Trade rose this week, up by value and volume, as offices open, computers were dusted off and society switched back on.
Bordeaux’s (60.3%) share of trade was led by good parcels of the 2009 vintage, followed by 2010 and 2008. In the meantime, Burgundy 2018 tastings are underway, while the regions trade share is showing some verve, up from 14.0% to 16.6% on the week.
Italy (13.7%), USA (2.6%), and Rhone (1.8%) all doubled their previous weeks’ share, as Champagne’s festive cheer seem to come to an end.
Super Tuscans, Sassicaia 1985 and Solaia 2008, were both active this week. Both featured in the recently published 2019 Power 100, at 7th and 57th respectively.
Three Bordeaux’s – two First Growths – topped the list. While their trade (12×75) values greatly vary (despite near identical scores from Neal Martin) their price performances over the past five years are remarkably similar. Seen in the graph below, Lafite has marginally outperformed the two Pessacs.
In London, Burgundy week is in full swing. It offers a rare occasion to taste the latest vintage in bottle, as well meet the importers and producers. The 2018 vintage was a warm growing season and prices are expected to be even hotter. Will there still be inelastic demand?
Extensive coverage has begun. Neal Martin at Vinous, released his report on the vintage, “2018 Burgundy: Confounded Expectations.” Decanter also published a series of reports, helping consumers and all, navigate through the news. Likewise, Jancis Robinson released her En Primeur guide, making tasting notes available, as close to the tasting date as possible.
Liv-ex will soon be releasing its 2018 Burgundy report. It includes an overview of recent vintage performance and current market trends, looking beyond the current vintage to help you understand the past. To receive the report upon release, share your details below.