Continued strength in First Growth Bordeaux trading on Cavex

Trades over the past week have continued to centre around the strengthening demand for Bordeaux First Growths with 66% focusing on the top five Chateaux alone. A clear trend emerging is that buyers are picking up stock from vintages 2002, 2003, 2004, 2006 and 2008 where prices have fallen close to levels seen back in 2010. Whilst more stellar vintages such as 2005 continue to trade, activity shows that these are not proving as popular. However this is a debate between collectors holding on to these stellar vintages and buyers looking for vintages where prices have significantly fallen over the last two to three years.

Notable trades through the week saw Mouton Rothschild continue to lead the pack with multi vintage trades for 2003 at £2,980 (-1.8% 06/14), 2004 at £2,600 (-0.8% 07/14) with the 2002 raising 1.5% since May trading at £2,740. The 2006 did buck a trend of Mouton holding prices better than its peers with a fall of 8.4% since May trading at £2,950 per dozen. Two other big fallers came from Lafite Rothschild 2004 trading at £4,450 per 12 down 11.5% since March and Latour 2008 dropping a surprising 13.5% since March to £3,200. Outside of the First Growths Yquem 2001 traded at £3,600 per 12 and the biggest climb of the week went to Conseillante 2009 up 7.7% since March this year trading at £1,400.

Whilst there has been some reduction in overall positions this week, with total value dipping just below £4 million, Cavex has seen a significant volume of trading activity and £200,000 worth of new positions placed. Bidders are equally returning with the bid to offer ratio climbing to 0.87:1, the biggest increase since May.

Hot Bids for the week centre around strong bids for Beychevelle across multi vintages as well as Pavillon Rouge and other second wines. With stock appearing to be less readily available in the UK of these wines, buyers are trying to find those able and willing to supply stock. Off vintage First Growths by no surprise feature and strong bids are continuing to appear for the trio of Leovilles’.

Sellers this week are offering some very keenly priced wines. First Growths continue to be offered with big names such as Lafite 2000 at £11,195 down from its last traded price of £11,300 in late June. Mouton 1998 at £1,505 per six is looking like a very good deal for immaculate looking stock. Do take a further look through the Hot Offers below and the attached latest offerings as there are many wines looking to be traded at great prices and awaiting that bid.

 

Hot Offers
Wine Vintage Format Qty Offer Last Traded Date
Angelus 2009 12 x 75 2 £2,370 £2,500 26/02/14
Ausone 2008 12 x 75 2 £3,750 £3,750 04/07/14
Carruades de Lafite 2010 6 x 75 2 £695 £695 30/06/14
Grand Puy Lacoste 2010 12 x 75 9 £520 £520 23/05/14
Guigal Cote Rotie Mouline 2009 12 x 75 1 £3,520 £3,640 09/05/14
Guigal Cote Rotie Turque 2005 12 x 75 1 £3,800 - -
Haut Brion 2002 12 x 75 1 £2,270 £2,320 24/12/13
Haut Brion 2003 6 x 75 2 £1,200 £1,210 30/04/14
Haut Brion 2008 12 x 75 2 £2,500 £2,450 10/06/14
L’Eglise Clinet 2009 6 x 75 2 £1,515 £1,515 02/07/14
L’Evangile 2005 12 x 75 1 £1,600 - -
La Fleur Petrus 2010 6 x 75 2 £750 £760 20/02/14
Lafite Rothschild 2000 12 x 75 1 £11,195 £11,300 30/06/14
Lafite Rothschild 2002 6 x 150 2 £4,700 £4,800 04/07/14
Lafite Rothschild 2005 12 x 75 1 £5,750 £5,725 04/07/14
Latour 2002 6 x 75 2 £1,650 £1,650 17/06/14
Latour 2005 12 x 75 1 £5,750 £6,200 12/06/14
Latour 2008 12 x 75 1 £3,395 £3,200 16/07/14
Le Pin 2005 3 x 150 9 £9,500 £9,500 10/06/14
Leoville Barton 2005 12 x 75 1 £640 £650 02/05/14
Leoville Barton 2009 12 x 75 4 £575 £640 12/04/14
Les Forts de Latour 2008 12 x 75 10 £1,195 £1,195 09/06/14
Les Forts de Latour 2010 12 x 75 4 £1,440 £1,630 23/09/13
Margaux 2003 12 x 75 1 £3,650 £3,600 12/02/14
Montrose 2006 12 x 75 1 £530 £530 08/07/14
Mouton Rothschild 1998 6 x 75 2 £1,505 £1,500 26/06/14
Mouton Rothschild 2005 12 x 75 1 £3,400 £3,400 11/07/14
Phelan Segur 2009 12 x 75 1 £260 £265 31/03/14
Pichon Baron 2009 12 x 75 2 £995 £1,050 19/05/14
Pontet Canet 2009 12 x 75 1 £1,390 £1,400 07/07/14
Tardieu Laurent Chateauneuf du Papes VV 2009 12 x 75 5 £230 £230 31/03/14
Tenuta dell’Ornellaia Ornellaia 2008 6 x 75 1 £660 £660 28/11/14

Hot Bids
Wine Vintage Format Qty Bid Last Traded Date
Beychevelle 2005 12 x 75 10 £660 £660 10/06/14
Beychevelle 2006 12 x 75 10 £550 £520 11/02/14
Beychevelle 2007 12 x 75 20 £540 £540 04/07/14
Beychevelle 2008 12 x 75 17 £535 £530 04/07/14
Beychevelle 2009 12 x 75 5 £540 £550 11/12/13
Clinet 2010 12 x 75 1 £900 £900 27/06/14
Duhart Milon 2008 12 x 75 10 £460 £450 16/07/14
Guigal Cote Rotie Landonne 2005 12 x 75 1 £3,800 - -
Guigal Cote Rotie Landonne 2009 3 x 75 1 £910 £910 09/05/14
Haut Brion 2006 12 x 75 1 £2,180 £2,180 11/07/14
Haut Brion 2008 12 x 75 1 £2,250 £2,200 15/07/14
La Chapelle de la Mission 2007 12 x 75 1 £400 - -
La Fleur Petrus 2006 6 x 75 1 £600 £545 06/03/14
Latour 2002 12 x 75 1 £3,300 £3,300 17/06/14
Le Petit Mouton 2007 12 x 75 20 £1,035 £1,040 13/02/14
Le Petit Mouton 2008 12 x 75 19 £1,035 £1,035 25/06/14
Leoville Barton 2000 12 x 75 5 £820 £800 04/04/14
Leoville Las Cases 2000 12 x 75 5 £1,900 £1,900 07/05/14
Leoville Las Cases 2004 12 x 75 2 £880 - -
Leoville Las Cases 2008 12 x 75 2 £860 £850 22/04/14
Les Forts de Latour 2001 12 x 75 1 £1,400 - -
Margaux 2007 12 x 75 1 £2,600 £2,600 15/07/14
Montrose 2000 12 x 75 4 £1,015 £1,015 27/06/14
Mouton Rothschild 2001 12 x 75 1 £2,760 £2,760 28/03/14
Mouton Rothschild 2002 12 x 75 2 £2,740 £2,700 15/07/14
Mouton Rothschild 2003 12 x 75 1 £2,950 £2,980 15/07/14
Palmer 2000 12 x 75 1 £1,850 £1,700 09/10/13
Pavie 2003 12 x 75 1 £1,850 £1,800 02/05/14
Pavillon Rouge 2000 12 x 75 4 £1,340 £1,340 14/08/13
Pavillon Rouge 2003 12 x 75 4 £970 £960 29/11/13
Pavillon Rouge 2005 12 x 75 3 £970 £970 09/06/14
Pavillon Rouge 2008 12 x 75 10 £880 £890 23/03/14
Pavillon Rouge 2009 12 x 75 9 £900 £900 10/07/14
Smith Haut Lafitte Rouge 2010 6 x 75 1 £400 £400 12/06/14
Tenuta San Guido Sassicaia 2007 12 x 75 5 £1,240 £1,240 18/03/14

Enjoy the week ahead

Steve, Daniel, Simon & Jean.

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