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Prices rising again after May lull

Following a lull in trading during May as buyers readied themselves for the release of the 2010s, there are signs that trade and prices are increasing again.

Liv-ex’s various indices remained flat during May with the Fine Wine 100 Index and Fine Wine 50 all dipping very slightly, closing at 358.92 and 438.73 respectively at the month’s end.

The Fine Wine Investables Index stayed up but “progress was slow and uneven”, meanwhile the Claret Chip, which saw its biggest fall during April, also closed on a positive note, up 7.24% on the year to date.

Following this pause, the Claret Chip jumped last week, rising from 443.69 to 448.30. Latour was one of the strongest risers, evidence perhaps in greater interest following the estate’s ex-cellar auction in Hong Kong.

May was better for Bordeaux Index which has seen a rise in sales, with prices up 1.25% and demand from both European and Asian buyers saw sales jump 40% overall.

Older vintages were in demand, with the likes of Margaux ’96 and Mouton ’86 the most sold.

Montrose ’07 was also a popular choice (alongside Pichon Lalande ’03 and Lynch Bages ’08), leading BI founder, Gary Boom, to comment: “This is not only the cheapest but in our opinion, probably the best drinking Bordeaux vintage that is still available in sensible quantities on the market at the moment.

“We’ve had the opportunity to re-taste several in the office over the last few weeks and have been extremely impressed with how well they are showing. It could be one to follow.”

Rupert Millar, 09.06.2011

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