Talking Trade – Harlan Estate 2016 leads trade by value

Regional share of trade by value (15th May - 21st May)

The 2019 En Primeur campaign began this week with Angludet releasing at £276 per 12×75, a 11.5% decrease on its 2018 release price. Interest in Bordeaux is set to pick up steam next week with the delayed release of Latour 2012 and Forts Latour 2014. In the ensuing week, the UGC will officially present the vintage to Bordeaux wine merchants, with releases expected to follow soon after (one or two are expected next week). Some (but not all) critics are tasting the wines at their desks – reports to appear variously throughout June. Few are likely to be tabled before the releases begin.

With interest in the region beginning to build, Bordeaux (48.2%) regained some of its lost share of trade by value. The region was helped by large value trades of the 2016 vintage; however, it was 2014 that saw the most volume.

Burgundy (9.5%) and Champagne (10.9%) drifted a touch but stayed close to their April share. Italy saw the largest decline, down to 13.3% from 20% the week prior. The USA (10.8%) gained share with multiple California cult favourites changing hands, predominantly from the 2016 and 2015 vintages.

The Liv-ex Fine Wine 50 continued its turnaround in May. The index is now on track for its best single month since August 2017. It is currently up 1.32% in the month. Weak Sterling a contributor perhaps.

Top 5: share of trade by value (15th May - 21st May)

Harlan Estate 2016 led trade by value for the week, and concurrently leads USA trade for the year. The wine was scored 100 points by both Lisa Perrotti-Brown MW and James Suckling. Perrotti-Brown stated, “this brazen beauty is set to live for a good 60-years and possibly more.” Suckling further asked if this might be “the most refined, harmonious, and focused Harlan ever?”

Mouton Rothschild 2016 also scored 100 points from the pair, but currently trades at half the price. In the past three months, the wine has risen 3.3% and now trades at £4850 per 12×75, a 6.5% decrease from its release price.

Spotlight on Giacomo Conterno

Trade of Italian wines on Liv-ex have been growing rapidly since the start of the year. A large part of this has been in Barolo and a significant contributor, Giacomo Conterno. Our latest Spotlight on takes a look at the history of the estate and it’s current performance in the secondary market.

Germany in the secondary market

Historically a small region, Germany has seen its trade volume more than double in 2020. A slew of critical appraise and fitting prices for automated trade has seen the region step into the spotlight.