Bordeaux Holds Steady at 50% of Liv-ex March Trade

Vines at Chateau Lafite-Rothschild. Photo: Guy Collins

Bordeaux wine accounted for 50.3 percent of trade on the London-based Liv-ex online wine market in March, stable on its average for the year, while Burgundy’s share fell to 12.3 percent from 20.3 percent, according to the Cellar Watch monthly report.

The 2010 vintage represented almost a quarter of all Bordeaux trade, according to the report. France overall lost market share, with Italy accounting for 15.4 percent and the U.S. 5 percent.

“Prices for fine wine were relatively stable when viewed against mainstream financial assets,” the Cellar Watch report said, with the Liv-ex 100 Fine Wine 100 Index falling 1.1 percent during the month. That index represents 100 of the most sought-after wines on the secondary market and has become a benchmark for the trade.

The broadest measure of wine market performance, the Liv-ex 1000, fell 1.35 percent during the month, while the Bordeaux Legends 40 Index fell 2 percent, the biggest decliner among its sub-indices, the Cellar Watch report said. Full details of the report are available on its website http://www.cellar-watch.com.

In the first three months of the year the Liv-ex Fine Wine 50, which tracks the 10 most recent physically available vintages of the Bordeaux first growths, fell 4.1 percent and the Liv-ex 100 was down 1.1 percent, while the Liv-ex Bordeaux 500 and Liv-ex Fine Wine 1000 both declined 2.7 percent.

As of the end of March, the Burgundy 150 had seen a 4 percent drop this year, it said.

The Liv-ex 1000 has been declining since last October, when 25 percent U.S. tariffs were applied to most European wines. Since then the disruption to world trade, markets and economies from the Coronavirus pandemic has further hit wine prices.

The Liv-ex 1000 is a broader index tracking wines from Bordeaux, Burgundy, Champagne, the Rhone, Italy and the rest of the world. Full details of its composition can be found on http://www.liv-ex.com.

Published by GuyCollinsWine.com

I am a journalist writing about the Bordeaux wine market.

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