Talking Trade – new releases from the secondary market’s most traded brand

Capping off the busiest week of En Primeur releases, Liv-ex’s most traded brand, Lafite Rothschild, launched its 2020 stable of wines. This included Duhart-Milon, L’Evangile, Carruades de Lafite, and Lafite Rothschild itself.

Duhart-Milon 2020 led the morning with a release up 9.6% from its 2019 opening price. L’Evangile 2020 saw the biggest increase of all, up 26.7% (the biggest increase so far this campaign). Carruades de Lafite 2020 was released up 12% and Lafite Rothschild 2020 was released with an international release price up 15% from 2019.

Major releases

  • Liv-ex covered the release of 15 wines from Bordeaux this week, along with one from Champagne, Dom Perignon 2012.
  • Release premiums this week were slightly higher compared to the first five weeks of the campaign in which we saw an average UK release up around 5.3%.
  • Alter Ego de Palmer 2020 released Monday up 12.2% on its 2019 opening price.
  • Grand Puy Lacoste 2020, Cantenac Brown 2020, Clerc Milon 2020 all released this week with premiums of 12.6%, 10.7%, and 7.3%, respectively to their 2019 opening price.
  • Fair Value is, however, to be found when considering all available physical vintages.

Full coverage of the 2020 En Primeur releases can be found here.

Weekly trade

Bordeaux’s trade share by value reached a 2021 high this week, led by trade of the 2017 and 2018 vintages.

Pauillac and Saint-Emilion Grand Cru were the most traded sub-regions within Bordeaux, but it was Sauternes that surprised the most, having its largest week of trade by volume year-to-date.

Burgundy’s trade share by value also rose from the previous week. France made up 81% of all trade by value, which is reminiscent to the early months of 2019, when the major broadening of the fine wine market was just beginning (think of the rise of Italy).

Champagne’s share declined, but what did trade often traded at a rising price. The Champagne 50 is up 13% over the past one year, with certain Champagne 50 sub-indices rising as much as 25% over the equivalent period.

This week turned out to be all about Lafite Rothschild, as its 2018, 2017, and 2013 vintages topped the most-traded chart and its new releases filled headlines this morning.

The top traded wine of the week, and the year so far, Lafite Rothschild 2018 was released in a special edition bottle, marking the 150th anniversary of the Rothschild family’s acquisition of Lafite. The wine has since risen 30% from its international release price, 25% of which came following the château’s announcement of the special bottles.

Today’s release of the 2020 places between the 2018 and the lower-scored vintages of 2017 and 2013. The 2020, at £5,880 per 12×75, its slightly more expensive than the identically scored 2019 vintage, but cheaper than the 2016, 2018, and any vintage older than 2010.

The 50th anniversary release of Tenuta San Guido’s Sassicaia, the 2018, has seen a small rise, having last traded 4% higher than its release price. With the wine only released in February, however, a 4% rise over four months works out at 12.5% over a year.

Liv-ex Market Report

The Liv-ex June Market Report has been published exclusively for members on our Silver tier package or higher and can be accessed here.

The full report contains Liv-ex research and analysis on:

  • Chart of the month: Special release bottlings
  • Major Market Movers: Bordeaux 2019
  • In the news: La Place de Bordeaux welcomes first Sicilian wine
  • Critical Corner: Bordeaux 2020 – Where the critics agree at the top
  • Final Thought: The campaign so far

Our Bordeaux En Primeur 2020 page contains everything you need to know about this year’s campaign. You can also sign up for our daily En Primeur email alerts using the form below.