Cavex Month Two Trading Update
Two months have passed since the launch of the Cavex platform and quite a lot has happened since our first day of trading. It only seems like yesterday that we leapt into the unknown waiting for that very first trade to pass through. We have certainly moved on from the first case of 2009 Sauzet Bourgogne Blanc at £170, hitting the dizzy heights of a case of DRC’s Romanee Conti 2009, 3 x 75cl at £26,000 IB.
Merchant trade has stepped up over the past few weeks after a lack lustre 2012 Bordeaux campaign. Parcels of older wines are moving for stellar Bordeaux vintages such as 2000, 2005 and 2009. Trading in the 2003 vintage, due for a re score by Robert Parker in August, has also started to pick up.
Over the past month we have been extremely busy building our relationships with new members around the world and are currently being viewed in 63 countries. We are particularly seeing rapid growth in the Asian market with new members signing up every day. This has been reflected in the growing number of live bids for second wines such as Carruades de Lafite, Pavillon Rouge, and Petit Mouton . It is also pleasing to see that Carruades de Lafite has traded from UK private members to the Asian trade at £1650 IB for the 2009 vintage, as well as Petit Mouton 2009 at £500 IB per 6 x 75cl. Bids for 25 and 50 cases parcels also show the intention of our buying members.
Some statistics from month two are as follows:
- Total value of member portfolios under system management – £13 .5 million
- Total value of live offers – £835,000 with 976 cases for sale
- Total value of live bids – £385,000 with 365 cases looking to be purchased
- 72 live spreads currently in the market place
- Tightest spread at 2.7%
- Average price of a case sold – £1900 IB (12 x 75cl)
- Highest value case sold – 2009 Romanee Conti, DRC 3 x 75cl at £26,000 IB
- Lowest value case sold – 2009 Bourgogne Pressoniers Rouge , Joseph Roty 12 x 75cl at £125 IB
- Average settlement with cash paid to the seller – 17 days
- Fastest settlement with cash paid to the seller – 7 days
- Product mix by region – BDX 68% – BRG 11% – RHO 3% – ITA 5% – USA 8% – AUS 5%
- Buying Breakdown – Private Members 62% – Trade Members 24%
- Selling Breakdown – Private Members 65% – Trade Members 35%
- Members from 27 countries
- Member activity – 88% UK – 8% HK – 2% EU – 2% Other
- Offer prices now advertised on Wine-searcher. Ideal for our members to advertise their wines to a global audience
Highlighted Trades from the last 30 days
| Wine | Producer | Vintage | Format | Price | Contract | Qty |
| Bourgogne Pressoniers Rouge | Joseph Roty | 2009 | 12 x 75 | £125.00 | A | 1 |
| Bourgogne Pressoniers Rouge | Joseph Roty | 2010 | 12 x 75 | £125.00 | A | 1 |
| Carruades de Lafite | 2009 | 12 x 75 | £1,650.00 | A | 5 | |
| Clinet | 2009 | 6 x 75 | £1,075.00 | A | 1 | |
| Dominus | Christian Moueix | 2003 | 6 x 75 | £375.00 | A | 2 |
| Duhart Milon | 2009 | 12 x 75 | £685.00 | A | 1 | |
| Echezeaux | Domaine Romanee-Conti | 2009 | 6 x 75 | £3,300.00 | A | 2 |
| Ermitage Ermite | Chapoutier | 2009 | 6 x 75 | £950.00 | A | 2 |
| Estate Shiraz | Oliver’s Taranga | 2004 | 12 x 75 | £100.00 | A | 1 |
| Haut Brion | 1996 | 12 x 75 | £2,750.00 | C | 1 | |
| Latour | 1996 | 12 x 75 | £5,960.00 | C | 1 | |
| Le Petit Mouton | 2009 | 6 x 75 | £500.00 | A | 6 | |
| Leoville Las Cases | 2000 | 12 x 75 | £2,050.00 | A | 1 | |
| Leoville Las Cases | 2005 | 12 x 75 | £1,825.00 | A | 1 | |
| Lynch Bages | 1996 | 12 x 75 | £1,110.00 | C | 1 | |
| Lynch Bages | 2000 | 12 x 75 | £1,660.00 | A | 5 | |
| Lynch Bages | 2000 | 12 x 75 | £1,650.00 | A | 2 | |
| Malescot St Exupery | 2004 | 12 x 75 | £325.00 | A | 1 | |
| Montrachet | Etienne Sauzet | 2006 | 6 x 75 | £2,100.00 | A | 1 |
| Mount Edelstone Shiraz | Henschke | 2002 | 6 x 75 | £300.00 | A | 2 |
| Mouton Rothschild | 2001 | 12 x 75 | £2,760.00 | A | 5 | |
| Mouton Rothschild | 1996 | 12 x 75 | £3,250.00 | C | 1 | |
| Opus One | Mondavi | 1999 | 6 x 75 | £750.00 | C | 6 |
| Romanee Conti | Domaine Romanee-Conti | 2009 | 3 x 75 | £26,000.00 | A | 1 |
| Sassicaia | Tenuta San Guido | 2003 | 12 x 75 | £1,120.00 | A | 1 |
| We look forward to hearing from you as we start month three over the coming weeks
Best wishes Cavex |
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CaveX Cru is our newly launched service offering members of CaveX the opportunity to buy exclusive parcels of affordable fine wines for everyday drinking.
No need to worry about in-bond, duty-paid, VAT or delivery. We just find great wines from some of the world’s top producers that are drinking perfectly now – all delivered direct to your door.
The Portfolio Management Partnership
More than ever, keeping a handle on what’s in your portfolio, its provenance, and its value is crucial to maintaining the integrity of your investment wines in-bond. Easy if you have a handful of cases and time on your hands. Not so easy if your collection is significant or you aim to invest more.
This is the reason we are launching our Portfolio Management Partnership service. Working with a trusted partner with over 30 years of experience in the fine wine business, this service will help you manage your portfolio, guide you on future investments, allow you to trade in only topflight investment wines and most importantly offer you access to one of the most secure wine storage services available to date.
External Service Providers
The Davies Turner Fine Wine team offers consultancy in meeting your individual requirements, building long-term partnerships with their clients, suppliers and partners worldwide. Founded in 1870 and still remaining in private ownership, they have over 140 years experience in freight forwarding being the UK’s leading independent freight and logistics provider. They have become the largest […]
Connoisseur International is a specialist global provider of logistical solutions concerning wines and spirits based in London. They provide a variety of services including worldwide door to door export and import air freight, express courier, refrigerated ocean and road services. Collections are available on a daily basis utilising their own fleet of vehicles from all UK bonded […]