Cellar Watch June The Cellar Watch August Market Report has been released.

Containing all the latest Liv-ex research and analysis, the full issue includes:

  • The summer lull
  • Lafite and Carruades action
  • Liv-ex 50 vs First Growth trade share
  • Neal Martin on Bordeaux 2007
  • Final thought: DRC vs First Growth ratio – refusing to revert

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You can download page one – with charts and data – here, or read the text below:

The summer lull

With the fine wine trade temporarily hanging up their boots and heading away for summer, trading on the market dipped in July by both value and volume. Still, the indices held relatively steady and exposure on the exchange—the total value of bids and offers— climbed to a high £40million. August looks set to capture this theme—high exposure, lower trade volumes and limited price movements.

A better Bordeaux month

Bordeaux’s market share crept up from 71.8% to 76.4% in July. This its highest share in an otherwise slow year for the region. Italy’s share halved to 4.3% after a strong previous month, while Burgundy dipped slightly to 8.5%. The USA’s 2.3% share was boosted by activity for 2012 wines from Sine Que Non and Harlan Estate, and several Opus One vintages.

Lafite and Carruades action

Once again, Lafite was the most traded wine on the market in July. Fifteen vintages traded but activity was concentrated in ‘off’ vintages, 2014, 2011 and 2008; the 2007s also found the bid. The estate’s second wine, Carruades Lafite, was the fifth most traded. Other active wines in July included Mouton Rothschild, Petrus, Pavie and Pontet Canet.

Older Bordeaux leading

The broadest measure of the market, the Liv-ex 1000, gained 0.9% in July led by Bordeaux and Italy. The Bordeaux Legends 50, which contains a number of older wines, led the charge (+2%) while the Italy 100 gained 1.5%. The Rhone 100 (-0.5%) was the only sub-index to fall. The Fine Wine 50 (+0.1%) and the Liv-ex 100 (+0.04%) both ran flat in July.

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