After two relatively quiet weeks, trade by both value and volume increased considerably. Burgundy continued to trade well above its historical market share as it has done throughout 2017. This week, this was thanks to activity for the ’13 and ’14 vintages of Ponsot, Clos Roche Vv. The US also continued to grow market share, with its wines accounting for 5.8% of trade.
Conversely Bordeaux’s trade share was much lower than the historical norm, mainly as a result of very thin trading amongst the high value First Growths, which only accounted for 12.2% of trade. The Fine Wine 50 closed lower at 343.33, down 0.3%.
Despite lower than usual trade from the region, the star of the week was undoubtedly Cheval Blanc 1998. An ‘unofficial’ upgrade from Robert Parker who scored the wine at 100 points in Hedonist’s Gazette, caused a near instantaneous 17.1% increase in price. This was the topic of a blog post on Liv-ex Insights yesterday.
Lynch Bages 2014 was among the most traded by volume this week. Across all Bordeaux wines, the 2014s have been the most active Bordeaux vintage by volume this year. Many in the trade are awaiting Neal Martin’s in bottle scores for the vintage, which are due later this afternoon.
Bordeaux 2016 update
This week Liv-ex published its special report, Bordeaux 2016: A new dawn? to members. Market View, the new dynamic dashboard, was also released. You can read what Decanter had to say about it here. The Drinks Business also wrote about the report, and discussed our pricing methodology in more depth in this article.
Earlier today Jean Marc Quarin, released his scores for Bordeaux 2016. He awarded seven wines the perfect 100. On average Quarin awarded a score of 96.1 to the wines Liv-ex is covering for En Primeur, an increase from last year’s average of 93.7 and close to James Suckling’s average score for the vintage of 96.3.