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market report

Liv-ex is an electronic exchange for fine wine used by professional merchants and collectors. Each month Liv-ex publishes a detailed Market Report analysing fine wine prices and trends in the marketplace. The Market Report is part of a package of data and services offered to subscribers of Liv-ex, with subscriptions starting at 39.95 per year.

Below is just a brief extract from the latest Market Report. An extract will be offered on wine-pages as soon as it is published each month, but for the full report and Liv-Ex's extensive services, sign-up with them at www.liv-ex.com

Liv-Ex Market Report
by Liv-ex.com, February 2006

Trading
Activity on the exchange notched up a record month for February. Trade increased 75% on 2005 and was up 26% on January. Stock held by leading stockholders fell for the first time in several months by 2.5% reflecting January sale activity. Demand for the top names remained very strong with some big price increases in the month. Overall the Liv-ex 100 increased a very material 3.1% on January, bringing the 12-month gain to 24.3%. (The Liv-ex 100 is now available on Bloomberg! Please use index code LIVX100).


(much more analysis and charts by region in the full report)

Major Movers
As can be ascertained from the strong performance of Liv-ex 100 in February. There have been some big price moves. There were 25 wines in the 100 that posted gains of more than 5% in the month. Most of these are all the usual suspects from Bordeaux, but also included this month are DRC, Assortment 1990 (+10%), Dom Perignon 1985 (+6%) and Guigal, Cote Rotie Landonne 1998 (+7.3%). The latter we tipped last week in final thought. Is this a coincidence or is Final Thought starting to move the market! The top five are listed below.


(all featured wines are analysed in detail in full report)

Critical Corner
The big story in the first couple of months of the year has really been 2003 Bordeaux. The old adage of buy on rumour and sell on the news has been particularly pertinent, as merchants have swapped stocks as the wine has become physical and speculated on the outcome of the scores from the main critics. In essence, trade to date has been a dress rehearsal for the big event, which will happen when Robert Parker releases his verdict on the recently bottled 2003s at the end of April.

(extensive analysis of these critical scores in full report)

Final Thought
Far from slowing this year, as some expected, prices of the top wines have, if anything continued to accelerate in 2006. Lafite 1982, the best performing wine in the Liv-ex 100, for example, has risen 68% in the last 12 months. Indeed, the Liv-ex 100 recorded its second biggest monthly move ever in February and looks likely to increase again in March. This month we have looked at the performance of the top Bordeaux brands from the 10 best vintages between 1982 and 2000 and tried to ascertain the characteristics that have determined performance. The results would suggest that picking the right wines has not been rocket science.


(Very detailed breakdown and percentage figures in full report)

To trade on Liv-ex or subscribe for price information, visit www.liv-ex.com
Liv-ex Limited, Tel:+44 (0)207 228 2233