The Fine Wine 50 Index has continued to rise and closed at 314.21 on Thursday, up 0.5% on the previous week. A number of wines have registered all-time highs on the Exchange and momentum remains strong.
Bordeaux activity was, however, lower this week and trade share was back below 70%. Bordeaux trade had picked up over the first two weeks of August as Sterling weakness saw buyers focus on the region. Sterling is up around 1.6% against the dollar this week.
Italy saw activity increase and was up at 7.8% from 2.9% the previous week. It was boosted by Sassicaia 2010 (AG 96) that traded at an all-time high of £1,255 per 12×75 and was in the top wines traded by volume. Champagne also saw trade by value increase. Cristal 2007 (AG 97) and Bollinger Rd 2002 (WA 96) were both in the top wines traded by value and volume. Cristal 2009 was recently released and was pitched at a similar level to the 2006 and 2007 vintages.
First Growth trade was up at 27.1% from 19.2% last week. Lafite was the most active, representing 55% of First Growth activity. Lafite 2010 (WA 98) was in the top wines traded by value for the second consecutive week. The wine now looks to have found a bottom having fallen since release.
There has been a focus on older high value vintages this week. Lafite 1996 (WA 100) was in the top five wines traded by value and Haut Brion 1995 (WA 96) was in the top ten. Lafite 1996 is up 25% since November 2015. Lynch Bages 2000 (WA 97) was the top wine traded by value and volume this week and is the third highest scored vintage. Robert Parker described the wine as “one of the all-time great examples of Lynch Bages”.
Pontet Canet 2011 (WA 93) was in the top five wines traded by volume again this week. It continues to be a popular wine and is one of the cheapest available physical vintages. It has outperformed the 100-point 2010 vintage since the market bottomed out in November 2015, rising 21%.