Bordeaux slows decline in secondary market
Bordeaux’s share of trade on the Liv-ex platform steadied last week, registering 40% for the first time in 10 weeks while the Rhône and US continued to make gains.
Bordeaux’s share of trade by value on the Exchange has been sitting below 40% for the better part of September to the present, a historic low, but interest in the 2010 and 2015 vintages (and 2017 by volume) boosted it back above 40% in the week of 13-19 November.
Burgundy’s share of trade fell from 28% to 17.8%, with the region’s white wines accounting for a quarter of its trade, Champagne meanwhile rose from 8.3% to 9.3% of overall trade.
Both have been rather quiet within the wider context of the fine wine market for decades despite having many of the necessary factors – great domains, terroirs, critical acclaim etc – required to drive demand in a secondary environment.
The Rhône’s share of trade rose from 2.3% to 3.6% from the week before last to last, while the US’s share rose from 6.5% to 11.3% in the same period.
The US’s trade was boosted by interest in the 2013 vintage of Screaming Eagle and 2019 ‘Overture’ by Opus One, which were in the top five wine labels traded by value from 13-19 November.
The 2013 Screaming Eagle in fact has risen 50% to £24,960, its highest level since it was first traded just over four years ago.