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
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 […]