade. Pol Roger’s Sir Winston Churchill 2015 was the top-traded wine in this category, while Dom Pérignon and Salon emerged as the most popular producers overall. The region’s steady performance highlights the enduring appeal of its premium sparkling wines.
Tuscany and USA’s Mixed Fortunes
Tuscany experienced a slight dip in trade share, though there was a notable increase in demand for Brunellos over the usual Super Tuscans. Biondi-Santi Brunello di Montalcino Riserva 2016 was the top traded wine by value from Tuscany, with Altesino’s Brunello di Montalcino Riserva 2016 also seeing significant activity.
In the USA, Screaming Eagle Cabernet Sauvignon 2021, typically the top-traded Californian wine, did not see any trade this week. Instead, Promontory 2017 and Harlan 2015 led the region's trade.
Other Notable Trades
Beyond the primary regions, Remy Martin's Louis XIII Cognac traded at GBP 2,003 (EUR 2,316) per 1×70, 13.0% below its Market Price. Château Latour 2011 also featured prominently, trading at a 9.5% discount to its Market Price, returning to pricing lows last seen in 2016.
Market Insights
The wine trade’s diversity was evident, with large-volume buyers spreading their purchases across multiple regions. This week’s top wines ranged from GBP 55 (EUR 64) to GBP 1,440 (EUR 1,666) per 12×75, showcasing a broad spectrum of investment levels and consumer preferences. While the Rhône's share of trade value decreased, it produced the top-traded wine by volume, reflecting the region's varied appeal.
Conclusion
This week’s trading highlights the dynamic nature of the wine market, with Bordeaux reclaiming its dominance while Burgundy, Champagne, Tuscany, and the USA continue to play significant roles. The ongoing demand for mature, high-value wines underscores the market’s resilience and the continued interest in premium wines from renowned regions.
Source: Liv-ex