Lafite 2008 prices surge with news of Chinese symbol

Prices of Lafite’s 2008 vintage have leapt as much as 20% in 24 hours after the château announced its bottles will be etched with the Chinese symbol for the number eight, also known as the symbol of infinity.

chinese-eight.jpgAs Liv-ex points out on its blog, while the wine was trading at £8,500 on
Tuesday, by midday on Wednesday, after the news broke, it saw prices reach £10,500.

Importantly, the figure eight is a powerful symbol in China that is believed to bring good luck.

The decision to place this symbol on bottles of the 2008 vintage is doubtless a savvy move by Château Lafite, which remains China’s preferred brand. The 2008 is also a vintage which benefits from a perfect Parker score of 98-100.

Liv-ex, which said news of the symbol "ignited a frenzy of activity on the exchange," believes the real test will come this weekend with the Sotheby’s Hong Kong sale of 2,000 bottles direct from Lafite’s own cellars.

The ex-cellar catalogue features vintages from 1869 to 2009, including numerous lots from 2008.

Patrick Schmitt, 28.10.2010

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