Market Update - Bordeaux 2017 draws to a conclusion
Bordeaux trade share increases to 71.3%
Liv-ex 50 reaches new six and half year high
Cheval Blanc 1998 this week’s most active wine
Bordeaux 2017 First Growth and Super Second releases
While some of the trade struggled to digest Bordeaux 2017 prices, others have been active in the secondary market filling orders from Vinexpo. Subsequently Bordeaux’s market share rose this week to 71.3%, while Latour staged a mini revival to be the most traded brand in the last seven days.
At the same time prices for the First Growths picked up for the third consecutive week. The Liv-ex Fine Wine 50closed Thursday at 358.33, an increase of 0.6% on last Thursday, placing the index at its highest level since the middle of November 2011.
After a handful of successes last week, this year’s campaign once again lost its bearings. Early reports are now suggesting that sales figures are languishing around 2013 levels, i.e. a 75% decrease from 2016.
Earlier in the week Montrose, Pontet Canet, and Leoville Las Cases came with fairly hefty premiums to fair value and are understood to have been received poorly.
Mouton Rothschild and Margaux followed suit, coming out at the same price as one another. Both their releases represented a decent premium to fair value, however, they might have had enough brand power to carry them through.
Haut Brion followed soon after at the same release price as Margaux and Mouton, but was soon being discounted in the market.
Lafite Rothschild, however, bucked the trend and came out at a significant discount to its fair value. But, with the campaign drawing to a close, yesterday’s DBR release might just be a thin silver lining in a very lacklustre campaign.
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