January closed as a record month at Cavex with all indicators surpassing best previous figures. On the whole, trading data has been looking positive with strong climbs for the majority of wines traded in the past seven days. Though as mentioned last week, will this momentum continue through February or is the up-turn in trading value and volume merely responsive to Asian demand ahead of Chinese New Year?
Data shows that bid and offer positions have declined slightly this week with total bid value down 5.7%, although the number of bids have grown somewhat with £200,000 of new positions placed. Offer value declined by 5.2% as trades matched, whilst the number of active positions has also fallen by 1%. It appears that some sellers are currently hesitant and wish to wait and see which way the market will turn over the next couple of weeks.
This week’s movers showed no major surprises. Mouton Rothschild leads the pack with both Mouton and second wine Petit Mouton trading regularly. The 1998 Mouton traded at £1,575 per 6 x 75 up 5% since November and biggest climber of the week went to Petit Mouton 2006 up 17.3% since this time last year at £610 per 6. Mouton is currently on a rally as was evident over the weekend with strong results at Sotheby’s Hong Kong ex-cellar auction where sales of HK$32m doubled the pre-sale estimate.
Other notable results have seen strong trading in Bordeaux 2005’s with Cheval Blanc trading at £3,950 up 4.6% since mid-January. Troplong Mondot also saw a steep rise of 10.7% since October matching at £1,350 per dozen. Speculators are certainly looking at a considered undervalued vintage ahead of Robert Parker, potentially re-scoring the 2005’s in his 10 year re visit later this year.
Whilst Mouton has charged out in front in recent months as the leader of the Bordeaux First Growths, Lafite has continued to drift. The 2009 falling slightly by 0.5% to £5,950 and second wine Carruades 2008 also falling 0.7% to £1,520. However this week’s biggest fall went to DRC’s 2009 Richebourg which dropped 18.2% since this time last year trading at £5,500 per 6 x 75. DRC’s Duvault Blochet is still regularly finding strong buying demand, it’s the higher value DRC’s that are struggling to match solid bids.
This week’s hot stocks have seen a cracking selection of Italian and Rhone wines added for sale at very keen prices so be sure to check out the full listings on the links below. Some strong bids remain to be found for sellers who still wish to offload some last minute stocks in hope to catch the tail end HK buyers. But be quick, stocks need to fly this weekend if they are to make it.
|Ausone||2000||12 x 75||£7,500||A||1||£10,750||04/10/14|
|Barolo Monprivato Giuseppe Mascarello||2004||6 x 75||£600||A||2||–||–|
|Brunello di Montalcino Sugarille Angelo Gaja||2007||6 x 75||£430||A||5||–||–|
|Chateauneuf du Pape Cotes Capelan La Ferme du Mont||2009||6 x 75||£125||A||17||–||–|
|Chateauneuf du Pape Les Safres Clos du Caillou||2010||12 x 75||£265||A||3||–||–|
|Cornas Lieu Dit Patou Domaine Ferraton||2009||6 x 75||£120||A||6||–||–|
|Cotes du Rhone Reserve Clos du Caillou||2010||12 x 75||£190||A||1||–||–|
|Domaine de Chevalier||2005||12 x 75||£450||A||1||–||–|
|Ermitage Les Dionnieres Domaine Ferraton||2009||6 x 75||£230||A||5||–||–|
|Grand Puy Lacoste||2006||12 x 75||£340||A||10||£320||20/06/14|
|Grand Puy Lacoste||2009||12 x 75||£475||A||11||£480||13/06/14|
|Haut Bailly||2005||12 x 75||£725||A||2||–||–|
|Lafite Rothschild||1999||12 x 75||£4,800||C||1||£5,050||09/05/14|
|Lafite Rothschild||2007||12 x 75||£4,580||A||1||£4,500||08/01/14|
|Latour||2002||12 x 75||£3,150||A||1||£3,200||16/01/15|
|Le Pergole Torte Montevertine||2007||6 x 75||£480||A||5||–||–|
|Le Pin||2002||6 x 75||£5,500||A||1||–||–|
|Les Forts de Latour||2005||12 x 75||£1,435||A||10||£1,340||30/10/14|
|Lynch Bages||2003||12 x 75||£990||A||12||£970||07/01/14|
|Malescot St Exupery||2009||12 x 75||£570||A||1||£600||15/04/14|
|Mouton Rothschild||2003||12 x 75||£3,300||A||2||£3,100||03/11/14|
|Mouton Rothschild||2006||12 x 75||£3,200||A||1||£3,275||09/01/15|
|Pavie Macquin||2004||12 x 75||£490||A||8||–||–|
|Pontet Canet||2010||6 x 75||£640||A||2||£640||18/12/14|
|Beychevelle||2004||12 x 75||£570||A||10||–||–|
|Beychevelle||2006||12 x 75||£570||A||10||£575||11/12/14|
|Beychevelle||2008||12 x 75||£535||A||10||£550||08/01/15|
|Beychevelle||2009||12 x 75||£560||A||15||–||–|
|Carruades de Lafite||2007||12 x 75||£1,550||A||2||£1,550||22/09/14|
|Carruades de Lafite||2008||12 x 75||£1,520||A||6||£1,520||28/01/15|
|Chateauneuf Du Pape Clos Papes||2005||12 x 75||£600||A||1||–||–|
|Cheval Blanc||2005||12 x 75||£3,850||A||2||£3,950||27/01/14|
|Cos d’Estournel||2004||12 x 75||£645||A||5||–||–|
|Cos d’Estournel||2008||12 x 75||£580||A||1||£620||23/10/14|
|Cote Rotie Domaine Jamet||2001||12 x 75||£1,250||A||1||–||–|
|Ducru Beaucaillou||2009||6 x 75||£950||A||4||£955||22/01/15|
|Duhart Milon||2009||12 x 75||£565||A||10||£570||22/12/14|
|Grand Puy Lacoste||2006||12 x 75||£320||A||10||£320||20/06/14|
|Grand Puy Lacoste||2010||12 x 75||£460||A||2||£520||23/05/204|
|Lafite Rothschild||2007||12 x 75||£4,500||A||1||£4,500||08/01/15|
|Lafite Rothschild||2009||12 x 75||£5,825||A||2||–||–|
|Latour||2004||12 x 75||£3,160||A||2||£3,100||14/11/14|
|Latour||2006||12 x 75||£3,350||A||1||£3,320||30/01/14|
|Leoville Barton||2003||12 x 75||£655||A||2||£650||09/10/14|
|Leoville Las Cases||2008||12 x 75||£800||A||2||£900||19/12/14|
|Leoville Poyferre||2004||12 x 75||£400||A||2||£475||30/05/14|
|Leoville Poyferre||2010||12 x 75||£750||A||1||£760||14/01/14|
|Les Forts de Latour||2008||6 x 75||£550||A||6||£595||28/01/15|
|Lynch Bages||2003||12 x 75||£975||A||12||£970||07/01/15|
|Mouton Rothschild||2002||12 x 75||£2,800||A||4||£2,705||11/11/14|
|Mouton Rothschild||2003||12 x 75||£3,150||A||2||£3,100||03/11/14|
|Mouton Rothschild||2008||12 x 75||£2,900||A||2||£2,900||06/01/15|
|Ornellaia||2004||6 x 75||£750||A||1||£750||07/12/13|
|Sassicaia||2009||12 x 75||£955||A||13||£1,000||23/04/14|
Enjoy your week.
Daniel, Jean, Simon, Steph & Steve
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