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Bordeaux wines are increasingly less in demand according to the trading platform Liv-ex. Since 2013, their market share has fallen from around 60 percent to just under 40 percent. In addition to declining demand from China, the "ineffective pricing policy" when introducing new vintages is one of the main reasons for this development. The inconsistent pricing strategies of the Châteaux have disrupted the balance between supply and demand. Thus, the ratio of bids to offers for the Liv-ex Bordeaux 500 Index in 2024 was at historic lows.
The warehouses of the wineries and négociants are full, causing high costs. Almost all major Châteaux responded to the crisis with significant price reductions. Many Bordeaux wines are therefore traded cheaper than the original release prices (Ex-Château) – the most since 2015. This particularly affects vintages after 2015. Older vintages, especially those older than 2009, continue to benefit from their limited quantity with stable demand.
In contrast, Italy shows resilience – especially Tuscany. Although the Liv-ex Italy 100 Index has fallen by six percent year-on-year, Italy has weathered market fluctuations better than any other sub-index of the Liv-ex 1000. Demand for Italian wines was particularly strong in the USA - with a trading value increase of 69.3 percent compared to the previous year.
The trading value of Tuscan wines rose by 16.1 percent, while the value of Piedmontese wines fell by 5.2 percent. In Tuscany, it was not only the Super Tuscans like Masseto and Sassicaia that were in high demand. Leading Brunello wines, including those from Soldera Case Basse, also recorded higher trading values.
(ru / Drinks Business, Liv-ex)