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CNDP gains ground in secondary market
The Rhône is rising in the secondary market and southern appellation Châteauneuf du Pape was leading the way in August.
As explained in Liv-ex’s September Market Report, the five top movers in the secondary market from the valley last month were from Châteauneuf-du-Pape.
The region overall is having a good year. Liv-ex notes that its share of trade by value is up 25% year-to-date from its 2019 average.
Four of the five Châteauneufs that topped the charts in August are under £500 a case and yet carry critic scores of 90 or higher.
With some top northern valley appellations such as Hermitage and Condrieu already sitting quite pretty in terms of pricing, collectors have clearly sensed some value in the large but still prestigious southern cru.
As Liv-ex noted: “The region is coming into the spotlight in 2020 for its value and continued quality.”
Last month, two of the top-performing wines of 2020 so far were revealed as being from Châteauneuf; namely Beaucastel’s 2016 and Vieux Télégraphe’s 2015 ‘La Crau’.
That’s over the course of the year, however. In terms of August alone the top performer was Clos des Papes’ 2012 which saw its case price rise 9.4% to a lofty £488.
Its more recent 2016 vintage was also on the list and the most expensive after a 6.3% shuffle up to £840 per dozen.
Vieux Télégraphe’s aforementioned 2015 continued climbing, up 7.3% in August, while the 2013 vintage rose 5.9%.
Beaucastel’s 2017 vintage was also on the move meanwhile, up 3.2%.