Bordeaux, often the bellwether of fine wine trading, saw its share of traded value fall from 33.1% to 29.6% this week. Despite the overall dip, Château Lafite Rothschild remained a strong performer, with multiple vintages—1984, 2006, 2014, 2016, and 2019—trading actively.
This marks another week where Lafite dominates Bordeaux’s presence in the global wine market, reflecting the sustained demand for this iconic producer despite Bordeaux’s broader challenges.
Burgundy Trade Weakens, But Louis Latour Shines
Burgundy also saw a reduction in its trade share, slipping from 24.3% to 22.6%. Surprisingly, Domaine de la Romanée-Conti (DRC), typically a staple in Burgundy’s trade, took a backseat this week. Instead, Louis Latour emerged as the region's top performer, with several 2022 cuvées, including Montrachet Grand Cru and Chambertin Grand Cru Cuvée Héritiers, attracting attention. This shift highlights the growing interest in Burgundy's newer vintages and other high-quality producers outside of DRC.
Champagne’s Trade Share Falls, Bollinger R.D. 2008 Remains Strong
Champagne experienced a more significant drop in trade, with its share falling from 12.4% to 9.4%. Bollinger R.D. 2008, which had topped the Champagne trade for the previous two weeks, continued to lead the region. However, the broader downturn in Champagne's market activity suggests a cooling off, possibly as buyers shift focus to other regions.
USA Wines Boost Trade Share, Led by Screaming Eagle and Opus One
The U.S. wine market displayed notable strength, closing the week with a 10.9% share of traded value. Screaming Eagle led the charge, contributing 26.2% of the region's trade, with Opus One closely following at 25.6%. This strong performance underscores the growing prominence of high-end American wines in the global fine wine market.
Tuscany and Piedmont Gain Ground
Italian wines enjoyed a rise in trade share, with both Tuscany and Piedmont seeing increased activity. In Piedmont, Barolos took center stage, particularly Gaja’s Barolo Sperss 2009, which was the most actively traded. Tuscany’s surge was driven by high volumes of Isole e Olena’s Cepparello 2021 and Poggio di Sotto’s Rosso di Montalcino (vintages 2017 and 2018), which were among the top-traded wines in the region.
Rhône Sees Surge, Château Rayas Leads
The Rhône nearly doubled its trade share, jumping from 2.4% to 4.7%. Château Rayas was a major driver of this increase, accounting for 37.7% of the region's trade. The 2011 and 2012 vintages of Rayas’s Châteauneuf-du-Pape were the top two traded wines, underscoring Rhône’s growing appeal in the fine wine market.
Opus One 2021 Enters the Market
Opus One 2021, recently released via La Place de Bordeaux, quickly climbed the ranks to become one of the top-traded wines by value. The wine, initially offered internationally at GBP 3,000 (EUR 3,495) per 12×75, traded on Liv-ex at GBP 2,634 (EUR 3,070), representing a 12.2% discount. This relatively competitive pricing, alongside Opus One’s strong brand, contributed to its rapid success in the market.
Cepparello and Château Latour Maintain High Trade Volumes
Isole e Olena’s Cepparello 2021 continued to perform well, ranking among the top five wines by both value and volume. It traded at GBP 696 (EUR 811) per 12×75, consistent with last week’s price. Château Latour 2003 also remained a significant player, trading between GBP 6,254 (EUR 7,289) and GBP 6,589 (EUR 7,679) per 12×75, though it reached its lowest price of 2021 at GBP 6,490 (EUR 7,562). Notably, Château Latour 2009 is set to be re-released next week via La Place de Bordeaux, and its current market price stands at GBP 8,600 (EUR 10,022) per 12×75.
Château Beychevelle Finds Stability
Château Beychevelle 2021 ranked second in top-traded wines by volume, with its price rising from GBP 626 (EUR 729) to GBP 664 (EUR 774) per 12×75 this week. Although still below its initial release price of GBP 706 (EUR 822), the increasing demand suggests the wine may have found a stable price floor, indicating potential for future growth.
Outlook: Shifting Trade Dynamics
This week’s trading reflects shifting dynamics within the fine wine market. While Bordeaux’s share continues to wane, Burgundy and Rhône are rising as key regions, and American wines like Screaming Eagle and Opus One are cementing their positions in the global market. With Bordeaux’s Lafite Rothschild remaining a key player and other regions gaining ground, the fine wine market is diversifying, offering opportunities for traders and investors alike.
Source: Liv-ex