There were a number of positive signs on Liv-ex in the last week. The Liv-ex Fine Wine 50 index rose 0.3% and is now at the same level that it was at the end of June. Bordeaux’s trade share was once again 76%, a good deal more than the 52% that it saw exactly a month ago. But perhaps the most interesting number of the week was the level of Bordeaux First Growth trade.
Since early September the First Growths have accounted for around 25% of all weekly trade by value. This week they took 35%, with activity predominantly for “off” vintages. Interestingly, while trade for four of the five wines was evenly split, Mouton Rothschild traded twice that value. Yet when we looked into the average price per case of all vintages traded this week, Mouton was by far the cheapest, averaging £2,895 per case. It would seem that the market is turning back to top Bordeaux, but people are finding value in the more affordable vintages.