On Friday the Liv-ex Fine Wine 50 posted its tenth increase so far this month, reaching 298.44. Its low point was on 11th July when it hit 294.88, a position not seen since April 2010. Nearly three weeks have passed, and the index has not dropped as low since.
Which wines have made the difference over those weeks? The table below shows the biggest movers within the Liv-ex Fine Wine 50 between 11th and 27th July. Earlier vintages are proving most popular, with Haut Brion 1999 showing an impressive 15% increase, and 2000s and 2005s of other First Growths also demonstrating significant rises.
As shown in the chart below, all of the brands have seen overall increases in value over the last sixteen days. Margaux leads the field with a 2.9% percentage change, and both Lafite Rothschild and Latour are also seeing a rise of over 1%.
It is striking that Lafite is showing the second highest increase in price over the sixteen day period. Lafite was the brand that originally led the charge of the market upwards as its prices skyrocketed and its premium over the other Firsts widened, until this fell sharply following its peak in November 2010. As Lafite’s prices retreated, so did the indices [a subject we will discuss further in the August Cellar Watch Market Report]. Now six of its wines are posting increases since the Liv-ex 50’s low-point.
With the start of August fast approaching, will we see Lafite begin to aid the market’s rise again?