According to the April Liv-ex Market Report, increased trading of the 2015 vintage drove Bordeaux, with its prestige chateaux selling well in the market, and Burgundy slowed, with the Liv-ex index falling all of March, but the Burgundy 150 bucking the market.
Image from: Wine a search
Market Sensitivity
Wine insiders, media and critics are now mostly tasting the 2017 vintage in Bordeaux together, and early reviews of the vintage are very different in style. The Bordeaux market is currently going through a sensitive period, and following the March drop in all Liv-ex Bordeaux indices, the ill-priced en primeur movement will likely deal a further blow to the market.
2015 vintage drives Bordeaux
Bordeaux"s market share rose from 61.2% to 63.8%; this small increase was due to the recent increase in trade of the 2015 vintage in bottle. Burgundy, on the other hand, saw its market share drop slightly to 13.9% due to a slowdown in high-value white wine transactions. Conversely, Italy was boosted by a large volume of Brunello Montalcino 2013, which increased the region's share to 8.1%.
Bordeaux Chateau Hot Sale
The two most popular Bordeaux wines this month were Lafite Rothschild 2009 and Margaux 1996. Given the current super high price of Margaux 2015, its 1996 vintage looks relatively affordable. Neal Martin gave this wine 100 out of 100 points in October 2016 and it sold for a final price of £6,005; 52.3% cheaper than the 99-point 2015 vintage.
No spring in the Liv-ex index
The turnaround from winter to spring has not yet been seen in the Liv-ex index; all fell in March. Weak demand for first growths led to the largest drop in the Fine Wine 50, down 0.6%. The Liv-ex 100 fell for the fourth consecutive month, down 0.5%. The Liv-ex 1000, the broadest measure of the market, was down just 0.1%; the volatile Burgundy 150 bucked the trend by rising 1.6%.
