Bordeaux first growths Margaux and Haut-Brion are taking an increasing amount of trade by value on Liv-ex – more than the other three first growths combined.
Although wines from Bordeaux have seen high levels of decline in the last couple of years, away from the first growths there are many estates offering good value.
Liv-ex considered a statement made by Robert Parker 10 years ago about first growth pricing and has found him to be largely correct.
Liv-ex has compiled a list of the most searched-for wines on its website and while Bordeaux still dominates the rise of the rest of the world is also evident.
Lafite’s premium over its fellow first growths is narrowing as poor performing vintages start to make their way into its Liv-ex sub-index.
Mouton Rothschild and Right Bank heavyweights Angélus and Pavie threw their combined backs behind the 2013 en primeurs this morning.
Half of the merchants in Liv-ex’s Bordeaux 2013 en primeur survey have voted the vintage the weakest out of 2007, 2008, 2011 and 2012 for the first growths in terms of quality.
Prices of first growths from “on” vintages have fallen by 35% or more since the market peak in February 2011 – but the 2000 vintage is bucking the trend.
The poor performance of Left Bank Bordeaux frustrated merchants this year and the Liv-ex Fine Wine 100 is facing an unparalleled third consecutive slump.
The 2005 vintage of Haut-Brion has dipped below £5,000 a case on Liv-ex, further strengthening the index’s claim it offers the best value of the first growths.
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