Fine wine market drifts lower as Bordeaux regains ground

Italian vintages see robust demand

Fine wine market drifts lower as Bordeaux regains ground

Although wines from Bordeaux enjoyed resurgent demand and accounted for more than 80 percent of trade in the week through October 15, the Liv-ex Fine Wine 50 index fell 0.1 percent, extending the 0.5 percent drop from the previous week.

Beyond Bordeaux, Italy was again well represented and accounted for 8.4 percent of all trade, as compared with 12.3 percent last week and a mere 4.4 percent in September. However, all other regional categories remained muted, with Burgundy dropping even lower than the lows in September with a trade share of just 2.1 percent.

Trade was dominated by Bordeaux, and Bordeaux’s share was dominated by 2010, Liv-ex noted. Nearly 43 percent of the group’s sales came from 2010s, with Haut Brion, whose price is down 26 percent since release at £5,295 per case, topping the trade-by-value chart with 6.1 percent. Lafite 2010 (£5,600) was second with 5.3 percent, while Lafleur (£7,198), Margaux (£5,200) and Montrose(£1,600), all 2010s, completed the top five.

Volume-wise, Italian vintages performed well, with Gaja, Magari 2012 (£96) and Petrolo, Galatrona 2012 (£322) both finding a spot in the top five. Masseto 2009 and 2006 were also well in demand, Liv-ex said. However, it was a Bordeaux wine which topped the chart here too – Cote Baleau 2009 (£91), which accounted for a massive 13.6 percent of all trade by volume –double the share of the runner-up, Gaja, Magari 2012.

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