How do Bordeaux 2018 and 2019 compare on the secondary market?
PREMIUM
CONTENT

  • 2018 is the most traded Bordeaux vintage by value year-to-date.  
  • More wines from the 2019 vintage have risen in value compared to the 2018s.  
  • On average, the 2019s remain available for 12.9% less than the 2018s. 

As examined last week, Bordeaux 2019 continues to offer value today, with many wines available around their release price.  

The 2019s were released at a 21% discount to the 2018s, but they largely received better scores than their predecessors. 

The 2019 En Primeur campaign also saw higher sales by volume than the 2018 vintage. Yet the 2018s have seen more secondary market activity since release. How do the vintages compare in terms of pricing and market demand today?  

Bordeaux 2018 leads trading activity

2018 has been the most active Bordeaux vintage so far this year, taking 11.6% of the region’s total trade by value.  

The wines have been in the market for longer, command higher prices and the 2018 vintage has recently enjoyed fresh critical appraisal. Some Bordeaux 2018 wines claimed prime positions in this year’s Wine Spectator and James Suckling top 100 rankings.  

For example, Château Pichon Longueville Comtesse de Lalande 2018 placed second in Wine Spectator’s top 100. Since then it has been subject to rising demand and last traded 9.4% above its current Market Price. 

Château Pichon Longueville Lalande 2018 trades on Liv-ex

Rising price of 2019 labels

In comparison to the 2018s, the 2019 vintage as a whole has accounted for just 0.5% of the region’s trade by value on Liv-ex. However, critics are scheduled to publish their in-bottle assessments of Bordeaux 2019 soon, which will likely increase interest in the vintage. 

Across both vintages, the most traded wines by value have been the First Growths, Château Lafite Rothschild and Château Mouton Rothschild 

Other wines in demand from the 2018 include Château MargauxChâteau Haut-BrionCarruades de Lafite and Château Palmer. 

From the 2019 vintage, Château AngelusChâteau Pavie and Château La Mission Haut-Brion have been the most traded.  

Bordeaux 2019 leads price performance

Just 13 wines from the 2018 vintage have risen over 10% in value since release, compared with 24 from the 2019 vintage; the 2019s remain, on average, 12.9% cheaper than the 2018s 

The 2019 First Growths have made bigger gains than the 2018s so far this year and carry marginally better scores from Neal Martin (Vinous), who ranked Haut-Brion, Lafite and Margaux a point higher than the 2018s. Only Mouton Rothschild scored the same in both vintages.  

Year-to-date, all of the 2019 First Growths have outperformed the Fine Wine 50 index, though this is not the case with the 2018s where Margaux and Haut-Brion lag behind.  

Price performance of Bordeaux 2018 First Growths

*made using the Liv-ex Charting Tool.

Price performance of Bordeaux 2019 First Growths  

*made using the Liv-ex Charting Tool.

There are currently 500+ LIVE opportunities across Bordeaux 2018 and 2019.  

Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 530+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.