Last week’s Bordeaux bounce was short lived. Although the value of First Growths remained almost unchanged from last week, at just over 27% of the total, the region’s overall market share dropped to 56.1%. There was decreased activity for the wines of the right bank and lower down the classification of left bank.

The Fine Wine 50 fell for four consecutive days, closing Thursday at 352.95, off 0.5% from last week’s close.

Burgundy’s trade share lifted to 21.4%, thanks to stronger interest in the region’s white wines, in particular recent vintages from Coche Drury.

Large volumes of Altesino, Brunello Montalcino 2012 traded, helping Italy’s share climb to 11.3%.

Two wines for the 2007 vintage, Cheval Blanc and Haut Brion, were among the top traded in the past seven days. Collectors that bought either of these wines En Primeur have experienced contrasting returns. While Haut Brion’s last trade price is 34.3% higher than release, Cheval Blanc 2007’s last trade price of £3,609 is just £9 higher than the London opening price established in 2008.

Also on Liv-ex

On Wednesday Liv-ex examined the price ratio between First Growths and their second wines. The current ratio of 2.96 is the lowest it has ever been.

It is unsurprising that the ratio has been falling in 2017 as the Second Wines 50 has been the best performing Bordeaux wine index this year, while the Firsts have been worst, an issue explored in Tuesday’s blog post.

In the news

Jane Anson’s article in Decanter highlighted the recent spate of sales in St-Emilion, forewarning the likelihood that this will lead to increased release prices in the future.

Several publications have also been reporting on the fine wine market in 2017. The Financial Times (subscription) compared the performance of fine wine to Gold and other indices. The Drinks Business looked at the broadening of the market, while Harper’s wrote on Burgundy’s new highs.