With the headwinds of 2019 continuing to blow into 2020, the Liv-ex 1000 closed the first month of the year at 346.07, down 0.59%. The Liv-ex 100 (the industry benchmark) and the Liv-ex 50 (tracks First Growths) also felt the pressure and fell by 0.22% and 0.69% respectively.
The two best performing sub-indices of 2019, the Italy 100 and the Champagne 50, were two of only three indices to rise during the month – up 0.77% and 0.16% respectively. Also moving in a positive direction for the first time since August 2019, was the Bordeaux Legends 50 (+0.08%), which is made up of a selection of 50 Bordeaux wines from exceptional older vintages.
The Burgundy 150 was the worst performing sub-index (-1.23%), followed by the Rhone 100 (-1.02%), and the Rest of the World 50 (-0.97%).
The recent decline in the Burgundy market was explored at length in our latest report, “Burgundy: After the peak”.
Annual changes to the Liv-ex indices
The Liv-ex 1000 index was updated in January. Along with annual vintage progression (removing ’06 or ’07 and adding ’16 or ’17), changes were made to some individual sub-indices driven in the most part by liquidity considerations.
In the Burgundy 150, Domaine William Fevre, Chablic Clos was replaced with Joseph Drouhin, Montrachet Marquis Laguiche while Lambrays, Clos Lambrays was replaced with Georges Roumier, Bonnes Mares
Tua Rita Redigaffi was removed from the Italy 100 and replaced with Antinori, Guado al Tasso.
Due to a combination of price performance and trading activity, Screaming Eagle qualified for inclusion in the Rest of the World 50 index, expanding it to the ROW 60, while the Bordeaux Legends was reduced by 10 wines with the exclusion of the 1982 and 1986 vintages.