Rising demand for Bordeaux and Champagne ahead of Christmas
Bordeaux and Champagne increased their share of trade in the week to 15 December, according to fine wine marketplace Liv-ex.
Champagne saw a 2.5% uptick in trade last week, accounting for 17.4% of the total. One of the top traded wines last week was Dom Pérignon 2012, which led demand for the region. This is no surprise, as the wine has featured heavily on the market this year, becoming one of the top traded wines by both value and volume in 2022, Liv-ex has said.
Bordeaux, which holds the largest share of trade, also saw a small increase from 34.7% to 36.3%. The region’s trade share continues to rise in December and is currently almost 6% above its November average.
Burgundy’s share of the trade was down last week, despite the region holding the second largest share overall, ahead of Champagne. Burgundy also took the top spot in the 2022 Liv-ex Power 100, showing that the fine wine market in 2022 has been all about the region.
And for fine wine investment firm Cult Wines, Burgundy has driven sales this year. As of the end of November, the Cult Wines Global Index had risen 19.40% on the back of surging Burgundy and Champagne prices.
Burgundy wines jumped in price the most in 2022, according to Cult Wines Regional Indices, returning 30.3% YTD. And Champagne’s star rose higher in 2022 by posting an 18.6% regional gain, Cult Wines Global Index has shown.
The fine wine investment firm predicts that sharp supply-demand imbalances for top-end vintage Champagnes should keep prices trending higher despite the difficult economy.
Despite this growth, The fine wine market is facing “severe headwinds” in 2023, according to an annual report from Liv-ex and, after seven years of uninterrupted gains, some regions may well face a downturn in the months to come.