The secondary wine market delivered another dynamic week, driven by regional shifts, notable bottle performances, and even a standout Scotch whisky that took the top spot by value.
Bordeaux once again dominated the scene, while Burgundy and Champagne made significant contributions. Meanwhile, Piedmont and the “Others” category—helped by a rare whisky—showed growing strength.
Bordeaux Retains Its Lead
Bordeaux led global secondary market trade by value, accounting for 32.9% of weekly activity. While it had just one wine among the top-traded by value—Château Beychevelle 2021, which also ranked high in volume—it maintained its grip on the market thanks to consistent collector interest and the arrival of recently bottled 2021 releases.
Château Beychevelle 2021, scored 92+ by William Kelley (The Wine Advocate), has proven to be a steady performer. As the 2021 Bordeaux vintage begins to find its place in the market, Beychevelle’s presence suggests growing confidence in the vintage’s potential.
Burgundy’s Grands Crus Drive High-Value Trades
Despite trailing Bordeaux in total share with 21.7%, Burgundy featured strongly in value-led transactions. Two Grands Crus stood out:
- Domaine Ponsot, Clos de la Roche Grand Cru, Cuvée Vielles Vignes 2005
- Domaine Bonneau du Martray, Corton-Charlemagne Grand Cru 2020, which traded multiple times—twice in magnum format at a 23.0% premium over bottle pricing.
These examples reinforce Burgundy’s stature as the go-to region for collectors seeking rare, high-performing wines.
Champagne Surges on Strength of Taittinger
Champagne rose sharply to 12.0% of trade, up from 7.0% last week, thanks largely to the continued market interest in Taittinger’s Comtes de Champagne Blanc de Blancs 2013. The wine, which had led by volume in the prior week, remained in the top five for both value and volume, last trading at GBP 1,160 (EUR 1,359) per 12×75. Its consistent performance highlights the growing appetite for vintage Champagne as both a celebratory and investment-worthy category.
The 'Others' Category and a Star from Scotland
The "Others" category continued its rise, now holding 8.9% of trade—its highest in recent months. The increase was largely due to a high-value outlier:
Macallan Red Collection 78YO (2020), a rare Scotch whisky, was the most traded asset by value. It changed hands at GBP 52,500 (EUR 61,496) per 70cl bottle—well below its peak of GBP 86,177 (EUR 100,944) in 2022. This drop reflects a market correction in the once red-hot ultra-aged whisky segment.
Piedmont’s Promising Performance
Piedmont showed encouraging movement, supported by two 2021 Barbaresco wines from Ca’ Nova among the most traded by volume:
- Ca’ Nova, Barbaresco – 94 points by Antonio Galloni (Vinous)
- Ca’ Nova, Barbaresco Montestefano – an impressive 98 points from the same critic
These wines illustrate how quality, critical acclaim, and fair pricing can propel lesser-known labels into market relevance.
Flat Performance from Rhône and Tuscany
Both the Rhône (4.2%) and Tuscany (10.8%) saw relatively stable trade shares this week, with little movement from the previous week. Their steady performance, without major standout trades, suggests underlying consistency but little short-term excitement in secondary market flows.
US Wines Lose Momentum
The USA saw its trade share slip from 7.9% to 4.8%, with no standout wines appearing in this week's top trade rankings. This represents a cooling off for American wines after strong showings in recent months.
Conclusion
While Bordeaux continues to dominate the fine wine trade, Burgundy, Champagne, and Piedmont showed strong and distinct gains—each for different reasons: historic prestige, vintage Champagne appeal, and emerging quality, respectively. The rare Scotch whisky trade serves as a reminder that diversification in the secondary market is increasing, with collectors venturing beyond wine into premium spirits. As market dynamics evolve, quality, rarity, and timing remain the key drivers of value and volume in the global wine and spirits trade.
Source: Liv-ex