Right Bank wines lose out at auction

By November 23, 2012Auctions, Bordeaux, Regions

Yesterday we saw that Bordeaux wines tended to underperform
at October auctions, regularly going under the hammer for less than their Liv-ex
Below we have divided up the sub-sections in the Bordeaux 500 to see which sector
of the market underperformed the most. This has been calculated by comparing the
difference between the average price paid for a wine at auction (excluding the
buyer’s premium, as we are approaching this from a seller’s perspective) and
the Liv-ex Mid-Price.

We have recently reported on the success
of Right Bank wines, but in October they showed the largest discount to their
Liv-ex Mid Prices when sold at auction. The Right Bank 50 and 100 were the
greatest underperformers in Hong Kong, Chicago and New York. In the US they saw
on average a more than 30% decrease from their Mid-Prices. Meanwhile the Left
Bank 200 was the strongest performer for red Bordeaux, although in Hong Kong the
Second Wines 50 proved more popular – Carruades Lafite 2009 (LWIN 10078402009),
for example, regularly sold at 27% above its Liv-ex Mid-Price.  

Sauternes saw the most success at auction. They were the
only group to sell over their Liv-ex Mid-Prices, with an average 10.8% increase
in Hong Kong. Perhaps this points to increased Asian demand for white Bordeaux.