January finishes with a bang, but will we see the same levels of interest in February?

January closed as a record month at Cavex with all indicators surpassing best previous figures. On the whole, trading data has been looking positive with strong climbs for the majority of wines traded in the past seven days. Though as mentioned last week, will this momentum continue through February or is the up-turn in trading value and volume merely responsive to Asian demand ahead of Chinese New Year?

Data shows that bid and offer positions have declined slightly this week with total bid value down 5.7%, although the number of bids have grown somewhat with £200,000 of new positions placed. Offer value declined by 5.2% as trades matched, whilst the number of active positions has also fallen by 1%. It appears that some sellers are currently hesitant and wish to wait and see which way the market will turn over the next couple of weeks.

This week’s movers showed no major surprises. Mouton Rothschild leads the pack with both Mouton and second wine Petit Mouton trading regularly. The 1998 Mouton traded at £1,575 per 6 x 75 up 5% since November and biggest climber of the week went to Petit Mouton 2006 up 17.3% since this time last year at £610 per 6. Mouton is currently on a rally as was evident over the weekend with strong results at Sotheby’s Hong Kong ex-cellar auction where sales of HK$32m doubled the pre-sale estimate.

Other notable results have seen strong trading in Bordeaux 2005’s with Cheval Blanc trading at £3,950 up 4.6% since mid-January. Troplong Mondot also saw a steep rise of 10.7% since October matching at £1,350 per dozen. Speculators are certainly looking at a considered undervalued vintage ahead of Robert Parker, potentially re-scoring the 2005’s in his 10 year re visit later this year.

Whilst Mouton has charged out in front in recent months as the leader of the Bordeaux First Growths, Lafite has continued to drift. The 2009 falling slightly by 0.5% to £5,950 and second wine Carruades 2008 also falling 0.7% to £1,520. However this week’s biggest fall went to DRC’s 2009 Richebourg which dropped 18.2% since this time last year trading at £5,500 per 6 x 75. DRC’s Duvault Blochet is still regularly finding strong buying demand, it’s the higher value DRC’s that are struggling to match solid bids.

This week’s hot stocks have seen a cracking selection of Italian and Rhone wines added for sale at very keen prices so be sure to check out the full listings on the links below. Some strong bids remain to be found for sellers who still wish to offload some last minute stocks in hope to catch the tail end HK buyers. But be quick, stocks need to fly this weekend if they are to make it.

Offers
Wine Vintage Format Price Contract Qty Last Traded Date
Ausone 2000 12 x 75 £7,500 A 1 £10,750 04/10/14
Barolo Monprivato Giuseppe Mascarello 2004 6 x 75 £600 A 2
Brunello di Montalcino Sugarille Angelo Gaja 2007 6 x 75 £430 A 5
Chateauneuf du Pape Cotes Capelan La Ferme du Mont 2009 6 x 75 £125 A 17
Chateauneuf du Pape Les Safres Clos du Caillou 2010 12 x 75 £265 A 3
Cornas Lieu Dit Patou Domaine Ferraton 2009 6 x 75 £120 A 6
Cotes du Rhone Reserve Clos du Caillou 2010 12 x 75 £190 A 1
Domaine de Chevalier 2005 12 x 75 £450 A 1
Ermitage Les Dionnieres Domaine Ferraton 2009 6 x 75 £230 A 5
Grand Puy Lacoste 2006 12 x 75 £340 A 10 £320 20/06/14
Grand Puy Lacoste 2009 12 x 75 £475 A 11 £480 13/06/14
Haut Bailly 2005 12 x 75 £725 A 2
Lafite Rothschild 1999 12 x 75 £4,800 C 1 £5,050 09/05/14
Lafite Rothschild 2007 12 x 75 £4,580 A 1 £4,500 08/01/14
Latour 2002 12 x 75 £3,150 A 1 £3,200 16/01/15
Le Pergole Torte Montevertine 2007 6 x 75 £480 A 5
Le Pin 2002 6 x 75 £5,500 A 1
Les Forts de Latour 2005 12 x 75 £1,435 A 10 £1,340 30/10/14
Lynch Bages 2003 12 x 75 £990 A 12 £970 07/01/14
Malescot St Exupery 2009 12 x 75 £570 A 1 £600 15/04/14
Mouton Rothschild 2003 12 x 75 £3,300 A 2 £3,100 03/11/14
Mouton Rothschild 2006 12 x 75 £3,200 A 1 £3,275 09/01/15
Pavie Macquin 2004 12 x 75 £490 A 8
Pontet Canet 2010 6 x 75 £640 A 2 £640 18/12/14

Bids
Wine Vintage Format Price Contract Qty Last Traded Date
Beychevelle 2004 12 x 75 £570 A 10
Beychevelle 2006 12 x 75 £570 A 10 £575 11/12/14
Beychevelle 2008 12 x 75 £535 A 10 £550 08/01/15
Beychevelle 2009 12 x 75 £560 A 15
Carruades de Lafite 2007 12 x 75 £1,550 A 2 £1,550 22/09/14
Carruades de Lafite 2008 12 x 75 £1,520 A 6 £1,520 28/01/15
Chateauneuf Du Pape Clos Papes 2005 12 x 75 £600 A 1
Cheval Blanc 2005 12 x 75 £3,850 A 2 £3,950 27/01/14
Cos d’Estournel 2004 12 x 75 £645 A 5
Cos d’Estournel 2008 12 x 75 £580 A 1 £620 23/10/14
Cote Rotie Domaine Jamet 2001 12 x 75 £1,250 A 1
Ducru Beaucaillou 2009 6 x 75 £950 A 4 £955 22/01/15
Duhart Milon 2009 12 x 75 £565 A 10 £570 22/12/14
Grand Puy Lacoste 2006 12 x 75 £320 A 10 £320 20/06/14
Grand Puy Lacoste 2010 12 x 75 £460 A 2 £520 23/05/204
Lafite Rothschild 2007 12 x 75 £4,500 A 1 £4,500 08/01/15
Lafite Rothschild 2009 12 x 75 £5,825 A 2
Latour 2004 12 x 75 £3,160 A 2 £3,100 14/11/14
Latour 2006 12 x 75 £3,350 A 1 £3,320 30/01/14
Leoville Barton 2003 12 x 75 £655 A 2 £650 09/10/14
Leoville Las Cases 2008 12 x 75 £800 A 2 £900 19/12/14
Leoville Poyferre 2004 12 x 75 £400 A 2 £475 30/05/14
Leoville Poyferre 2010 12 x 75 £750 A 1 £760 14/01/14
Les Forts de Latour 2008 6 x 75 £550 A 6 £595 28/01/15
Lynch Bages 2003 12 x 75 £975 A 12 £970 07/01/15
Mouton Rothschild 2002 12 x 75 £2,800 A 4 £2,705 11/11/14
Mouton Rothschild 2003 12 x 75 £3,150 A 2 £3,100 03/11/14
Mouton Rothschild 2008 12 x 75 £2,900 A 2 £2,900 06/01/15
Ornellaia 2004 6 x 75 £750 A 1 £750 07/12/13
Sassicaia 2009 12 x 75 £955 A 13 £1,000 23/04/14

Enjoy your week.

Daniel, Jean, Simon, Steph & Steve

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