The Liv-ex Fine Wine 50 Index was firmer this week, rising 0.4% to 285.21. This is the highest the index has been since March 2014. Trade by volume and value was higher, but Bordeaux activity was noticeably weaker. Market participants have started to turn their attention to the 2015 En Primeur releases and are hoping for prices that will generate demand.
Bordeaux trade share was down with the region achieving 57.6% of total trade by value, well below last week’s share of 74.8%.
First Growth trade represented 14.1% of total trade. Haut Brion and Lafte Rothschild were the most active, representing 31% and 27% of First Growth trade by value.
Burgundy has been rising for the past few weeks and represented 17.6% of trade by value. The ‘Others’ also saw a significant increase at 8.2%, boosted by Penfolds, Grange 2009 (WA 97) – the second highest wine traded by value this week.
Pape Clement 2009 has continued to benefit from Robert Parker’s Hedonist Gazette 100-point score and was the best performing wine of the Left Bank 200 Index in April. The 2015 vintage was released Monday at a significant discount to the 2005, 2009 and 2010 and so sold very well.
It was also a strong week for Italy. The region represented 9.4% of trade by value with Sassicaia’s second wine, Guidalberto 2012 (AG 89) the top wine traded by volume. Altesino, Brunello Montalcino 2010 (AG 92) was the second most traded wine by volume, described by Antonio Galloni as “fresh, lively and very nicely balanced throughout.”
Pontet Canet 2011 (WA 93+) was the fourth most traded wine by value and the third most traded by volume. It is currently the cheapest vintage available in the secondary market at £458 per 12×75.