Bordeaux 2013 trade picks up

As the 2013 Bordeaux vintage becomes physical, trade has picked up on the secondary market for certain labels driven by their low prices.

Montrose-barrelsOver the week of 8-14 April, Liv-ex reported that 2013 Lafite was one of the top wines traded by value while four of the top 10 wines traded by volume were 2013 claret as well.

So far this year, the vintage has only accounted for 3.4% of trade by value but last week alone as the wines themselves were actually released that shot up to 16.3%.

Following their en primeur campaign in 2014, prices for the 2013s declined and in January it was pointed out that if one took a cross-section of Left Bank wines no matter what their classification, the 2013s were generally the cheapest available.

Prices for the 2013s have recovered a little since then – the second wines in particular such as Petit Mouton and Pavillon Rouge have seen strong rallies – but they remain the least expensive clarets on the market – at all levels.

As Liv-ex pointed out at the beginning of the year: “If prices for 2013 are compelling compared to vintages already in the market, it will offer further opportunities for buyers looking for accessible entry points to their favourite brands.”

Undoubtedly this is what is behind the recent activity, with buyers opting for brand over quality because, whichever way one tries to cut it, the 2013s are probably the most disappointing set of wines in recent years.

With The Wine Advocate’s freshly appointed Bordeaux critic, Neal Martin, soon to release the in-bottle scores of the vintage as well, it will be interesting to see how this affects trade in the 2013s – if at all.

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