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May 30, 2022 View:

Bordeaux reds to drive boutique wine market in 2019

The Liv-ex Fine Wine 100 Index rose by 1.5% in July, driven by strong trading in the secondary market for Bordeaux wines in 2019 and expanded trading activity that saw Bordeaux wines reach new highs.

Image from: Internet

The benchmark index has performed quite poorly for most of the year, but since the recent en primeur event, it has shown some signs of growth, being above 300 points for the first time in five months.

With good wines being released at what are generally considered good prices, secondary market activity for Bordeaux wines in 2019 was quite brisk at some point, with the vintage trading up 400% over the same period last year.

Despite this, the overall share of Bordeaux wines traded on the platform continues to decline, from 55.3% at the beginning of the year to 40.7% today.

This is due to the continued expansion of the secondary market. liv-ex said on its blog that the number of bottles of LWIN7 varietal wines traded in July exceeded the 1,000 bottle mark for the first time, while the number of LWIN11 (estate and vintage code) wines rose to a new record level.

Italy remains the biggest beneficiary of this expansion, with its share of trade rising this year from 8.8% in 2019 to 14.7% now.

Liv-ex noted that demand from the US and Asia was initially strong, but softened again due to another upcoming US tariff decision in mid-August and renewed tensions around mainland China and Hong Kong.