Trades on Cavex have been varied the last few days with the recent trading in First Growths taking a back seat while Second wines made up the majority of activity on the exchange. Continuing from last week, bidders have been the more active party with overall positions growing by 6% in six days alone. It’s clear that buyers are returning to the market place, but pricing is mixed with strong bids to current market for Carruades de Lafite, Petit Mouton and Pavillon Rouge whilst Forts de Latour is struggling to find interest close to market. Most startling trade this week went to Forts de Latour 2010 trading at £1,275 down 21.8% since September last year.

The bid to offer ratio has continued to climb and reaches 0.94:1 for the first time since May when buyers reconsidered their exposure on the exchange, strongly adjusting and removing positions. Has confidence returned or has demand for certain wines that appear to be in short and ready supply started to edge prices up for second wines? Petit Mouton picked up strong interest through the week and traded slightly up 1.9% for the 2009 at £555 per 6 since mid July and the 2010 up 1.9% in the same period at £530 per 6. These levels are very similar to prices this time last year.

Other notable trading activity has been very mixed indeed. Pontet Canet 2008 slid 12.7% since the end of June trading at £480 per dozen, whilst the 2010 had a larger fall of 14.8% since April at £1,150. Duhart Milon appears to be back in demand with the 2009 picking up strong activity trading up 2% over a two week period at £510 per 12.

Chateau Lafite Rothschild and Mouton Rothschild albeit slight subdued in trading over the past week have continued to trade with highlights such as Lafite 2006 trading up slightly by 0.7% at £4,460 and Mouton 2004 up 1.9% in just 24 hours to £2,650. Demand is clear for certain vintages and prices are climbing ever ever so slightly for the right stock.

Buyers this week are on the look out for well priced parcels of Beychevelle, Carruades de Lafite, Ducru Beaucaillou, Lynch Bages, Mouton Rothschild and both Pichon’s. There are also strong requests for drinking red Burgundy wines at all levels. If you have stocks of these wines, we have willing bidders ready to place good bids so please do get in touch at trading@cavex.co.uk

Hot Offers up for grabs on the exchange come in the form of some very well priced Guigal La La’s waiting to be snapped up by the keen eyed collector. La Turque 2005 at £300 per dozen under UK market looks like a steal. For the lover of Chateau Latour picking up the 2006 at £450 under its last traded price at £3,150 per 12 should also prove interesting. For the true bargain hunter, a large parcel of a 92 pointer from Robert Parker in the form of Hillside Shiraz 2003 from Kay Brothers Amery at £60 per 6 is fantastic value and drinking very well right now. There are 2,234 cases up for sale on Cavex currently so it’s worth taking a look through the full stock list via the links below.  There there are some great wines hiding away waiting for that right bid.

Enjoy your weekend

Steve, Daniel, Simon & Jean