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Are Burgundy prices plateauing on the secondary market?
Prices of Burgundy are showing signs of flattening on the secondary market, the latest data from Liv-ex has suggested, as the Burgundy 2023 en primeur campaign gets underway.
In its latest report on Burgundy prices Liv-ex notes that in the Burgundy 150 Index, only 15 heavy hitters of the 150 have seen their prices increase over the past year, the majority coming from vintages before 2015, and all of them pre-2020 (although it should be noted that there are very few from the 2010 vintage coming onto the market).
“It is prices of more recent vintages that have seen the most robust downward trends,” it concluded.
The 2021 vintage, for example fell 21% year-on-year, with the 2020 down 17% year-on-year, or 31% in a two-year period, the second highest fall (after the 2010).
Meanwhile the 2022 vintage – which only began to trade in high volumes in the second half of 2024 – has become the top-traded vintage by volume accounting for 19.8% of the region’s trade. This contrasted with the low yielding 2021 vintage, which was released at a “significant” premium to others available on the market, which accounted for only 7.7% of Burgundy volume traded in 2022.
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Liv-ex noted that the Burgundy 150 index is still navigating a bearish trend “that is moving into the medium-term” and there were indicators that “we may not have seen the end of downward price movements”.
“With some prices doubling between January 2020 and January 2022, this correction was no doubt necessary,” it said, noting that there was none-the-less some flattening in the downward trend.
Onto this backdrop comes the 2023 vintage, which is “impressive” in terms of yield – particularly welcome after the 2022 vintage – and also, one of good quality.
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