In this week’s wine market analysis, Bordeaux has maintained its dominant position, capturing a significant 30.5% share of traded value, consistent with last week’s figures.
Notably, Château Lafite Rothschild's various vintages have driven this dominance, accounting for 29.2% of Bordeaux's trade volume. Château Haut-Brion and Château Margaux followed with 11.4% and 9.4% shares, respectively.
While Burgundy's share has decreased from 25.4% to 21.3%, Domaine de la Romanée-Conti (DRC) has experienced a surge in activity. The value of trades involving DRC has increased by 35.5% compared to the previous week. Despite a recent dip in prices, both the volume of trades and the number of transactions for DRC are up year-on-year, as highlighted in a recent Market Update.
Piedmont has nearly doubled its trade share, reaching 6.2% this week. The region’s active trades include several vintages of Giacomo Conterno’s Barolo Monfortino Riserva and Gaja’s Sori San Lorenzo Barbaresco 2016, which featured prominently among top-traded wines by value.
The USA has made notable strides this week, with its share jumping from 2.9% to 11.2%. This increase is largely attributed to high-value trades of Californian wines, including Screaming Eagle, Dominus, and Opus One.
Spain saw a slight decline in its trade share compared to last week. Dominio de Pingus has overtaken Vega Sicilia as the country’s leading producer by trade volume, with several vintages of Flor de Pingus changing hands.
Among the top-traded wines, Bordeaux's Château Lafite Rothschild 2019 stood out, marking its lowest-ever transaction price at GBP 4,700 (EUR 5,447), 8.1% below its initial release price. This significant drop has led to a higher frequency of trades, with early August 2024 already surpassing July’s trade volume.
Screaming Eagle's Oakville Cabernet Sauvignon 2021, also a top-traded wine of H1 2024, secured the second spot this week. Its last trade occurred at 8.4% above its Market Price, indicating its retail scarcity.
Dominus 2014 appeared among the week’s top-traded wines, with recent trades occurring at higher price points (GBP 1,450 to GBP 1,708 per 12×75, EUR 1,681 to EUR 1,980) compared to late July's GBP 1,200 (EUR 1,392) per case. However, these trades remain below the wine's current Market Price of GBP 1,800 (EUR 2,088).
In the Champagne sector, Piper Heidsieck’s Prohibition Edition led by volume, while Bollinger’s Special Cuvée traded frequently. Despite the broader market’s downturn, Bollinger’s prices have remained stable, with large bottle formats trading at a 14.6% discount to the Market Price this week.
Overall, Bordeaux's continued market leadership and the notable activity across Burgundy, Champagne, and the USA highlight a dynamic week in wine trading, with significant movements across various regions and producers.
Source: Liv-ex