In the latest update from the wine trade market, Bordeaux once again proved its dominance, leading the weekly trade ahead of Burgundy and Champagne.
This week, all five of the top-traded wines hailed from Bordeaux, highlighting the region's enduring appeal and market strength.
Bordeaux's Dominance in Wine Trade
Bordeaux continued to lead the trade by value, increasing its share from 39.8% to 40.3%. The region's success was not solely attributed to high-value wines but was significantly bolstered by high-volume trades. This broad-based support underscores the region's robust appeal across different price points and market segments.
Burgundy's Resurgence
Bouncing back from a weak close last week, Burgundy secured the second spot, accounting for 18.8% of the traded value. The resurgence was driven by the popularity of several Grand Crus. Notable mentions include Domaine Romanée-Conti’s La Tache 2013, Domaine Rapet Pere et Fils’ Corton-Charlemagne 2022, and Bouchard Pere et Fils’ Chevalier-Montrachet 2019. These high-profile trades highlight the continued demand for Burgundy's premier wines.
Champagne's Steady Performance
Champagne held the third position with a 12.5% share of the traded value, slightly down from the previous week's 16.9%. The region's trade was dominated by Taittinger’s Comtes de Champagne Blanc de Blancs 2008, which led in both value and volume. Pol Roger’s Sir Winston Churchill 2002 and Rare 2008 also stood out, tying as the most popular by the number of trades.
Shifts in Italian Wine Trade
While Tuscany's trade share saw a decline, Piedmont experienced a slight increase. This growth was driven by trades involving notable wines such as Roagna's Barbaresco Paje Crichet 2015, Bartolo Mascarello’s Barolo 2015, and Gaja’s Barbaresco 1998. These trades underscore the nuanced shifts within the Italian wine market, reflecting varying levels of demand and collector interest.
Rising Popularity of American Wines
The USA’s trade share saw a week-on-week increase, largely thanks to the renewed interest in Screaming Eagle’s Oakville Cabernet Sauvignon 2021, which received a perfect 100-point score from Antonio Galloni (Vinous) earlier this week. Harlan Estate also saw significant trade, with its 2005, 2006, 2012, and 2014 vintages being particularly sought after. The geographical distribution of buyers showed a diverse interest, with 46.3% of buyers located in the USA, and notable participation from France (26.3%), Germany (13.2%), and the UK (7.3%).
Other Noteworthy Regions
The 'Others' category experienced a decreased trade share, though Spanish producers like Dominio de Pingus, Vega Sicilia, and R. Lopez de Heredia remained popular, indicating sustained interest in select Spanish wines despite broader market trends.
Spotlight on Top Traded Wines
Bordeaux dominated the top five traded wines by value this week:
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Château Pichon Baron 2015: Leading the list, this wine was the most-traded by both value and volume. Since its release at GBP 995 (EUR 1,165) in 2016, its market price has appreciated by 17.7%. The wine has consistently traded above its market price since February 2024, reflecting its strong reputation and high consumer value.
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Cos d’Estournel 2010 and 2012: Both vintages placed among the top five, trading below their market prices of GBP 1,900 (EUR 2,225) and GBP 1,080 (EUR 1,265), respectively. While the 2010 vintage received a higher score of 96 points from Neal Martin and is expected to drink well until 2046, the 2012 vintage, rated 92 points, is best consumed by 2036.
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Château Palmer 2017: Despite the challenging vintage, Palmer 2017 featured prominently, last trading 11.5% below its market price of GBP 1,920 (EUR 2,250). This suggests that lesser-regarded vintages may offer valuable opportunities for discerning buyers.
The wine trade market continues to evolve, with Bordeaux maintaining its leadership, Burgundy showing resilience, and Champagne holding steady. The nuanced shifts within regions like Tuscany and Piedmont, alongside the rising interest in American wines, paint a dynamic picture of global wine trade trends.
Source: Liv-ex