First growths’ top vintages down 35%

13th March, 2014 by Rupert Millar

Prices of first growths from “on” vintages have fallen by 35% or more since the market peak in February 2011 – though the 2000 vintage is bucking the trend.

The five Bordeaux first growths

Liv-ex has examined the situation for the first growths three years on from when the market peaked and found that prices for recent vintages have fallen and the gap between the most and least expensive vintages has become smaller.

Breaking it down further into exceptional years such as 2000, 2005 and 2009 and “off” vintages – which were still good but not as celebrated (such as 1998, 2004 and 2008) – it was found that the 2000 is still one of the best performers and 2008 one of the worst.

On average the “on” vintages have suffered steeper price drops in the last three years but in relation to one another prices have stayed much the same.

The 2000s have been particularly buoyed by the performance of Mouton Rothschild, which, it was reported last November, is actually on its way back up to its 2011 level.

The “off” vintages have generally fallen 28% to the “on’s” 35% but the 2008s have crashed 56% since their 2011 peak when they seemed to be the wines that could do no wrong – being a solid vintage and so much cheaper than the 2009s and 2010s.

With prices for “off” vintages now hovering around £3,500 a case – compared to the £5,000-odd for “on” vintages – some merchants are hoping they might help revitalise Bordeaux sales again.

Strangely though, Liv-ex concluded, with prices flattening across vintages from 1994-2009, “it would seem that time in bottle adds nothing to a wine’s value.”

If this situation persists it is not good news for Latour now that it has quit en primeur and wants to release older vintages – the premium it has added from recent cellar-releases has already been criticised from various quarters.

Liv-ex added though: As fundamentals re-assert themselves, older vintages seem likely to outperform as supply is depleted.”

 

3 Responses to “First growths’ top vintages down 35%”

  1. david ramsey says:

    As a journalist Rupert Miller should be ashamed to headline this article “First Growth’s” which is singular when he means all of them. Go back to school!

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

Commercial/Sales Manager

Crush Wines Ltd
Bremhill/Home office, GB

Wine Buyer

Adnams
Southwold, UK

Sales Manager - Scotland

Eurowines Ltd
Scotland

Sales Manager - North-West England

Eurowines Ltd
North-West England, UK

Sales Manager - London

Eurowines Ltd
London, UK

Key Account Manager - Grocery

Australian Vintage Limited
London (Croydon), UK

Key Accounts Manager - Impulse

Australian Vintage Limited
London (Croydon), UK

Business Development Manager

Regency Wines Ltd
North Devon & Somerset, UK

Sales Manager - North East England

Eurowines Ltd
Within 15-20 mile radius of York, UK

National Account Manager

Ehrmanns Wines
London, UK

London Account Manager

The Drinks Club
London, UK

London Sales Executive

Gourvid Limited
London and Greater London, GB

Logistics Administrator

Speciality Drinks Ltd
Park Royal, London, UK

Head of Sales - Hush Heath Estate

Hush Heath Estate
Kent/ London, UK

London Sales Executive

VDS UK Ltd
London, UK

The Global Merlot Masters 2017

Deadline : 2nd May 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 2nd May 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more