Fine wine market stagnates?
With Bordeaux 2013 drawing to a close and rapidly becoming a vintage that most collectors and merchants have let sail by without much activity, the Fine Wine market appears to have entered into a dormant phase. Could it be a time to pause for reflection on where opportunities have been lost? Alternatively, is it a time where strong direction is needed to breathe life back into a very tough market?
Discussions in the press indicate that the Bordelais are damaging their brands by pricing high rather than attempting to protect them. Releasing at sensible prices would have encouraged buyers to return to the En Primeur market, instead they have clearly kept their money in their wallets. Asian markets are citing that the strong Sterling rate is hampering purchasing, whilst overstocking in Hong Kong is leading to a period of contraction. It all makes for a rather gloomy global picture leading to a much less active period over the coming weeks.
This has been clearly reflected on Cavex over the past week with a small amount of growth and total positions climbing a mere 0.5% overall to £4.2 million. Most notably as the offers grew by 1.2%, there was a clear correction in bidding prices as new stocks were loaded and offer positions reduced.
The bid to offer ratio has dropped slightly to 1.25:1 showing there are still willing buyers out there, but at a price. Asian buyers are reducing their prices to offset the higher FX rates they are currently encountering, which will not be helping sellers who have already been reducing prices over the past few months.
Bordeaux is still representing the majority of trades, but Burgundy has been making a more prominent stance over the past week. Highlights were a small parcel of Henri Gouges 2009 and 2010 trading early in the week with a great parcel of Taupenot Merme 2010 currently up for offer at significantly reduced prices. Hudelot Noellat also continues with strong activity with new offers placed.
Italian wines have also seen greater emergence this week with some very interesting offers for Sassicaia 2007 at £650 per 6 and Guiseppe Mascarello’s Barolo Monprivato 2007 at £485 per 6.
With prices softening further, there are still some great bids to be matched on the platform. Sellers looking to move wines can continue to find buyers. They will just be required to revise that price a fraction further this week.
| Hot Offers | ||||||
| Wine | Vintage | Format | Qty | Price | Last Traded | Date |
| Alain Hudelot Noellat Richebourg | 2007 | 6 x 75 | 5 | £1,550 | - | - |
| Bollinger Grand Annee | 2002 | 6 x 75 | 1 | £345 | - | - |
| Brovia Barolo Ca Mia | 2008 | 6 x 75 | 5 | £220 | - | - |
| Chateauneuf Du Pape Deus Ex Machina | 2010 | 3 x 75 | 1 | £1,200 | - | - |
| Cos d’Estournel | 2002 | 6 x 75 | 1 | £425 | - | - |
| D’Arenberg Coppermine Road Cabernet Sauvignon | 2001 | 6 x 75 | 11 | £85 | - | - |
| Du Tertre | 2004 | 12 x 75 | 2 | £225 | - | - |
| Giuseppe Mascarello, Barolo Monprivato | 2007 | 6 x 75 | 1 | £485 | - | - |
| Grand Veneur Chateauneuf de Pape | 2010 | 6 x 75 | 16 | £95 | - | - |
| Haut Brion | 2008 | 12 x 75 | 1 | £2,600 | £2,600 | 18/12/13 |
| La Chapelle de la Mission Haut Brion | 2007 | 12 x 75 | 3 | £425 | - | - |
| La Chapelle de la Mission Haut Brion | 2009 | 12 x 75 | 3 | £390 | £390 | 11/04/14 |
| La Fleur Petrus | 2009 | 6 x 75 | 1 | £825 | £825 | 01/04/14 |
| La Mission Haut Brion | 2004 | 12 x 75 | 15 | £1,050 | - | - |
| Lafite Rothschild | 1996 | 12 x 75 | 1 | £7,400 | £7,750 | 03/03/14 |
| Leoville Barton | 2003 | 12 x 75 | 1 | £690 | £690 | 10/03/14 |
| Leoville Poyferre | 2003 | 12 x 75 | 3 | £1,040 | £1,040 | 18/03/14 |
| Mouton Rothschild | 2008 | 12 x 75 | 1 | £1,500 | £1,500 | 16/04/14 |
| Penfolds St Henri Shiraz | 2008 | 6 x 75 | 8 | £225 | £230 | 18/09/14 |
| Phelan Segur | 2009 | 12 x 75 | 1 | £260 | £265 | 31/03/14 |
| Rene Rostaing Cote Rotie Classique Ampodium | 2011 | 6 x 75 | 5 | £140 | - | - |
| Rene Rostaing Cote Rotie Landonne | 2011 | 6 x 75 | 5 | £295 | - | - |
| Romanee-Conti Romanee St Vivant | 2004 | 3 x 75 | 1 | £1,700 | - | - |
| Screaming Eagle, Cabernet Sauvignon | 2009 | 3 x 75 | 1 | £3,800 | £3,600 | 11/04/14 |
| Hot Bids | ||||||
| Wine | Vintage | Format | Qty | Price | Last Traded | Date |
| Angelus | 2006 | 12 x 75 | 1 | £1,600 | £1,600 | 29/04/14 |
| Batailley | 2009 | 12 x 75 | 1 | £285 | £290 | 16/09/13 |
| Beychevelle | 2008 | 12 x 75 | 20 | £535 | £520 | 30/01/14 |
| Cheval Blanc | 1998 | 12 x 75 | 1 | £3,500 | £3,150 | 22/10/13 |
| Cheval Blanc | 2000 | 12 x 75 | 2 | £5,250 | £5,250 | 08/04/14 |
| Clerc Milon | 2009 | 12 x 75 | 5 | £405 | - | - |
| Clinet | 2009 | 12 x 75 | 2 | £2,100 | £2,100 | 10/03/14 |
| Cos d’Estournel | 2007 | 12 x 75 | 20 | £630 | - | - |
| Grand Puy Lacoste | 2006 | 12 x 75 | 20 | £320 | £300 | 02/01/14 |
| Guigal Cote Rotie Landonne | 2009 | 3 x 75 | 1 | £900 | £850 | 19/12/13 |
| Guigal Cote Rotie Mouline | 2009 | 3 x 75 | 1 | £900 | £900 | 12/12/13 |
| Guigal Cote Rotie Turque | 2009 | 3 x 75 | 1 | £900 | - | - |
| La Fleur Petrus | 2006 | 6 x 75 | 1 | £600 | £545 | 06/03/14 |
| Lafite Rothschild | 2004 | 12 x 75 | 1 | £5,035 | £5,030 | 28/03/14 |
| Lafite Rothschild | 2006 | 12 x 75 | 1 | £5,040 | £5,025 | 28/03/14 |
| Latour | 2003 | 6 x 75 | 1 | £3,200 | £3,200 | 20/03/14 |
| Leoville Las Cases | 2000 | 12 x 75 | 2 | £1,900 | £1,900 | 16/04/14 |
| Leoville Las Cases | 2007 | 6 x 75 | 10 | £450 | £450 | 07/04/14 |
| Lynch Bages | 2007 | 12 x 75 | 1 | £680 | £680 | 05/09/13 |
| Lynch Bages | 2010 | 6 x 75 | 1 | £450 | £425 | 18/04/14 |
| Malescot St Exupery | 2004 | 12 x 75 | 1 | £325 | £325 | 13/06/14 |
| Mouton Rothschild | 2001 | 12 x 75 | 1 | £2,780 | £2,760 | 28/03/14 |
| Mouton Rothschild | 2009 | 12 x 75 | 1 | £4,700 | £4,675 | 14/02/14 |
| Ornellaia | 2004 | 6 x 75 | 1 | £750 | £750 | 10/12/13 |
| Palmer | 1999 | 12 x 75 | 1 | £1,750 | £1,705 | 27/04/14 |
| Palmer | 2005 | 12 x 75 | 4 | £1,680 | £1,680 | 13/03/14 |
| Pavie | 2008 | 12 x 75 | 5 | £1,525 | £1,525 | 04/03/14 |
| Pavillon Rouge | 2000 | 12 x 75 | 4 | £1,370 | £1,340 | 14/08/13 |
| Pavillon Rouge | 2001 | 12 x 75 | 4 | £920 | £920 | 07/04/14 |
| Pavillon Rouge | 2003 | 12 x 75 | 4 | £970 | £960 | 29/11/13 |
| Pavillon Rouge | 2008 | 12 x 75 | 10 | £900 | £890 | 21/03/14 |
| Pavillon Rouge | 2009 | 12 x 75 | 3 | £900 | £900 | 31/03/14 |
| Petit Mouton | 2006 | 6 x 75 | 30 | £525 | £520 | 10/02/14 |
| Petit Mouton | 2009 | 6 x 75 | 17 | £535 | £535 | 27/03/14 |
| Pichon Baron | 2003 | 12 x 75 | 1 | £840 | £835 | 09/04/14 |
| Pontet Canet | 2008 | 12 x 75 | 2 | £560 | £560 | 25/04/14 |
| Pontet Canet | 2008 | 6 x 75 | 1 | £280 | £280 | 25/04/14 |
| Sassicaia | 2007 | 12 x 75 | 5 | £1,240 | £1,240 | 18/03/14 |
| Smith Haut Lafitte Rouge | 2010 | 6 x 75 | 1 | £400 | £385 | 24/09/13 |
| Trotanoy | 2009 | 6 x 75 | 1 | £1,080 | £1,080 | 06/03/14 |
Enjoy your weekend.
Steve, Daniel, Simon & Jean
New Office
14.07.2016
Continuing with Cavex’s exciting expansion plan in 2016, we would like to announce that we have just moved office. We are still located in our hometown of Henley on Thames. However, our new location affords us more scope for future development as we grow our company. 33 Hart Street, 1st Floor Office, Henley-On-Thames, Oxfordshire, RG9 [...]
New team member
13.06.2016
As part of Cavex’s current expansion plans we are delighted to announce that Will Buckland will be joining the team today, as head of sales. Will brings a wealth of sales experience from his time at Planet of the Grapes and, most recently, Vindemia.
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