Talking Trade – VI-1 forms scrapped

  • A major hindrance to trade and business was done away with this week. 
  • Bordeaux’s trade share has drifted post En Primeur but July has been its best month since March 2020. 
  • 1990s-era DRC were among the top-traded labels by value this week. 

The wine trade opened their inboxes on Monday morning to the welcomed and hard-fought-for news that the UK government will be scrapping wine import certificates completely. 

Liv-ex founder and WSTA board member, James Miles, penned a few words explaining why the removal of VI-1 forms will be even more important for the trade than was initially suggested. His write-up can be read in full here.  

Liv-ex also took a macro look into the fine wine industry in Asia. The insight ranked the top traded wines in Asia, which were predominantly from Bordeaux, although, our second piece of analysis found that Bordeaux trade share in the region was falling. Burgundy, Italy, Champagne and USA wines have all garnered greater demand, in line with the broadening trend of the overall market. 

The first post in a two-part series on Mouton Rothschild was also published. It contained insights on the most expensive vintages, best price performers, and the top three most traded vintages on the secondary market. 

Regional trade Bordeaux trade share by value saw a slight drift in the last week of the month. Nonetheless the region is set to close July with its best four-week period since March 2020. 

 

Burgundy trade share is set to close July at around 22%. After being set adrift in the last few months, trade share for the region is edging towards the record levels set in March earlier this year.  Champagne, Italy, the Rhône and USA all made small gains. The Rest of the World (Others) held steady for the week. 

Top traded labels

Domaine de la Romanée-Conti, Romanée-Conti 1998 was the top traded wine of the week. The wine first traded on Liv-ex in 2006 for £19,200 per 12×75. This works out to a rise in value of 952% over the past 15 years.  

Domaine de la Romanée-Conti Grands Echezeaux 1995 also made it into the top five. The wine has seen similar gains. In 2007 it traded for £3,300 per 12×75. This represents a rise of 675% over the past 14 years.