The Liv-ex Fine Wine 50 Index continued its upward momentum this week, taking it to its highest level since October 2013. On Thursday, the index closed on 306.19, up 1.8% on the previous week. So far this month it has gained 4.8%.
While the total value of trade dipped, volumes increased as focus turned towards more accessibly priced wines.
Bordeaux’s trade share increased after spending the first two weeks of July under 70%. Nine of the top ten wines traded by value this week were from the region, though only two of these were First Growths. The five Premier Cru represented a low 15.5% of total activity. Of these, Margaux and Haut Brion were the most active, accounting for around one third of the First Growths’ share. The latter has been in focus recently after the 1989 vintage traded at a record high, while Margaux 2012 was the sixth most active wine by value and traded at a fresh high of £3,010 per 12×75. It was the best performing wine of the Fine Wine 50 Index in June, up 10.5% on the previous month.
Burgundy’s share also increased this week. Arlaud, Bourgogne Roncevie 2013 (WA 83-85) and Maison Alex Gambal, Bourgogne Blanc 2011 (WA 85) both found the bid. The ‘Others’ share was lower after activity for Penfolds, Grange 2009 and 2010 lifted the region last week.
Leoville Barton 2010 featured among the top five wines traded this week. It was described by Robert Parker as “one of the spectacular wines of the vintage” and was upgraded from a barrel range of 91-93+ to 96+ points when tasted from bottle in February 2013.