Power 100: The Italian job
While Bordeaux continued to falter in the Liv-ex Power 100 list in 2020, Italy’s wines powered ahead in popularity.
LAST YEAR’S Power 100 hinted at changes in the secondary fine wine market but hadn’t yet fully revealed its hand. Liv-ex co-director Justin Gibbs called it a “transition year”, as trends such as Burgundy’s dominance, Italy creeping up the charts and Bordeaux’s flagging performance continued.
But while not much seemed to have changed, there were some nasty side-squints going on as various players eyed each other up, hands hovering, fingers twitching over their shooting irons. “These trends were already in place,” notes Gibbs in relation to this year’s list. “Bordeaux declining and others gaining, the question was who would gain?”
Going into 2020 it’s been the rising regions that have proved quicker on the draw, and there’s much to unpack in the performance of Burgundy and the US, but, above all else, the story of Italy’s rise as the new powerhouse in the secondary market.
This year’s top 10 (indeed the whole list) is probably the most diverse ever, with just one first growth making the cut and Domaine de la Romanée-Conti falling out completely to its lowest ever position on the Power 100 chart.
Rather than see this as some sort of negative, however, it’s better seeing the change as part of the increased strength of the secondary market. In the face of tariffs and trade wars, Brexit and the Covid-19 pandemic, major indices such as the Liv-ex Fine Wine 100 are, if not quite storming, at least soldiering on.
An increase in automated trading on Liv-ex, connecting buyers with an ever-greater pool of fine wines and reducing the exposure of both the market and collectors to one region over others has proved an extremely timely antidote to what might otherwise have been a very grim state of affairs this year.
EVER-BROADER MARKET
It’s become a bit of a mantra to say that each year’s trade was the broadest, with a record new number of wines and labels traded, but 
2020 is no different.
Over the course of the year between which each Power 100 list is measured (see methodology), the number of wines traded on the Liv-ex platform has risen by 37.2% to 8,734, the number of individual brands rose by 42% to 1,420, and the number of brands that qualified for inclusion on this list rose by 12.8% to 325.
This growth and diversification has forced out five Bordeaux labels and 10 Burgundians, to be replaced by nine Italians, one new Rhône, two new US labels and one new label each from Australia and Spain. However, there is still nothing from either Argentina or Chile yet, it should be noted.
This shift is reflected in the regional share of trade by value too. Last year on the Liv-ex platform, Bordeaux still commanded a 54% share of trade, Burgundy was at 19.5% after three years of rapid gains, Champagne was holding steady at 8.8%, Italy likewise, the Rhône was at 3% and rest of the world the remaining 5.4%.
Bordeaux has been bleeding market share on the Liv-ex platform for the past decade, peaking at 95% of total trade value in 2010. Falling back to 50%+/- is nothing too alarming, it’s actually back to levels seen in the early 2000s. Bordeaux’s share of trade currently stands at 42.8%, and while Gibbs thinks this might be below its “natural level”, rising regions such as Italy are now starting to take share away from Burgundy as well, which will certainly slow if not outright halt Bordeaux’s decline.
Burgundy, meanwhile, has also topped out, and its share of trade to October 2020 is down to 16.9%. Champagne has run flat at 8.7%, the Rhône has crept up to 3.4% of trade as it continues its dogged march onwards, the Rest of the World category has staked a particularly large claim, up to 12.9%, its highest ever slice of trade value, but Italy has managed the biggest coup of the year, almost doubling its trade share from last year to 15.3%.
This is one of the most significant shifts in the fine wine secondary market, breaking the iron grip that French labels and regions have had on this sector for decades in measurable terms and, in real terms, since anyone can probably remember. This momentum has been building for a good decade, and the arrival of Italian fine wine has grown more palpable in the past two or three years.
Sassicaia’s debut in the Power 100’s Top 10 last year was a telling play, and now it is in the top five. Alongside the performance of other Italian fine wine labels (which we’ll get to shortly), there can be no doubt that attractiveness of Italian fine wines has gone beyond being a trend or fly-by-night assignation that collectors had while mad at the pricing of Bordeaux and Burgundy. “Is this Italian thing about to go away?” asks Gibbs. “I’m not sure it is.”
TOP 10 BREAKDOWN
It’s worth quickly breaking down this year’s main hierarchy and picking up those labels that might just be visiting and which ones are here to stay.
The main thing to remember with the Power 100 methodology is that while it takes into account several factors, “the top players in the Power 100 are all about price performance,” says Gibbs.
The most obvious points that leap out when looking at the top 20 are that this is the second straight year with no first growths in the top five, and only one in the top 10 – Haut-Brion leading the way for the first time.
Furthermore, Domaine de la Romanée-Conti has slipped out of the top 10 altogether to its lowest ever position, and several first growths have dropped out of the top 20 too.
As we’ll see this is not a cause for red alert, cancelling your Échezeaux allocation or the like. The market for these labels remains robust, and one only has to glance at which wines are still dominating the auction headlines to see that the first growths and top Burgundies are still highly attractive to collectors.
As explained above, it is a sign that the liquidity and price performance in the secondary market at present has shifted to other brands and other regions.
This was already clear last year but has only crystallised in 2020. Leroy is the only label to stay in the top five from last year and the fact that the other four labels alongside it are completely new is a sign of the churn of the market. No doubt there will be several changes next year as well.
Domaine Leflaive, for example, is benefitting from a big ex-cellar chunk of stock that was released onto the market at the end of last year. Following Anne-Claude Leflaive’s death a few years ago the family decided to sell off a good deal of wine left in the cellars. They were checked, re-corked, re-conditioned and then out they went, and since then Liv-ex has seen trades for these wines going back to 1991. As Gibbs says: “That led to far more activity than we’d normally expect. The secondary market is often starved of these wines, and that put Leflaive right back up there”.
It’s very unlikely Leflaive will be anywhere near this level next year, it’s much like Prieuré-Roch, which last year shot in at number six as a completely new entrant following the death of Henri-Frédéric Roch. This year it’s slipped down to 14, and as the remaining wines are squirrelled away into cellars for drinking or auctioning off at a later date (which will happen with Leflaive as well) its rank will drop further still.
Gaja has had a big bounce from 41st to third place. As Gibbs explains it’s a producer that “set the pace for northern Italy” but stumbled a little with price increases before the market was ready for them. No such quandaries to hold it back now however, “they are back, like so many Barolos and Barbarescos these days,” says Gibbs, adding that Gaja is helped by being a stand-out name for the region and one with “decent volumes”.
Sassicaia made the leap into not just the top 20 but the top 10 last year and has jumped from seventh to fourth place subsequently. If there is one label that could almost be guaranteed to be in this position or even higher next year it is Sassicaia. It’s a real brand, with broad appeal, critical backing, produces decent volumes, and has excellent distribution.
This is a brand that’s here to stay for the foreseeable future.
Penfolds’ position at five, meanwhile, is “slightly surprising”, Gibbs admits, but then again, even though Grange is its leading label, it also has “a shedload of wines trading, and it’s really to do with that as much as anything. It’s led by Grange but there’s plenty besides.”
How long it might hang around for is hard to say. Gibbs says there’s no doubt it’s a “power brand, it just is”, but it’s also heavily reliant on the Asian market, and the outcome of the current China-Australia trade dispute will have important ramifications for the brand next year. “Watch this space,” Gibbs says.
Some other particular highlights of the top tranche of labels are Vega Sicilia, which has doubled the amount of trade it did last year. Backing up Sassicaia are a clutch of other Italians – Ornellaia, Masseto and Solaia – and just to prove it’s not all misery for the likes of Bordeaux, both Palmer and L’Église-Clinet have risen strongly, although the latter has been given a boost following the death of Denis Durantou this May, which often elicits a flurry of activity.
BURGUNDY PAUSES
In last year’s report, while Burgundy was riding high, we noted that it nonetheless felt as if it was entering its ‘endgame’.
With prices high and liquidity low, that all-important price performance was starting to falter, and now, for some brands at least, prices and price performance have topped out completely.
“That’s what’s happened to DRC this year,” remarks Gibbs. Its trade volume is down – “often a sign of prices peaking out” – even though it is still the leading label by number of unique wines traded, and third-place in trades by value. While there still very much exists demand for Domaine de la Romanée-Conti, the problem is that buyers either can’t find it or can’t afford it.
Meanwhile, 10 Burgundian labels dropped out of the top 100 this year, the most of any region, and double that of Bordeaux. Again, this doesn’t herald some sort of end for Burgundy, it’s still a hugely popular category, but it is another sign of the fact that buyers and collectors are buying other things.
And they are buying other wines in Burgundy. The pool of wines Côte d’Or fans are turning to for their Pinot and Chardonnay fix is expanding. Although 10 wines dropped out of the Top 100, another nine qualified for entry (all well below the top 100 in the rankings – for now) and 14 labels in the top 100 rose this year as well.
It’s just apparent from the chart that the sort of names going up – Jacques Prieur, Bouchard Père et Fils, Trapet, Henri Boillot, Faiveley and so on – are not the traditional heavyweights from this region.
There has been a little bit of a slowing down from Burgundy therefore after a spectacular few years. At the coalface of selling, Burgundy remains as popular as ever, the 2019s will no doubt sell out, as offers tend to in January, but with volumes of the very topmost wines still being squeezed by high demand and a lack of liquidity and prices hitting their ceiling are going to plague Burgundy for some time yet.
ITALY TRIUMPHANT
The cause of Burgundy’s unease is the rise of Italy in the fine wine sphere. In a historical inversion it is the Frankish barbarians who now find the Romans (well, Tuscans and Piedmontese) hauling a Nebuchadnezzar-shaped battering ram up to their elegant wrought-iron gates.
The list of Italian labels on the move in and out of the Top 100 and new labels qualifying for inclusion is extensive.
Ten new wines rose up into the top 100 this year, some of them making enormous leaps. For example, Luciano Sandrone jumped 215 places to 62nd, Biondi-Santi went up 165 spots and Tua Rita rose by 153 places on the list.
The top 20 is now peppered with Italian wines, with record high rankings for Sassicaia, Gaja, Ornellaia, Masseto and Solaia. Although Piedmontese wines are starting to rise – Gaja’s position being a key indicator of that – it’s still the power brands of Tuscany that are leading the way. On the other hand, as Goedhuis’ business development director, Georgina Crawley, posits, the tipping point for Piedmont seems to be approaching.
She notes that there is, “interest across the board, with old names competing against up-and-coming producers and young growers going back to how they used to make wine in Piedmont, and that’s really driven a huge amount of interest in the region”.
Furthermore, while it’s definitely the ‘Côte de Nuits’ of Italy in terms of production size and diversity, it also has a “diversity of price, which is incredibly attractive”, thinks Crawley.
In terms of variety, quality and value Italy has so much to offer buyers and collectors, and those in the UK in particular are starting to really appreciate what the country is capable of.
Arguably this year’s release of the 2015 Brunellos and 2016 Barolos – two bravura vintages that follow on from an equally strong 2015 crop in Bolgheri – have really helped set the seal of Italy’s emergence in the UK fine wine market.
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Brett Fleming, managing director of Italian specialist Armit Wines, notes: “Prices are still some way off where top-end Bordeaux and Burgundy sits – a few exceptions aside,” and it has led to a, “significant increase in inquiries into the top labels of our Italian producers, and we don’t see that going away”.
Particularly in a post-Covid landscape, with its on-trade bastion restored: “I’m very bullish and think Italy has enormous potential in the UK,” Fleming says.
Gibbs, meanwhile, also singled out Tignanello as a brand to watch. Currently lagging behind its fellow high-flying Super Tuscans, like its Antinori stablemate Solaia, Gibbs sees it as “settling into its stride”. With good volumes, wide distribution, relative value compared with its peers, high profile advocates such as Meghan Markle and Boris Johnson and frequent appearances in leading ‘wines of the year’ lists keep its brand prominent. It rose this year from 71st to 35th place, unflashy but steady progress. Regardless of positioning, this year has really brought home how far Italy has come in the fine wine world. It has knocked down the gilded gates set up by Bordeaux and Burgundy and made itself a place at the high table.
US RISING
Another region coming on strongly, and worth keeping an eye on is the US. It’s still only a small part of the overall market, with five wines
in the Power 100, but its trade share has risen steeply, all of the US wines that qualified for this year’s Power 100 went up and, furthermore, there were 11 new labels that qualified, more than double the number in 2019.
Big names in the US (by which we are referring to a predominantly Californian/Napa group) have been well known in fine wine circles for decades, but their impact and spread has been very limited. Made in small quantities, with a high opening prices and with limited, usually domestic, distribution, 10 years ago only four labels were being traded on Liv-ex, and their share of trade by value was a mere 0.1%.
It would be easy to conclude that US wines are doing well because domestic buyers are seeking refuge in home-grown wines because of the 25% tariffs imposed on European imports.
In fact, trade on Liv-ex’s shows demand around the world, but most especially in the UK, which has accounted for 63% of US wines’ sales by value this year.
As Berkmann Wines’ purchasing director, Alex Hunt MW, remarks, in the past it was tempting in the UK to scorn US wines as “overripe, over-oaked, and over-priced” but also thankfully ‘over there’, with a few honourable exceptions in the shape of Opus One and Ridge.
Little by little this façade has been chipped away, however, to the point that there is a serious following of these American labels among UK collectors now. Talk to merchants and many now have their own agencies, from Sonoma, Paso Robles or elsewhere, a situation that was unimaginable even five years ago.
Hunt puts this down to factors including a “rebalancing of the stylistic spectrum” towards fresher, more elegant wines that appeal to European-trained palates, continued advocacy by merchants and writers to show that US wines are also stylistically and regionally diverse, and pricing that no longer looks mad in the face of the soaring cost of top-flight claret or Burgundy. And to this must definitely be added the fact that distribution for these wines has improved markedly, both through agents such as Thorman Hunt and through a mounting presence in La Place de Bordeaux.
It’s all quite London-centric, currently, and UK trade is most active when there are releases in the spring and autumn – though Crawley notes that when a good cellar of aged Harlan or Colgin become available it “causes a huge stir” – compared with what went before it’s a radical change, and points to a stronger future for US wines’ performance in the secondary market.
LAST BUT NOT LEAST
We could not tie up an examination of the Power 100 without at least quickly summarising the performance of three other major French regions; Bordeaux, Champagne and the Rhône Valley.
The Rhône, like the US, is a producer of fine wines that few would question but which has, nonetheless, failed to make a serious impact on the secondary market, despite having many dedicated champions and a litany of high scores.
It’s share of trade by value rose only marginally in 2020, and several key labels saw their position on the chart weaken – with the weaker (compared with the 2015-2017 run) 2018 vintage perhaps behind the softer trading.
That said, Liv-ex did issue a report recently on the Rhône that was broadly more positive. Its performance in 2020 is third behind Italy and Champagne. It’s a region with accessible price points into the world of fine wine – five cases of a top southern Rhône can cost the same as one of Penfolds Grange or a first growth, and even a more expensive northern Rhône cuvée can be over seven times cheaper than a leading Burgundian label. Don’t expect a massive Burgundy-style surge anytime soon, but with a broadening market in place the Rhône has many innate qualities that fine wine collectors are bound to find appealing.
Champagne, meanwhile, has had another quietly understated year. Although its share of trade held steady at 8.8%, the Champagne 50 index is actually the best-performing sub-index on the Liv-ex Fine Wine 1000, up by over 6% on the year to date.
Louis Roederer and Krug, which were in the top five last year have slipped, Krug down to 20th place, but Dom Pérignon (previously listed as Moët & Chandon) has climbed to its highest ever position, and Taittinger (fuelled by the popularity of its Comtes de Champagne) has stormed back into the top 100 as well – it is the number sixth label traded by volume. There were also gains for Bollinger and Pol Roger. Not especially wild perhaps but Champagne is now firmly established in the secondary market, with powerful, well-distributed brands that give it real clout.
BORDEAUX BECKONS
And finally, Bordeaux. Once a region that would have got automatic first billing in any round-up, as its share of trade sinks lower there’s rather less to discuss this time but that’s not to say that there aren’t a few things worth keeping an eye on.
To start with there’s still lots of Bordeaux being traded by volume and value. Once again, Lafite is the most traded wine by value on the Liv-ex platform, backed up by Mouton Rothschild, while Petrus is fourth, and Haut-Brion fifth, with Margaux, Latour, La Mission Haut-Brion, Pontet-Canet, Cheval Blanc, Cos d’Estournel and Angélus all top 20 wines traded by value too.
To reiterate what was said in relation to Burgundy, the drop in position on the Power 100 chart does not indicate any lack of demand in a brand, merely that it is under-performing in an area such as price performance. This is why labels such as Petrus and Le Pin, which represent the upper limit of Bordeaux pricing, slipped down the chart this year, because their prices have little room to manoeuvre in the face of those from Italy and even other Bordeaux estates.
Château Latour slipped from 10th place to 27th, its lowest ever ranking. Its en primeur withdrawal is no doubt a factor here, as Gibbs says you “can’t 
underperform on price and squeeze the market”. This is a problem for Bordeaux in general, given the much-talked-about reduction in volumes being released en primeur each year, with some estates releasing as little as 50%. Previous high flyer Les Carmes Haut-Brion has also taken a step back. Gibbs explains that with its low production it is “lacking a certain amount of liquidity” which is also being hampered by buyers, Gibbs suspects, sitting on what stock they have because they “suspect it’s undervalued”.
Price performance has also suffered as a result of some rapid gains made by vintages in the past couple of years. As Gibbs says, “like Canon, it has had a run and then it needs to settle into that new price point before it can move on”. There’s a lot of faith in what Les Carmes and other estates at its level are up to and their time will no doubt come.
It is also worth highlighting the potential of L’Évangile. The Lafite stablemate enjoyed an Italianate jump of 90 places between 2019 and 2020 from 127th to 37th place.
“What’s going on?” asks Gibbs. Evangile is an estate that pushed it price considerably a few years back, before the market was really ready for it, and that lead to a rather muted reception for the wines for many years. With the fine wine market picking up in 2015, however, the estate also began stringing together some excellent wines that have been picking up solid critical praise en primeur that has continued in-bottle.
“That would seem to be a turning point,” observes Gibbs. “Something’s going on. There’s a sense they’re making wines that justify the price and there has been a recovery in attitude to L’Évangile.”
A movement in off-vintages, which has driven its price performance, also suggests interest in the Asian market with its desire for drinking wines.
Given Lafite Rothschild’s CEO, Jean-Guillaume Prats, has a real focus on the Asian market perhaps it’s where he sees a home for L’Évangile? “If Asia loves all things Rothschild,” says Gibbs, “why not love Évangile?”
Overall, Bordeaux seems to be out of free-fall even if its share of trade may yet decline a little more. That said, at the time of writing Bordeaux’s weekly share of trade on Liv-ex rose above 40% again, having languished below that mark for much of September to November. A sign of stability at last perhaps?
In conclusion, this year’s Power 100 list is a fascinating reflection of what is a moment of substantial change in the market; one that is broader but also more connected than ever before with Liv-ex’s automated trading cited as an important factor in the steady rise in the number of wines changing hands.
The Italian narrative is now well established and Champagne continues to ride high. At least for the moment the door has shut on Burgundy’s former progress, but a moment of opportunity beckons for the US and the Rhône instead.
It seems highly likely that after the stability of Bordeaux and Burgundy’s dominance atop the Power 100 for so long, the top of the rankings might be in for a few years of turbulence as new players continue to rise and jostle and jockey for position.
The vibrant state of the market is also a sign that despite the tide of Brexit, US tariffs, trade wars and the disruptive advent of Covid-19, the global appetite for fine wine continues to be un-sated and that it’s still a place enthusiasts want to spend their money.
“Wine is a versatile product and it needs to keep evolving,” says Crawley. “The world has become a great basket of amazing and versatile wines people can access with ease. I couldn’t feel more optimistic about next year.”
And with all the great (or so they currently seem) vintages set for release next year; 2019 Burgundies, 2020 Bordeaux, 2018 Super Tuscans and so on, there are a lot of positives to take forward into 2021.
Liv-ex Power 100: the top 20 fine wine brands
Source: Liv-ex
| Brand | Overall ranking | Score | Value & Volume |
Value Traded | Value Traded | Avg. Trade Price | Price Performance | Unique Wines Traded | ||||||
| 2020 | 2019 | Rank | Share | Rank | Share | Rank | Price | Rank | Change | Rank | Number | Rank | ||
| Leroy | 1 | 3 | 149.5 | 39 | 0.84% | 30 | 0.39% | 63 | £2,878 | 44 | 8.68% | 34 | 55 | 13 |
| Leflaive | 2 | 41 | 171.5 | 27 | 0.86% | 26 | 0.52% | 43 | £2,199 | 63 | 5.99% | 66 | 81 | 2 |
| Gaja | 3 | 34 | 177.5 | 27 | 0.77% | 33 | 0.57% | 36 | £1,801 | 84 | 7.02% | 48 | 65 | 5 |
| Sassicaia (San Guido) | 4 | 7 | 197 | 2 | 2.00% | 9 | 2.04% | 1 | £1,305 | 121 | 9.31% | 28 | 32 | 45 |
| Penfolds | 5 | 30 | 208.5 | 23 | 1.21% | 19 | 0.51% | 44 | £3,129 | 39 | 3.27% | 126 | 57 | 9 |
| Ornellaia | 6 | 91 | 224 | 12 | 1.06% | 21 | 1.20% | 12 | £1,171 | 138 | 9.56% | 25 | 34 | 43 |
| Dom Pérignon | 7 | 9 | 231 | 4 | 2.07% | 8 | 1.72% | 5 | £1,601 | 103 | 3.73% | 112 | 56 | 10 |
| Haut-Brion | 8 | 16 | 243.5 | 7 | 2.48% | 5 | 0.87% | 17 | £3,796 | 35 | 1.34% | 183 | 52 | 15 |
| Masseto | 9 | 72 | 273 | 64 | 0.84% | 29 | 0.20% | 113 | £5,457 | 16 | 5.71% | 71 | 23 | 90 |
| Louis Roederer | 10 | 5 | 282 | 6 | 1.92% | 10 | 1.45% | 8 | £1,761 | 88 | 2.21% | 155 | 37 | 30 |
| Lafite Rothschild | 11 | 19 | 2.85.5 | 1 | 6.39% | 1 | 1.82% | 4 | £4,671 | 21 | -1.18% | 256 | 61 | 7 |
| Vega Sicilia | 12 | 26 | 286 | 48 | 0.53% | 47 | 0.38% | 64 | £1,856 | 78 | 6.99% | 50 | 24 | 86 |
| Solaia (Antinori) | 13 | 57 | 290 | 44 | 0.57% | 46 | 0.40% | 60 | £1,908 | 75 | 14.98% | 6 | 15 | 143 |
| Prieure Roch | 14 | 6 | 291 | 134 | 0.35% | 63 | 0.09% | 213 | £5,187 | 17 | 10.03% | 22 | 30 | 51 |
| Georges Roumier | 15 | 18 | 294.5 | 97 | 0.83% | 31 | 0.11% | 182 | £9,741 | 8 | 3.32% | 123 | 44 | 18 |
| Palmer | 16 | 25 | 298.5 | 21 | 0.92% | 25 | 0.66% | 30 | £1,840 | 80 | 2.31% | 154 | 36 | 33 |
| Mouton Rothschild | 17 | 14 | 302.5 | 3 | 4.21% | 2 | 1.37% | 10 | £4,075 | 29 | -1.27% | 259 | 56 | 10 |
| La Mission Haut-Brion | 18 | 24 | 314.5 | 15 | 1.52% | 12 | 0.67% | 28 | £3,022 | 42 | 0.16% | 220 | 37 | 30 |
| L’Église-Clinet | 19 | 76 | 320.5 | 59 | 0.38% | 58 | 0.31% | 81 | £1,614 | 100 | 6.62% | 59 | 26 | 73 |
| Krug | 20 | 4 | 321 | 54 | 0.66% | 40 | 0.28% | 85 | £3,088 | 40 | 3.84% | 110 | 23 | 90 |
Liv-ex Power 100: 21 to 40 of the top fine wine brands
Source: Liv-ex
| Brand | Overall ranking | Score | Value & Volume |
Value Traded | Value Traded | Avg. Trade Price | Price Performance | Unique Wines Traded | ||||||
| 2020 | 2019 | Rank | Share | Rank | Share | Rank | Price | Rank | Change | Rank | Number | Rank | ||
| Romanée-Conti | 21 | 2 | 326 | 94 | 2.85% | 3 | 0.09% | 206 | £39,934 | 2 | 1.36% | 182 | 87 | 1 |
| Margaux | 22 | 12 | 330.5 | 11 | 2.24% | 7 | 0.75% | 22 | £3,939 | 33 | -1.91% | 271 | 56 | 10 |
| Joseph Drouhin | 23 | 10 | 331 | 50 | 0.59% | 44 | 0.34% | 70 | £2,271 | 59 | 1.06% | 193 | 71 | 4 |
| Pichon Longueville | 24 | 21 | 337 | 38 | 0.49% | 49 | 0.54% | 42 | £1,216 | 133 | 3.71% | 114 | 36 | 33 |
| Comtesse de Lalande Armand Rousseau |
25 | 1 | 341.5 | 63 | 1.27% | 18 | 0.18% | 123 | £9,548 | 9 | -0.37% | 233 | 65 | 5 |
| Lafleur | 26 | 22 | 343 | 120 | 0.48% | 50 | 0.10% | 204 | £6,535 | 12 | 4.70% | 90 | 28 | 61 |
| Latour | 27 | 10 | 351 | 14 | 1.84% | 11 | 0.70% | 26 | £3,487 | 36 | -2.35% | 277 | 46 | 17 |
| Vieux Château Certan | 28 | 28 | 355 | 52 | 0.45% | 51 | 0.36% | 69 | £1,679 | 93 | 3.94% | 106 | 25 | 78 |
| Cheval Blanc | 29 | 17 | 358 | 24 | 1.37% | 15 | 0.47% | 50 | £3,862 | 34 | -1.16% | 255 | 36 | 33 |
| Bouchard Pere et Fils | 30 | 74 | 359 | 116 | 0.18% | 104 | 0.15% | 142 | £1,536 | 106 | 6.66% | 58 | 42 | 21 |
| Bollinger | 31 | 43 | 362 | 40 | 0.38% | 57 | 0.50% | 46 | £1,014 | 164 | 5.66% | 73 | 27 | 65 |
| Ducru-Beaucaillou | 32 | 54 | 366.5 | 31 | 0.65% | 41 | 0.66% | 41 | £1,320 | 119 | 2.02% | 162 | 35 | 39 |
| Jacques-Frédéric Mugnier | 33 | 70 | 370 | 118 | 0.34% | 65 | 0.11% | 188 | £4,074 | 30 | 6.55% | 62 | 21 | 101 |
| Angélus | 34 | 44 | 372 | 22 | 1.19% | 20 | 0.57% | 37 | £2,779 | 45 | -0.52% | 240 | 29 | 54 |
| Tignanello (Antinori) | 35 | 71 | 382 | 18 | 0.71% | 36 | 1.11% | 15 | £850 | 188 | 8.92% | 32 | 16 | 135 |
| d’Yquem | 36 | 33 | 384 | 46 | 0.59% | 43 | 0.38% | 66 | £2,070 | 69 | 1.02% | 195 | 30 | 51 |
| L’Evangile | 37 | 127 | 386 | 84 | 0.23% | 83 | 0.22% | 104 | £1,364 | 117 | 8.28% | 36 | 20 | 107 |
| Trapet Père et Fils | 38 | 79 | 390.5 | 113 | 0.26% | 75 | 0.14% | 156 | £2,493 | 52 | 6.84% | 54 | 19 | 115 |
| Faiveley | 39 | 77 | 394.5 | 45 | 0.44% | 52 | 0.43% | 55 | £1,371 | 116 | 0.46% | 209 | 81 | 2 |
| Léoville Las Cases | 40 | 46 | 396 | 30 | 0.68% | 39 | 0.64% | 32 | £1,415 | 112 | 0.38% | 213 | 39 | 26 |
Liv-ex Power 100: 41 to 60 of the top fine wine brands
Source: Liv-ex
| Brand | Overall ranking | Score | Value & Volume |
Value Traded | Value Traded | Avg. Trade Price | Price Performance | Unique Wines Traded | ||||||
| 2020 | 2019 | Rank | Share | Rank | Share | Rank | Price | Rank | Change | Rank | Number | Rank | ||
| Jacques Prieur | 41 | 88 | 400 | 124 | 0.14% | 126 | 0.15% | 138 | £1,175 | 136 | 11.74% | 13 | 27 | 65 |
| Opus One | 42 | 48 | 403.5 | 47 | 0.62% | 42 | 0.36% | 68 | £2,264 | 61 | 3.18% | 129 | 15 | 143 |
| Cos d’Estournel | 43 | 38 | 405.5 | 9 | 1.30% | 16 | 1.40% | 9 | £1,231 | 131 | 0.38% | 214 | 31 | 47 |
| Montrose | 43 | 29 | 405.5 | 17 | 0.81% | 32 | 0.85% | 18 | £1,271 | 126 | 0.50% | 207 | 31 | 47 |
| Pol Roger | 45 | 62 | 407.5 | 61 | 0.29% | 69 | 0.34% | 71 | £1,142 | 141 | 5.85% | 68 | 20 | 107 |
| Henri Boillot | 46 | 85 | 408 | 90 | 0.25% | 77 | 0.19% | 120 | £1,787 | 85 | 2.04% | 161 | 38 | 27 |
| Comte Georges de Vogüé | 46 | 8 | 408 | 104 | 0.44% | 53 | 0.13% | 168 | £4,599 | 22 | 0.40% | 212 | 44 | 18 |
| Taittinger | 48 | 119 | 411 | 8 | 1.29% | 17 | 1.66% | 6 | £1,034 | 160 | 3.60% | 118 | 18 | 121 |
| Screaming Eagle | 49 | 114 | 412.5 | 71 | 2.26% | 6 | 0.14% | 155 | £21,665 | 6 | -0.40% | 235 | 27 | 65 |
| Pavie | 50 | 42 | 416 | 32 | 0.85% | 27 | 0.49% | 47 | £2,325 | 57 | -1.20% | 257 | 29 | 54 |
| Giacomo Conterno | 51 | 102 | 416.5 | 25 | 1.40% | 14 | 0.44% | 54 | £4,254 | 26 | -2.13% | 275 | 25 | 78 |
| Léoville Barton | 52 | 63 | 433 | 16 | 0.73% | 35 | 1.19% | 14 | £815 | 198 | 1.90% | 167 | 33 | 44 |
| Pontet-Canet | 53 | 84 | 438.5 | 5 | 1.42% | 13 | 1.89% | 2 | £994 | 167 | 1.26% | 186 | 25 | 78 |
| E. Guigal | 54 | 20 | 441 | 20 | 0.73% | 34 | 0.79% | 19 | £1,237 | 130 | -1.81% | 267 | 51 | 14 |
| Biondi-Santi | 55 | 219 | 444 | 110 | 0.21% | 89 | 0.15% | 141 | £1,774 | 87 | 9.24% | 30 | 13 | 162 |
| Rauzan-Ségla | 56 | 63 | 446 | 70 | 0.19% | 97 | 0.40% | 61 | £642 | 233 | 7.04% | 47 | 28 | 61 |
| Jean-Claude Ramonet | 57 | 26 | 447 | 138 | 0.17% | 109 | 0.13% | 169 | £1,803 | 83 | 3.96% | 103 | 29 | 54 |
| Lynch Bages | 58 | 52 | 448 | 12 | 1.00% | 22 | 1.28% | 11 | £1,035 | 159 | -0.47% | 238 | 36 | 33 |
| Ausone | 59 | 81 | 452.5 | 73 | 0.70% | 37 | 0.17% | 127 | £5,476 | 15 | -0.95% | 250 | 25 | 78 |
| Pierre-Yves Colin-Morey | 60 | 80 | 459.5 | 135 | 0.10% | 160 | 0.20% | 117 | £685 | 219 | 11.12% | 17 | 42 | 21 |
Liv-ex Power 100: 61 to 80 of the top fine wine brands
Source: Liv-ex
| Brand | Overall ranking | Score | Value & Volume |
Value Traded | Value Traded | Avg. Trade Price | Price Performance | Unique Wines Traded | ||||||
| 2020 | 2019 | Rank | Share | Rank | Share | Rank | Price | Rank | Change | Rank | Number | Rank | ||
| Harlan Estate | 61 | 89 | 462 | 66 | 0.92% | 24 | 0.18% | 124 | £6,974 | 10 | 0.20% | 218 | 16 | 135 |
| Luciano Sandrone | 62 | 277 | 464 | 110 | 0.16% | 115 | 0.20% | 115 | £1,051 | 156 | 7.05% | 46 | 22 | 97 |
| Bartolo Mascarello | 63 | 157 | 468 | 140 | 0.20% | 90 | 0.11% | 189 | £2,471 | 54 | 5.04% | 83 | 18 | 121 |
| Beaucastel (Famille Perrin) | 64 | 66 | 468.5 | 35 | 0.34% | 64 | 0.78% | 21 | £580 | 247 | 2.52% | 144 | 40 | 25 |
| M. Chapoutier | 65 | 45 | 476.5 | 135 | 0.12% | 140 | 0.15% | 137 | £1,025 | 162 | 3.95% | 104 | 58 | 8 |
| Keller | 66 | 149 | 477.5 | 77 | 0.34% | 66 | 0.23% | 100 | £1,931 | 74 | -1.98% | 272 | 47 | 16 |
| Casanova di Neri | 67 | 155 | 480 | 76 | 0.21% | 86 | 0.32% | 79 | £885 | 182 | 8.00% | 41 | 15 | 143 |
| Pape Clément | 68 | 52 | 480.5 | 33 | 0.42% | 54 | 0.70% | 27 | £800 | 202 | 1.48% | 178 | 30 | 51 |
| Petrus | 69 | 35 | 481.5 | 69 | 2.74% | 4 | 0.14% | 153 | £26,127 | 4 | -5.25% | 309 | 27 | 65 |
| Jean-Louis Chave | 70 | 59 | 485 | 192 | 0.12% | 142 | 0.06% | 249 | £2,454 | 56 | 4.90% | 87 | 29 | 54 |
| Fontodi | 71 | 117 | 487.5 | 49 | 0.26% | 72 | 0.56% | 40 | £627 | 234 | 4.42% | 94 | 24 | 86 |
| Dominus | 72 | 82 | 489.5 | 71 | 0.30% | 68 | 0.26% | 93 | £1,542 | 105 | 1.97% | 163 | 19 | 115 |
| Louis Jadot | 73 | 58 | 490.5 | 161 | 0.11% | 148 | 0.12% | 177 | £1,282 | 124 | 3.93% | 107 | 44 | 18 |
| Poggio di Sotto | 74 | 110 | 493 | 140 | 0.13% | 127 | 0.14% | 152 | £1,274 | 125 | 11.51% | 15 | 15 | 143 |
| Figeac | 75 | 31 | 494.5 | 53 | 0.38% | 59 | 0.39% | 62 | £1,285 | 123 | 0.51% | 206 | 24 | 86 |
| Vietti | 76 | 120 | 496.5 | 25 | 0.51% | 48 | 0.78% | 20 | £872 | 184 | -0.13% | 228 | 31 | 47 |
| Pichon Baron | 77 | 23 | 497.5 | 29 | 0.59% | 45 | 0.71% | 25 | £1,094 | 147 | -0.56% | 242 | 27 | 65 |
| Etienne Sauzet | 77 | 60 | 497.5 | 91 | 0.15% | 117 | 0.30% | 83 | £653 | 230 | 4.29% | 98 | 36 | 33 |
| La Conseillante | 79 | 83 | 500.5 | 107 | 0.16% | 111 | 0.21% | 112 | £1,063 | 152 | 5.07% | 81 | 20 | 107 |
| Des Comtes Lafon | 80 | 99 | 506 | 122 | 0.20% | 93 | 0.13% | 165 | £2,021 | 71 | 1.65% | 174 | 25 | 78 |
Liv-ex Power 100: 81 to 100 of the top fine wine brands
Source: Liv-ex
| Brand | Overall ranking | Score | Value & Volume |
Value Traded | Value Traded | Avg. Trade Price | Price Performance | Unique Wines Traded | ||||||
| 2020 | 2019 | Rank | Share | Rank | Share | Rank | Price | Rank | Change | Rank | Number | Rank | ||
| Le Pin | 80 | 51 | 506 | 150 | 0.84% | 28 | 0.04% | 280 | £26,410 | 3 | 3.63% | 116 | 13 | 162 |
| Léoville Poyferre | 82 | 55 | 513 | 10 | 0.94% | 23 | 1.88% | 3 | £664 | 228 | 0.31% | 216 | 29 | 54 |
| De Montille | 83 | 134 | 518.5 | 167 | 0.14% | 124 | 0.08% | 219 | £2,189 | 64 | 4.82% | 89 | 19 | 115 |
| Jean Grivot | 84 | 159 | 522 | 176 | 0.13% | 131 | 0.08% | 225 | £2,078 | 68 | 2.41% | 151 | 35 | 39 |
| Salon | 85 | 13 | 525.5 | 121 | 0.39% | 56 | 0.10% | 200 | £5,168 | 18 | 1.97% | 164 | 13 | 162 |
| Dominio de Pingus | 86 | 150 | 527 | 66 | 0.36% | 61 | 0.27% | 87 | £1,728 | 89 | -0.28% | 232 | 20 | 107 |
| Robert Groffier | 87 | 124 | 527.5 | 113 | 0.19% | 96 | 0.16% | 135 | £1,635 | 97 | 1.22% | 188 | 26 | 73 |
| Tua Rita | 88 | 241 | 536 | 34 | 0.36% | 60 | 0.73% | 23 | £654 | 229 | 2.12% | 159 | 22 | 97 |
| Bruno Giacosa | 89 | 31 | 542 | 86 | 0.22% | 84 | 0.21% | 180 | £1,374 | 115 | -1.67% | 265 | 36 | 33 |
| Gruaud Larose | 89 | 91 | 542 | 86 | 0.14% | 120 | 0.33% | 72 | £587 | 243 | 3.30% | 125 | 32 | 45 |
| Ponsot | 91 | 36 | 545 | 124 | 0.24% | 80 | 0.11% | 184 | £2,903 | 43 | -0.95% | 251 | 27 | 65 |
| Calon Ségur | 91 | 65 | 545 | 80 | 0.19% | 98 | 0.31% | 80 | £815 | 199 | 2.36% | 153 | 26 | 73 |
| Paul Jaboulet Aîné | 93 | 136 | 546.5 | 93 | 0.16% | 113 | 0.26% | 91 | £794 | 203 | 1.91% | 165 | 35 | 39 |
| Arnoux-Lachaux | 93 | 77 | 546.5 | 207 | 0.07% | 195 | 0.09% | 216 | £1,028 | 161 | 12.82% | 10 | 27 | 65 |
| Smith Haut Lafitte | 95 | 98 | 548 | 40 | 0.35% | 62 | 0.55% | 41 | £832 | 191 | -0.58% | 243 | 29 | 54 |
| Quintarelli Giuseppe | 95 | 206 | 548 | 110 | 0.16% | 114 | 0.20% | 116 | £1,062 | 154 | 3.26% | 128 | 21 | 101 |
| Les Carmes Haut-Brion | 97 | 61 | 550.5 | 37 | 0.40% | 55 | 0.58% | 35 | £933 | 176 | 2.15 | 157 | 13 | 162 |
| Beychevelle | 98 | 66 | 552 | 18 | 0.68% | 38 | 1.20% | 13 | £761 | 208 | -0.71% | 244 | 26 | 73 |
| Henschke | 99 | 177 | 552.5 | 149 | 0.17% | 108 | 0.11% | 191 | £2,101 | 67 | 1.28% | 184 | 25 | 78 |
| Caymus | 100 | 204 | 554 | 56 | 0.26% | 76 | 0.45% | 52 | £756 | 211 | 10.96% | 19 | 8 | 240 |
Number of wines in the Liv-ex Power 100 by region
| Region | 2016 | 2017 | 2018 | 2019 | 2020 | Change |
| Bordeaux | 57 | 53 | 45 | 42 | 37 | -5 |
| Burgundy | 19 | 24 | 29 | 34 | 24 | -10 |
| Italy | 9 | 8 | 10 | 8 | 17 | 9 |
| Champagne | 6 | 6 | 7 | 7 | 7 | 0 |
| Rhône | 3 | 3 | 4 | 4 | 5 | 1 |
| US | 3 | 3 | 3 | 3 | 5 | 2 |
| Spain | 1 | 1 | 1 | 1 | 2 | 1 |
| Australia | 2 | 2 | 1 | 1 | 2 | 1 |
| Argentina | 0 | 0 | 0 | 0 | 0 | 0 |
| Chile | 0 | 0 | 0 | 0 | 0 | 0 |
| Germany | 0 | 0 | 0 | 1 | 1 | 0 |
Top 10 biggest risers in the top 100: 2019-2020
| 2020 | 2019 | Wine | Region | Change |
| 62 | 277 | Luciano Sandrone | Piedmont | 215 |
| 55 | 219 | Biondi-Santi | Tuscany | 164 |
| 88 | 241 | Tua Rita | Tuscany | 153 |
| 95 | 206 | Quintarelli Giuseppe | Veneto | 111 |
| 100 | 204 | Caymus | California | 104 |
| 63 | 157 | Bartolo Mascarello | Piedmont | 94 |
| 37 | 127 | L’Évangile | Bordeaux | 90 |
| 67 | 155 | Casanova di Neri | Tuscany | 88 |
| 6 | 91 | Ornellaia | Tuscany | 85 |
| 66 | 149 | Keller | Rheinhessen | 83 |
Top 10 biggest risers overall: 2019-2020
| 2020 | 2019 | Wine | Region | Change |
| 62 | 277 | Luciano Sandrone | Piedmont | 215 |
| 55 | 219 | Biondi-Santi | Tuscany | 164 |
| 88 | 241 | Tua Rita | Tuscany | 153 |
| 139 | 259 | Ceretto | Piedmont | 120 |
| 95 | 206 | Quintarelli Giuseppe | Veneto | 111 |
| 100 | 204 | Caymus | California | 104 |
| 105 | 205 | William Fèvre | Burgundy | 100 |
| 126 | 223 | Philipponnat | Champagne | 97 |
| 153 | 249 | Le Macchiole | Tuscany | 96 |
| 125 | 220 | Montevertine | Tuscany | 95 |
Top 10 fallers in the top 100: 2019-2020
| 2020 | 2019 | Wine | Region | Change |
| 85 | 13 | Salon | Champagne | -72 |
| 89 | 31 | Bruno Giacosa | Piedmont | -58 |
| 91 | 36 | Ponsot | Burgundy | -55 |
| 77 | 23 | Pichon Baron | Bordeaux | -54 |
| 75 | 31 | Figeac | Bordeaux | -44 |
| 46 | 8 | Comte Georges de Vogüé | Burgundy | -38 |
| 97 | 61 | Les Carmes Haut-Brion | Bordeaux | -36 |
| 54 | 20 | E. Guigal | Rhone | -34 |
| 69 | 35 | Petrus | Bordeaux | -34 |
| 98 | 66 | Beychevelle | Bordeaux | -32 |
Wines traded on Liv-ex from 2015 to 2020
| Year | # Wines traded | # Brands traded | # Brands that qualified |
| 2015 | 3,000+ | 271 | 166 |
| 2016 | 4,000+ | 670 | 199 |
| 2017 | 4,000+ | 750 | 220 |
| 2018 | 5,700 | 953 | 248 |
| 2019 | 6,367 | 996 | 289 |
| 2020 | 8,734 | 1,420 | 325 |
| 1-year change | 37.2% | 42.6% | 12.5% |
Top 10 trade price ranking
| Ave. trade rank | Brand | Region | Ave. LX trade price |
| 1 | Henri Jayer | Burgundy | £97,308 |
| 2 | Romanée-Conti | Burgundy | £39,934 |
| 3 | Le Pin | Bordeaux | £26,410 |
| 4 | Petrus | Bordeaux | £26,127 |
| 5 | D’Auvenay | Burgundy | £25,289 |
| 6 | Screaming Eagle | California | £21,665 |
| 7 | Du Comte Liger Belair | Burgundy | £11,132 |
| 8 | Georges Roumier | Burgundy | £9,741 |
| 9 | Armand Rousseau | Burgundy | £9,548 |
| 10 | Harlan Estate | California | £6,974 |
Top 10 trade price performance ranking
| Price perf. rank | Brand | Region | Ave. market price change |
| 1 | Ca’ Nova | Piedmont | 28.09% |
| 2 | Dal Forno Romano | Veneto | 19.47% |
| 3 | Henri Giraud | Champagne | 18.29% |
| 4 | G.B. Burlotto | Piedmont | 15.81% |
| 5 | William Fèvre | Burgundy | 15.07% |
| 6 | Solaia (Antinori) | Tuscany | 14.98% |
| 7 | Bonneau du Martray | Burgundy | 14.41% |
| 8 | Rene Engel | Burgundy | 13.12% |
| 9 | Conti Costanti | Tuscany | 12.98% |
| 10 | Arnoux-Lachaux | Burgundy | 12.82% |
Top 10 number of wines traded
| Rank | Brand | Region | Unique number of LWIN11s traded |
| 1 | Romanée-Conti | Burgundy | 87 |
| 2 | Leflaive | Burgundy | 81 |
| 3 | Faiveley | Burgundy | 81 |
| 4 | Joseph Drouhin | Burgundy | 71 |
| 5 | Gaja | Piedmont | 65 |
| 6 | Armand Rousseau | Burgundy | 65 |
| 7 | Lafite Rothschild | Bordeaux | 61 |
| 8 | M. Chapoutier | Rhone | 58 |
| 9 | Penfolds | South Australia | 57 |
| 10 | Mouton Rothschild | Bordeaux | 56 |
Wines back in the top 100 this year
| Brand | Reigon | 2020 | 2019 | Change |
| Luciano Sandrone | Piedmont | 62 | 277 | 215 |
| Tue Rita | Tuscany | 88 | 241 | 153 |
| Biondi-Santi | Tuscany | 55 | 219 | 164 |
| Quintarelli Giuseppe | Veneto | 95 | 206 | 111 |
| Caymus | California | 100 | 204 | 104 |
| Henschke | South Australia | 99 | 177 | 78 |
| Jean Grivot | Burgundy | 84 | 159 | 75 |
| Bartolo Mascarello | Piedmont | 63 | 157 | 94 |
| Casanova di Neri | Tuscany | 67 | 155 | 88 |
| Dominio de Pingus | Castilla y Leon | 86 | 150 | 64 |
| Keller | Rheinhessen | 66 | 149 | 83 |
| Paul Jaboulet Aine | Rhone | 93 | 136 | 43 |
| de Montille | Burgundy | 83 | 134 | 51 |
| L’Évangile | Bordeaux | 37 | 127 | 90 |
| Robert Groffier | Burgundy | 87 | 124 | 37 |
| Vietti | Piedmont | 76 | 120 | 44 |
| Taittinger | Champagne | 48 | 119 | 71 |
| Fontodi | Tuscany | 71 | 117 | 46 |
| Screaming Eagle | California | 49 | 114 | 65 |
| Poggio di Sotto | Tuscany | 74 | 110 | 36 |
| Giacomo Conterno | Piedmont | 51 | 102 | 51 |
Wines that fell out the top 100 this year
| Brand | 2020 | 2019 | Change |
| Meo Camuzet | 103 | 15 | -88 |
| Clos de Tart | 178 | 37 | -141 |
| Dujac | 101 | 39 | -62 |
| Roulot | 186 | 40 | -146 |
| Coche-Dury | 147 | 47 | -100 |
| Alain Hudelot-Noellat | 114 | 49 | -65 |
| René Engel | 174 | 56 | -118 |
| Du Comte Liger Belair | 300 | 68 | -232 |
| Clos Fourtet | 142 | 69 | -73 |
| Francois Raveneau | 108 | 73 | -35 |
| Sylvain Cathiart | 109 | 74 | -35 |
| Canon | 146 | 86 | -60 |
| Emmanuel Rouget | 249 | 87 | -162 |
| Trotanoy | 112 | 90 | -22 |
| De Chevalier | 104 | 93 | -11 |
| Fontaine-Gagnard | 166 | 93 | -73 |
| Perrier-Jouët | 196 | 95 | -101 |
| Soldera Casse Basse | 136 | 96 | -40 |
| Anne-Françcoise Gros | 157 | 96 | -61 |
| Haut-Bailly | 124 | 100 | -24 |
Feature findings
- This year’s Power 100 is one of the most diverse lists ever, with multiple new entries from Italy, as well as a few extras from Spain, Australia and the United States.
- Italy in particular this year has cemented its position as a real force in the secondary market, with record high places for several notable brands.
- The US too is a region on the rise, its share of trade rising to new heights in 2020 as it manages to spread its wines further beyond its shores.
- Burgundy, meanwhile, has seen its progress slow and suffered a loss of 10 brands dropping out of the top 100 this year as market liquidity grows and its top wines find their prices hitting a plateau.
- Bordeaux seems to be finding a level in the market and its top brands remain powerhouses.
About Liv-ex
Liv-ex is the global marketplace for the wine trade. Along with a comprehensive database of real-time transaction prices, Liv-ex offers the wine trade smarter ways to do business via access to £80m worth of wine and the ability to trade with 500 other wine businesses worldwide.
Liv-ex also organises payment and delivery through its storage, transportation and support services.
Wine firms can find out how to price, buy and sell wine smarter by visiting the Liv-ex website: www.liv-ex.com.
Liv-ex Power 100: Methodology
To calculate the scores, Liv-ex took a list of all wines that traded on Liv-ex in the last year (from 1 October 2019 to 30 September 2020) and grouped these by brand. As last year, Burgundy labels with both maisons and domaines were combined as one. It then identified brands that had traded at least three wines or vintages, and had a total trade value of at least £10,000. Brands were ranked using four criteria: year-on-year price performance (based on the market price for a case of wine on 1 October 2019 with its market price on 30 September 2020); trading performance on Liv-ex (by value and volume); number of wines and vintages traded; and average price of the wines in a brand. More than 8,700 different wines/vintages were traded on the exchange. These were grouped into 1,420 brands, of which 325 qualified for the final calculation. The individual rankings were combined with a weighting of 1 for each criteria, except trading performance, which had a weighting of 1.5 (because it combined two criteria).
