With concerns over the global economy weakening investor confidence, the First Growths lost their lustre last week and accounted for just a quarter of total trade on Liv-ex. Reticence and softer demand have, of course, had a knock-on effect on pricing. But whilst the Liv-ex Fine Wine 50 Index (which measures the price performance of the First Growths only) continued its descent today, trade outside the Premiers Crus remains strong.
Over the past few days, merchants have overlooked the First Growths and have opted instead for their second wines, Sauternes and chateaux lower down the ranks of the Crus Classes. Carruades, Forts de Latour and Cos d'Estournel topped buyers' wish lists last week, whilst trade in Yquem moved up a gear (or two) and accounted for five per cent of weekly turnover, placing it ahead of Margaux, Latour and Haut Brion.
For cautious buyers on the lookout for value, the table below shows a number of wines that don't require deep pockets. Liv-ex trading members can view live markets here.