This week, the wine trade market witnessed significant shifts, with Bordeaux's share of trade by value falling dramatically from 40.3% to 28.5%. Burgundy, however, saw a substantial increase, rising to 27.8% from last week's 18.8%, driven by the popularity of Domaine de la Romanée-Conti wines.
Champagne maintained its position as the third most traded region by value, despite a slight decrease in trade share. Tuscany and the USA also reported strong performances, with notable contributions from iconic wines. Meanwhile, Spanish wines continued to trade steadily, reflecting diverse trends across the market.
Bordeaux Trade Share Declines Significantly
Bordeaux experienced a notable decline in its share of trade by value this week, dropping to 28.5% from last week’s 40.3%. This sharp decrease is further underscored by the fact that, unlike the previous week where all top traded wines were from Bordeaux, only one—Le Pin 2020—managed to secure a spot in the top trades this week.
Burgundy's Impressive Performance
Burgundy followed closely behind Bordeaux with a 27.8% share of trade, marking a significant increase from last week's 18.8%. The region's strong performance was largely driven by Domaine de la Romanée-Conti (DRC), whose trades accounted for over 10% of the overall market trade. This highlights the continued demand and value for DRC wines.
Champagne's Steady Trade Share
Champagne, while slightly down from last week’s 12.5% trade share, still secured the third position by value. Despite this minor dip, Salon le Mesnil 2012 emerged as the most traded wine by value. The 2012 vintage has seen fluctuating prices, trading between GBP 10,000 and GBP 12,000 (EUR 11,560 to EUR 13,872) during its peak between late 2021 and October 2022. Although the broader Champagne market has seen a 26% decline since its peak, Salon le Mesnil 2012 remains a lucrative asset for those who managed to acquire it at its release price of GBP 5,800 (EUR 6,705) per 12×75.
Tuscany's Growth
Tuscany's trade share saw a rise from 9.5% to 11.1%. The region's performance was buoyed by strong demand for Sassicaia and Tignanello, with Isole e Olena Cepparello also gaining traction due to the release of Paolo de Marchi’s final vintage. This vintage holds particular significance as Isole e Olena was sold to the EPI group in 2022, marking the end of an era for de Marchi's meticulous work over the past 45 years.
USA's Continued Strength
The USA continued to perform well, with wines from the region making up 8.3% of traded value. Screaming Eagle’s Oakville Cabernet Sauvignon remained a standout, particularly the 2021 and 2019 vintages, which together accounted for over half of the region’s traded value. This reflects the ongoing high demand for this iconic wine.
Diverse Performances in the 'Others' Category
The 'Others' category saw a slight decline in trade compared to last week, yet Spanish wines continued to trade robustly. Domino de Pingus’s Pingus 2021 was the top-traded wine by value from Spain, while Clos Mogador’s Manyetes Vi de Vila Gratallops 2021 led in volume.
Top-Traded Wines by Value and Volume
- Salon le Mesnil 2012: Topped the value trade chart, with its market performance reflective of the broader Champagne trends.
- Screaming Eagle’s Oakville Cabernet Sauvignon 2021: Secured second place by value, underscoring its high market demand.
- Le Pin 2020: Came in third by value, continuing its reputation for exclusivity and high price.
- DRC’s Romanée-Conti Grand Cru 2017: Took fourth place, highlighting the consistent demand for this rare Burgundy.
- Tenuta San Guido’s Sassicaia 2018: Led the volume trades and placed fifth by value, showing remarkable price stability since its release.
Notable Mentions
- Isole e Olena’s Cepparello 2021: Second in volume trades, the wine recently entered the secondary market following its April release in Italy. This vintage marks a significant milestone as the last under Paolo de Marchi’s guidance.
- Clos des Papes 2022: Despite being new to the secondary market, it took fourth place in volume trades. However, its value has depreciated by 30.3% since its En Primeur release, illustrating the challenges new vintages can face in maintaining their initial market prices.
Overall, this week’s trading data reflects dynamic shifts in regional performance and highlights specific wines that continue to capture the interest and investment of collectors and enthusiasts alike.
Source: Liv-ex